What is a potential drawback of not involving key stakeholders in business planning?

Involving key stakeholders in business planning is crucial because their insights and perspectives can significantly enhance the quality of the decision-making process. When key stakeholders are excluded, the planning process may suffer from a lack of diverse viewpoints, which can lead to unbalanced or uninformed decisions. Without these varied perspectives, there is a greater risk of identifying solutions that do not adequately address the needs of all affected parties or that overlook critical elements important to the overall success of the plan. This deficiency in input can ultimately lead to poor decision-making, resulting in strategies that might fail to meet organizational objectives or adapt to surrounding circumstances effectively.

The other options generally address concerns related to logistics and efficiency rather than the quality of the decision-making process itself. Increased costs, slower implementation, and increased time spent in meetings are all valid considerations but do not directly relate to the fundamental impact of lacking diverse input on decision-making quality.