Charles Darwin never said evolution was a matter of the survival of the fittest. On the contrary, he said: It is not the strongest of the species, nor the most intelligent that survives. It is the one that is most adaptable to change. Any crisis – whether within a company or global – is a stress test that measures the adaptability of the finance department. And the adaptability of an organization determines its agility in responding to change.
The ability of the finance department to execute rapid planning, forecasting and budgeting cycles is a major factor that determines a company’s adaptability to change because the planning process enables executives to guide the organization on the path to success. Watch and listen to Robert Kugel!