For the past few years, organizations the world over have been forced to deal with volatile markets and rapidly changing environments caused by an ongoing series of unexpected events. The only certainty facing executives in these times is persistent uncertainty, which puts a premium on being able to react and pivot with agility when any black swan event occurs. Coping successfully with rapid change requires the ability to plan contingently to anticipate a range of scenarios and, when necessary, rapidly revise plans to operate most effectively in the new environment. To achieve this level of agility, executives need to harness technology to enable rapid, high-participation planning cycles that makes it possible to provide quick answers to the question, “What if?” Our Business Planning Benchmark Research demonstrates that 73% of organizations that are able to explore every relevant scenario have plans that are accurate or very accurate compared to just 36% that can only explore a limited set of scenarios or do not do this at all.
Thriving in Uncertain Times by Planning with Agility
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About the Author
SVP and Research Director
Robert Kugel is responsible for the Office of Finance and business research, focusing on the intersection of information technology with the finance organization and business. His research agenda includes the application of IT to finance and business process optimization, looking particularly at ERP and continuous accounting, financial performance management, predictive planning, price and revenue management, revenue and lease accounting and robotic finance.