Strategy requires making choices about an uncertain future. It is not possible, no matter how much of the ocean you boil, to discover the one right answer. There isn’t one.
Harvard Business Review
Challenges and opportunities in the corporate planning - Managing complexity
Volatility and complexity (VUCA - Volatility, Uncertainty, Complexity, Ambiguity) continue to increase and therefore also the resulting uncertainties and insecurities. Forecasts are becoming more difficult and this poses a challenge to the company to question the corporate planning including all the sub-processes.
The challenge now is to determine the complexity and uncertainty. First and foremost, each "VUCA element" should be examined on its own. Analyzing which type of uncertainty is relevant, which measures might be appropriate and to plan them accordingly.
Existing planning processes lead to results which are often already questionable during finalization due to occurred changes. Redefining the concepts and planning processes is required to increase the informational value and the process speed.Adjustments are, among others:
- Processes and known rituals
- Iteration loop
- Analysis process in terms of markets, competitors and products
- Close connection between strategy and planning
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