The biggest issue companies face is change. Rapid change is even more disruptive. The ever changing business arena and customer environment often leaves our budgets in tatters and our accountants wearily trying to explain variances to shareholders and management alike. The only certainty in business is that things will change yet we still hang onto outdated modes of budgeting and planning that assume one set of outcomes will unfold.
We only need to look at the recent Covid-19 pandemic to see how rapidly the world around us can change – and not necessarily for the best. Business plans and budgets make some assumptions about the future, they assume some growth and they assume some trends. Often these are not what transpires.
What if you could plan for multiple outcomes, budget and get approval for multiple budgets based on sound information gathering and forecasting / prediction?
We at Olive Professional Services have taken a leaf out of the scenario planners book and applied scenario planning to as many daily tasks as we can. From budgeting to strategy to daily operational issues. The biggest secret to success in planning is being able to switch your strategies as quickly as you have the relevant information available. Without considering different scenarios you effectively have a single route that needs modification and considerations. Scenarios give you some more options and better insights into possibilities for the future.