All tagged the art of strategic planning
When we’re presented with change of any material scale, it’s not uncommon for us to hesitate, to be concerned.
We wonder what the change will mean for us, how our work will be altered, what ‘price’ we’ll have to pay.
All natural and normal reactions, because change can be scary and overwhelming.
One of the ways that my firm helps organizations is by forecasting commodity prices. That is, we study specific commodities (e.g. High Density Polyethylene) and, using both quantitative models as well as qualitative analysis, provide a view as to what will happen to the prices of those commodities 6 to 12 months out. It’s not a perfect science but it’s helpful in driving better decision making.
Every so often, I’ll have someone ask us for a detailed 24 month forecast. And every time, my answer is the same.
When we make plans for new offerings, we tend to do so assuming limited resources.
After all, very few organizations operate with limitless capital, people or other resources. So it makes sense for us to be realistic. Why waste time on planning for something that we’re simply not going to be able to execute?
