How can businesses plan for the future in an uncertain present?

With a new fiscal year fast approaching, many business leaders are in the thick of budgeting, forecasting, and planning. However, if the chaos of the pandemic has taught us anything, it’s that annual plans — where leaders plan once and walk away — are no match for today’s dynamic business environment, Businesses that still rely on this outdated technique will find it hard to react, respond, and compete strategically in the years ahead.

About the author

Chris Baker is the Managing Director for EMEA at Anaplan.

Market shocks, like the aftermath of Brexit, labor shortages, and the supply chain crisis, as well as Black Swan events like the ongoing global pandemic, have showcased just how quickly complexity and change can render even the most well-thought-out business plans irrelevant. In fact, in a recent business survey, more than 53% of respondents said they adapted their company’s services and activities during the pandemic in order to maintain or drive performance.