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Planning and Forecasting

Navigating in Turbulent Times: The secret of effective forecasting and how to use it to make your business more agile

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

In this article, Steve Morlidge, author of "Future Ready: How to Master Business Forecasting"argues that the quality of business forecasting – used to steer an organisation – is unacceptably poor. He goes on to present six simple principles that will help executives significantly improve the performance of their forecast processes. More reliable forecasts speed up decision making and so help make businesses more agile.

 

Managing forecast risk

By John Stretch, Management education in finance and banking

As we enter 2017, many companies are busy finalising their annual budget. But how do you budget in a world where the best economists cannot predict the future? Perhaps the only approach is to prepare a budget as best you can, live with the uncertainty and then adapt to it and respond very fast when the future eventually happens.
This may explain why organisations have converted their annual budget process to a dynamic system of rolling forecasts.

The not So Obvious Facets of Budgeting and Forecasting

By Timo Wienefoet, Managing Partner at IMPLEXA GmbH

No matter for a budget season or a continuous forecasting: the human factor is randomly covered in the process that may bring the best and the worst of management culture. A special eye on bias during the Performance Management and goal setting process is essential for process quality and to the FP&A skillset.  Missing the mark is suboptimal and settling for the wrong one has dire consequences for the company. Hopefully, it does, because planning without effect qualifies the planner as irrelevant to the business.

Time to shed light on the behavioral side of financial planning. With a twinkling eye, the not so obvious psychological patterns unexpectedly surface during every planning season.

„The greatest danger for most of us lies not in setting our aim too high and falling short, but in setting our aim too low, and achieving our mark.“ (Michelangelo)

Breaking the Chains of Static Budgeting & Planning

By Ernie Humphrey, CEO at Treasury Careers

 

2017 budgets might be locked and loaded at your company, but that does not mean that they need to be anchors on your company’s ability to anticipate, respond and react effectively to dynamic market conditions in 2017. Companies all sizes are upgrading from Excel and all its related headaches to leverage cost-effective cloud-based budgeting and planning solutions that fuel business agility by allowing companies to implement driver-based planning and forecasting.

 

A New Approach to Business Forecasting

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

Many millions of people are stuck with the habit of smoking. They know its bad for them and it will eventually kill them, yet they continue. They may have tried to quit many times but they are stuck in a rut. Experience has shown that to successfully break habits you must stop things as well as start doing new things.

The current practice of management exhibits some very bad habits. One key cause is an underlying philosophy of “command and control.” Managers know it is bad for them and it kills motivation, initiative, flexibility and innovation on a daily basis.

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