Planning and forecasting become challenging, and planning fallacy is a business reality. Still, forward-thinking companies need to keep planning and improving.
With high velocity and frequent digital disruptions, if planned in detail is as far ahead as the end state, much planning time and effort will be wasted. Scientific planning leverages data-based predictive analytics, business architecture as a planning tool, and different tools & mechanisms to deal with a horizontal scanning environment, set important guidelines, and enable the organization to make strategic choices consistently.
Business Architecture is a great tool for designing and planning: With today’s business velocity and frequent digital disruptions, Business Architecture is a great strategic planning tool for business leaders to gain a systematic understanding of how relationships, ecosystems, market dynamics, and the connections between related business units and orchestrate the organizational interrelationship between people and process and define more than one way of achieving strategic goals. Applying business architecture to long-term planning can help the business stay focused, lead to better decisions, and manage risks effectively. After that, organizations also need to have short-term goals that are aligned with business goals. Oftentimes business management “keeps the lights on,” focusing on tactical issues, but “getting lost” of the big picture for the long run. It requires courage and skills to really tackle what is wrong at the strategic level.
Business Architecture is a useful tool for a dynamic and iterative Strategic planning process that needs to be monitored and controlled (inside vs outside, internal vs external factors). It helps to navigate the full set of “Ws: Why, What, How, Who, When and Where, etc,” for implementing well-defined strategic goals of organizations. It’s also an important communication tool to keep people informed. If the actual planning is spot on, listen to your employees or customers, listen to the market, listen to the competition, be realistic, believe in strategic planning, more to the point is to make sure everybody else believes on the plan too, conduct organizational level briefing and choose the most suitable and acceptable approach to reach the desired destination.
Leveraging data-based analytics to do the planning: The dynamic planning process is the continual attention to current changes in the organization and its external environment, and how this affects the future of the organization. It’s important to drive data-based analytics and data-driven behavior, it’s even more critical to embed predictive actions into repeatable business processes to improve business efficiency and speed. In practice, you need to have strategic intelligence to diagnose the problems; paradoxical intelligence to strike the right balance; system intelligence to understand the interrelationship between parts and the whole; judgmental intelligence to make effective decisions, and creative intelligence to figure out alternative ways to solve problems or reach the destination. Good planning is goal-directed, purposeful, and intelligent, and all intelligent activities are planned to reach well-set goals. It is important to get you off the ground and running, also ensure that there is sufficient time to prepare the stakeholders for the changes on the way.
With the faster paces of changes and continuous disruptions, digital organizations today have to enable desirable emergent property. Thus, planning and forecasting become challenging, and planning fallacy turns to be a business reality. It's an even bigger challenge today because companies are still trying to “feel their way” through these economically stressful times and any kind of strategic business thinking seems to be taking a back seat to simply keeping things together. The organizational resource is limited, so information empowered management can adjust the business strategy based on predictions and analytics, etc. The point is to figure out the “right level” of planning. Good planning should be based on quality information about the customers, competition, internal capabilities, and cost. The whole point of dynamic planning, not a static plan, is to keep iterating, learning, and working on a rhythm of sustained delivery, that includes planning, but very few organizations seem to get it.
“What-if” scenarios with agreed-to response plans in place: With high velocity and continuous disruption, business executives are sensitive to emergent trends, pay close attention to the opportunities and risks on the way. Usually, scenario planning is less formalized and can be used to make plans for qualitative patterns that show up in a wide variety of simulated events. Scenarios can be very strong planning tools qualitatively, to uncover significant risks in the strategic plan, and get you the best time-value result.
With unprecedented levels of uncertainty around a volatile marketing situation, emerging business properties, fierce competition, disruptive technologies and so many variables to consider, you can also use scenario planning to explore how your current strategies will or will not help you against possible disruptions by establishing a set of “What-if” scenarios showing the potential scale of business benefit. When you think of scenario planning, think of risk management as well. Estimate a range of potential impacts for each scenario; then itemize the steps and costs required to create a detailed plan once the disruption appears to be certain. This gives immediate guidance and allows everyone to anticipate costs and effort when the market changes.
Planning and forecasting become challenging, and planning fallacy is a business reality. Still, forward-thinking companies need to keep planning and improving. The planning process is a continuous cycle; that's part of the management process itself. And then, the responsibility of the management is to make a seamless alignment of planning and implementation. The key is to engage the whole organization in knowing and understanding the direction and planning of the business and build the momentum and increase the tempo of business operations and change.
Business Architecture is a great tool for designing and planning: With today’s business velocity and frequent digital disruptions, Business Architecture is a great strategic planning tool for business leaders to gain a systematic understanding of how relationships, ecosystems, market dynamics, and the connections between related business units and orchestrate the organizational interrelationship between people and process and define more than one way of achieving strategic goals. Applying business architecture to long-term planning can help the business stay focused, lead to better decisions, and manage risks effectively. After that, organizations also need to have short-term goals that are aligned with business goals. Oftentimes business management “keeps the lights on,” focusing on tactical issues, but “getting lost” of the big picture for the long run. It requires courage and skills to really tackle what is wrong at the strategic level.
Business Architecture is a useful tool for a dynamic and iterative Strategic planning process that needs to be monitored and controlled (inside vs outside, internal vs external factors). It helps to navigate the full set of “Ws: Why, What, How, Who, When and Where, etc,” for implementing well-defined strategic goals of organizations. It’s also an important communication tool to keep people informed. If the actual planning is spot on, listen to your employees or customers, listen to the market, listen to the competition, be realistic, believe in strategic planning, more to the point is to make sure everybody else believes on the plan too, conduct organizational level briefing and choose the most suitable and acceptable approach to reach the desired destination.
Leveraging data-based analytics to do the planning: The dynamic planning process is the continual attention to current changes in the organization and its external environment, and how this affects the future of the organization. It’s important to drive data-based analytics and data-driven behavior, it’s even more critical to embed predictive actions into repeatable business processes to improve business efficiency and speed. In practice, you need to have strategic intelligence to diagnose the problems; paradoxical intelligence to strike the right balance; system intelligence to understand the interrelationship between parts and the whole; judgmental intelligence to make effective decisions, and creative intelligence to figure out alternative ways to solve problems or reach the destination. Good planning is goal-directed, purposeful, and intelligent, and all intelligent activities are planned to reach well-set goals. It is important to get you off the ground and running, also ensure that there is sufficient time to prepare the stakeholders for the changes on the way.
With the faster paces of changes and continuous disruptions, digital organizations today have to enable desirable emergent property. Thus, planning and forecasting become challenging, and planning fallacy turns to be a business reality. It's an even bigger challenge today because companies are still trying to “feel their way” through these economically stressful times and any kind of strategic business thinking seems to be taking a back seat to simply keeping things together. The organizational resource is limited, so information empowered management can adjust the business strategy based on predictions and analytics, etc. The point is to figure out the “right level” of planning. Good planning should be based on quality information about the customers, competition, internal capabilities, and cost. The whole point of dynamic planning, not a static plan, is to keep iterating, learning, and working on a rhythm of sustained delivery, that includes planning, but very few organizations seem to get it.
“What-if” scenarios with agreed-to response plans in place: With high velocity and continuous disruption, business executives are sensitive to emergent trends, pay close attention to the opportunities and risks on the way. Usually, scenario planning is less formalized and can be used to make plans for qualitative patterns that show up in a wide variety of simulated events. Scenarios can be very strong planning tools qualitatively, to uncover significant risks in the strategic plan, and get you the best time-value result.
With unprecedented levels of uncertainty around a volatile marketing situation, emerging business properties, fierce competition, disruptive technologies and so many variables to consider, you can also use scenario planning to explore how your current strategies will or will not help you against possible disruptions by establishing a set of “What-if” scenarios showing the potential scale of business benefit. When you think of scenario planning, think of risk management as well. Estimate a range of potential impacts for each scenario; then itemize the steps and costs required to create a detailed plan once the disruption appears to be certain. This gives immediate guidance and allows everyone to anticipate costs and effort when the market changes.
Planning and forecasting become challenging, and planning fallacy is a business reality. Still, forward-thinking companies need to keep planning and improving. The planning process is a continuous cycle; that's part of the management process itself. And then, the responsibility of the management is to make a seamless alignment of planning and implementation. The key is to engage the whole organization in knowing and understanding the direction and planning of the business and build the momentum and increase the tempo of business operations and change.
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