Strategic planning and planning processes have evolved substantially this year following the upheaval caused by the COVID-19 pandemic. Companies are speeding up decision-making and changing how they set targets to enable more agile adaptation to the highly uncertain market environment.
Most companies have either accelerated, modified, or invested more effort into short-term planning. We see differences across sectors, with consumer-oriented companies doing performance analyses more often to adapt as digitization continues to dominate and consumer behavior shifts. Companies are introducing new approaches to resource allocation and approval cycles to position themselves for success next year.
With strategic planning season in full swing, businesses are struggling to implement scenario planning processes – particularly at the local level – despite great adoption of this strategy across many companies. Global strategy leads should utilize best practices and insights from colleagues across industries to implement best-in-class processes that can stand the test of time and support their organizations as the world recovers from the impacts of COVID-19.
Download an executive summary of our latest World After COVID-19: New Frontiers for Strategy and Planning Processes report to learn the best way for your business to implement scenario planning strategies and win in 2021:
Stay tuned for our annual Global Outlook report for 2021 coming soon, covering more scenarios than ever before to support business professionals with 2021 strategic planning. You can find our 2020 Global Outlook executive summary here.
Strategic planning season is ramping up and you need information about your markets, industry, and company in real-time to power your business decisions. FrontierView offers a solution that puts the right information at the right time, at your fingertips. Contact us to receive complimentary access for 2021 strategic planning season.