and the threat of recession are just a few of the newer disruptions prompting organizations to redefine how they will play and win. Functional leaders need to envisage and plan how to dynamically respond to a range of potential outcomes.Many functional leaders already serve as strategic advisors in corporate-level scenario-planning exercises, but far fewer have experience in scenario planning for their own function.
Perform due diligence on critical short-term decisions, and make strategic course corrections as needed. Prepare the team to mitigate potential risks, and provide timely risk-aligned guidance for different scenarios. Functional leaders can’t, however, just apply the outputs of enterprisewide planning to departments like finance or assurance, primarily because the high altitude of organizations’ plans fails to consider the implications for function-specific strategies, risk exposure, demand and supply needs.
For example, at the corporate level, responding to a market turn might translate into efforts to attract new customers. But for a function, it might mean renegotiating with suppliers or increasing support for ad hoc workload surges.
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