Collaborative Strategic Planning in an Uncertain World | MIT Technology Review Insights Report

While organizations reset and adjust business strategies, they are increasingly relying on cross-enterprise strategic planning (CESP). And although CESP was challenging before the pandemic, the increased pace of uncertainty has made it even more so for many firms. This 25-page report is based on leadership feedback regarding how organizations worldwide conduct CESP, particularly in troubled times. Page 13 begins to address workforce planning and scenario planning as ways to identify, counter, or respond to future uncertainties. “Nearly two-thirds of organizations use scenario modeling to do corporate planning, and it’s popular in a handful of industries, led by finance (90%).” It is less common in industries such as Retail (48%), Manufacturing (34%), and Entertainment (33%), and is employed more by larger firms. For firms who do scenario modeling, three-quarters worldwide use a timeframe of three years or more when they engage in long-range planning. When organizations use scenario modeling, nearly half revisit and adjust their plans on an ad hoc basis, while more than a third run it every month (Figure 6 on p.17). Other ideas are offered on how firms can drive better business outcomes through collaborative and agile CESP across finance, human resources, and other business lines.