Most organizations have shortened the time horizons for business forecasting and strategic planning due to the business environment’s volatility.
The business environment is changing, and the rate of change is accelerating. This change is driven by the global availability of information, technologies, and technology-based infrastructure, and the expanding global marketplace. Accurate, detailed forecasting over a long time horizon is not possible and cannot be used to develop long-term plans for a competitive position in the future. A robust change process is needed to succeed in the future, in order to continuously retune the organization’s processes and react to changes in the business environment.