Integrated Business Planning is fast becoming the management process of choice in successful businesses. However, business leaders in developing markets often question the suitability of the process for volatile, rapidly changing or high growth environments. The concern is that for a business to implement a formal process to plan and execute beyond the immediate horizon - often for 24-months or more - a certain level of stability is first required.
So, is IBP relevant in a market that is extremely dynamic or with high levels of political or economic uncertainty? The answer is an emphatic yes, and arguably more so. What is often missed is that it is not about creating, or being in a business environment suitable for IBP, it is rather a matter of implementing IBP to create a successful strategic response to existing market conditions. Integrated Business Planning is a formal means of reviewing the business’s circumstances and assumptions every month and it functions in any environment.
The key is that the organisation recognises the volatility in its market, so it is able to respond to that volatility differently and more successfully than its competitors.
The process provides the leadership team with a realistic view of where the business is planning to be, and empowers it to make real-time decisions to influence that position. This enables top line growth as well as cost efficiency, through early identification of performance gaps as well as new opportunities.
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