If 2020 has taught the business world anything, it’s that business strategies and plans are rarely set in stone, and agility isn’t a nice-to-have. As companies continue to deal with the impact of the global pandemic, they’ve adjusted their plans faster than ever before and are modeling multiple scenarios to adapt to a bevy of potential changes.
This was a key theme at the recent Workday global digital event, Conversations for a Changing World. In the session “Planning in Times of Uncertainty,” moderated by KPMG’s Sanjay Sehgal, Sherry Vidal-Brown, chief human resources and communication officer at G6 Hospitality, and Mustafa Ozkeskin, vice president of FP&A at Microsoft, shared how they’re approaching planning in tumultuous times.
Businesses have faced unprecedented challenges this year, from adjusting nearly overnight to remote work to dealing with supply chain disruptions and policy and procedure changes within their organizations. That’s why many have embraced a continuous planning approach.
Earlier in the year, as digital signals of the pandemic’s effects began to roll in, some businesses started scenario modeling in earnest to avoid harmful disruptions. Ozkeskin shared that at Microsoft, they had to “really think about the impact that this pandemic can have on our business— light
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