What can we expect from 2021?
As we come to the end of the first two months of 2021, many of us in business and management are wondering whether the coming year will be one in which we will sink or swim.
Will we emerge from the Covid-19 pandemic as planned following the vaccine roll-out or will we face further unprecedented challenges in an unstable environment?
It is no embarrassment for managers and business leaders to admit that we had often built strategy based on inaccurate forecasts during 2020.
No amount of insight and analysis could have predicted the unprecedented events we have seen last year and this will likely continue into 2021. It is still uncertain how things will unfold during the coming year.
The challenges in forecasting the business environment meant that many strategies failed and if you are in this situation as a business leader, take heart because you are in good company.
Being unable to make use of clairvoyance, even the most data-minded managers and leaders and the most nimble companies were left with strategies that needed to evolve, pivot, or start over from scratch. Many unfortunately did not survive. Read more…
By SSM Prof. Premkumar Rajagopal and Dr. Geoffrey Williams.