Get the latest business finance insights delivered directly to your inbox. Naturally, part of that has to do with the way business budgeting and forecasting is done. Many companies still prepare their budgets and forecasts manually. That means endless Excel spreadsheets that all need to be updated, approved, and then consolidated over the course of weeks, if not months.
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Official websites use. Share sensitive information only on official, secure websites. A business impact analysis BIA predicts the consequences of disruption of a business function and process and gathers information needed to develop recovery strategies. Potential loss scenarios should be identified during a risk assessment.
Scenario planning forces you to look into the future and helps you deal with uncertainty. Those who take it seriously can make quick and effective adjustments. A mini course. Every good chess player thinks a number of steps ahead in scenarios.