If your business must survive and thrive in this 21st century, you must navigate volatility, uncertainty, complexity, and ambiguity (VUCA) through strategic planning. This is not just a best practice but a necessity for businesses aiming to thrive.
In this article, we will explore the macroeconomic factors you need to consider when planning, the effects they have on your business and the strategic considerations to be made when crafting a financial plan for your business.
Now, budgeting has moved from being rigid to flexible and more dynamic. Rigidity will only make your budget irrelevant and inefficient.
Budget is simple and, at the same time not simple. It is simple when you understand the techniques and approaches and can choose the most suitable one for your firm.