Dynamic modeling aligning business and it

There’s a lot of attention being paid to the concept of agility right now. Given the world we’re living in, that’s hardly surprising. Against a backdrop of uncertainty, agile businesses have the ability to rapidly adjust their people and processes to create more value and react quickly to changing conditions. Yet, from a finance perspective, defining what we mean by agility can be tricky.In the previous article, we looked at five key areas for finance leaders to explore in order to guide their businesses through persistent change. Below, we dive into four specific elements of business agility, exploring finance’s role in aligning data, processes, and technology to support continuous change.Perform Continuous “What-If” Scenario ModelingVolatile conditions demand rapid scenario modeling to help companies respond with speed and insight to market disruption. My colleague Kinnari Desai has previously discussed best practices for financial scenario modeling, and it remains a crucial component for businesses looking to make data-driven decisions that help them grow and thrive as the world of work continues to evolve.According to McKinsey in the article “No Longer on Autopilot: Lessons for CFOs from COVID-19,” finance leaders should be focused on three or four independent scenarios that reflect short-term and long-term revenue and cost outlooks: “Each scenario should have a perspective on the length of potential economic decline, the depth of the decline, and the ramp-up to the next normal. Among them should be a momentum case—or a do-nothing scenario—that accounts for country-specific macroeconomic outcomes and sector-specific implications but excludes the execution of any strategic initiatives or the allocation of resources toward those initiatives.”Scenario modeling greatly improves the agility and flexibility of the planning process by providing some clarity on how the world could look against a range of potential paths. Armed with this data, FP&A leaders should be looking to

At board level, as well as offering some tried and tested strategies for improving Board performance.' - Long Range Planning'A thoughtful analysis of successful board architecture and how to achieve the ideal dynamic partnership between shareholders and directors... fills a gap in the literature and will add value to all directors' work. Essential for succession planning.' - Director Magazine'This is a unique book, written to help boards... Boards, Chief Executives and Chairmen will find the evaluation questionnaire useful.' - Corporate Governance About the author ALLAN BLAKE is currently a Managing Consultant at the PA Consulting Group's Management Centre, working with a number of companies to help develop their boards and individual directors. Prior to that he worked at Leeds Business School where he contributed to the Institute of Directors distance learning programme. Bibliographic Information Book Title: Dynamic Directors Book Subtitle: Aligning Board Structure for Business Success Authors: Allan Blake DOI: Publisher: Palgrave Macmillan London eBook Packages: Palgrave Business & Management Collection, Business and Management (R0) Copyright Information: Allan Blake 1999 Hardcover ISBN: 978-0-333-73902-0Published: 18 June 1999 Softcover ISBN: 978-1-349-14891-2Published: 01 January 1999 eBook ISBN: 978-1-349-14889-9Published: 27 July 2016 Edition Number: 1 Number of Pages: XVI, 235 Topics: Management Publish with us Back to top

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