If you throw a rock at a glass window, it’s probably going to break. It’s rigid. There’s no give. But, throw a rock at a net and not much happens. There’s some cushion.
The same goes for business. When a curve ball is thrown at your plan, a flexible strategy will be able to adapt and withstand the unexpected while a rigid approach will usually crumble and fail.
People love to criticize planning, analysis, and forecasting, but I argue that many of the complications are due to a lack of flexibility rather than inherent problems.
Here are some methods to improve processes:
Utilize agile strategies that include a focus on continuous improvement and measurement.
Include outside resources, diverse input, and seek out excellence when collaborating.
Analytics can add numerous advantages to many decisions. However, they must be validated via testing, intuition, and corroboration.
Shifts in factors like risk, goals, economy, validity etc. require corresponding changes in approach. For example, venture capital investors seem to be focusing more on the potential of profit as well as growth.
Bottom line: don’t throw the baby out with the bath water. And keep an open mind. New management tools need to be modified and reviewed rather than just discarded. And remember, in both business and athletics: Increased flexibility equates to less injury and greater stamina.