FEATURE : PRIORITIES FOR 2024
understandable feeling that organisational decisionmaking is characterised by a more scientific and solid foundation compared to earlier years , when intuition , gut instinct and personal experience played a more prominent role in guiding activities .
Data-driven business decision-making is more important than ever and that means businesses need access to the best technology and staff to maximise data . Whether it ’ s implementing data aggregation
THESE DEVELOPMENTS WILL OFFER A RANGE OF OPPORTUNITIES FOR BUSINESSES AND THEIR STAFF , FURTHER ADVANCING THE WORLD OF TECHNOLOGY IN 2024 .
systems or hiring data scientists for analysis , the volume and usage of data will only continue to increase – and businesses must stay on top of this .
Bimodal planning is here to stay
Bimodal planning persists as a reliable strategy in navigating the recent turmoil of economic uncertainty , political instability and widespread conflict . These issues have vividly underscored the inherent limitations of relying on long-term plans in the face of unpredictable external factors .
In light of this , there is an emerging acknowledgement that shorter-term plans , covering a strategic window of 12 – 24 months , hold greater weight and practicality compared to their more extended 3 – 5 year counterparts .
In the private equity ( PE ) sector , for example , some businesses are deliberately extending their timelines for portfolio company value creation rather than exiting when initially planned . This approach may signal a broader trend in businesses which favours adaptability and responsiveness over rigid long-term projections .
As organisations continue to contend with an unstable and unpredictable environment , the emphasis on bimodal planning becomes more pronounced , highlighting the strategic imperative of balancing stability and adaptability in the pursuit of sustained success . Bimodal planning is here to stay .
Tech transformation for 2024
The fast-paced evolution of technology in 2023 has set the stage for a transformative year ahead
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