It's that time of year when focus turns to planning for the new financial year. How does one plan in times where the ground seems to be constantly changing? Yet being prepared for change is more important than ever if one is to emerge intact if not stronger when stability returns.

In times of high uncertainty, one needs to consider one's strategy under numerous potential scenarios. The preparation of the annual budgeting is by no means about predicting what will happen in the next 12 months. One could have strategic goals but these need to be framed in the context of the prevailing business landscape.

With a constantly moving landscape at the moment, what do you assume as the operating environment? You can't. Hence the good old fashioned discipline of asking yourself "What if..." when framing your best guess game plane as your budget but at the same time developing alternative scenarios - however implausible they might seem - so that you are ready to adapt if the wind changes.

Read more about this vital topic in Issue 4 of Ruminations. Contact us to discuss how we can assist you in this essential rigorous process.