You will have many ways you manage your internal business information. It’s likely you employ many people to look internally – Accounts, forecasting, ERP and the like. But how many people watch and track external events? It’s likely to be a fraction. Now, most surprises in business are unpleasant; the majority come from external events. But what is Early Warning Analysis?
The fog of war
An early warning system will help you reduce the surprises and the impact on your business. The effect of the shock stops you having the time to act thoughtfully and in a timely way. Early warning needs to be systematic to enable you to be able to assess the circumstance and identify scenarios to counter future scenarios. It will reduce the impact of external disruption and surprises associated with:
- Technology disruption
- Competitor actions
- Environmental circumstances
- Regulation changes
- Changes in consumer demand
- Economic conditions and political changes
What is Early Warning Analysis?
Surprises will happen, but they don’t have to disrupt your business. An early warning program can reduce the impact on your business.
Do you hear that? That’s the sound of your world changing. Of people connecting, contacts changing, customers needs evolving. And competitors disrupting your market.
You can’t slow it down. And you can’t avoid it. You can’t stop it.
But you can stay ahead by innovating, modernising and delivering what’s needed.
By knowing what’s happening next.