Every two years, we conduct “speed of change” research with our clients and community. In 2018, in a survey of more than 2,000 managers, 47% reported that in order to survive, they needed to reinvent their businesses every three years or less. In 2020 that number jumped to 60% in the make of the pandemic. The data from 2022 is still coming in, but the first 600 respondents show that the speed of change remains incredibly high, with 55.8% reinventing every 3 years or less, with 20.8% changing their plans every 12 months or less — the highest velocity we’ve ever seen.
3 Ways to Bring Flexibility to Budgeting
Easy steps you can take today to craft a more agile process.
September 28, 2022
Summary.
With businesses undergoing constant changes, targets and budgets need to become more adaptive. Start by setting your goals and ranges rather than single numbers, setting some firm limits, and shortening the budget cycle.
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HBR Learning
Budgeting Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Budgeting. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Tips, tools, and info for handling the budgeting process.
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New!
HBR Learning
Budgeting Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Budgeting. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Tips, tools, and info for handling the budgeting process.