BA4101 Temple University Five Tips for Better Demand Planning and Forecasting Discussion Review

The first one:
Exceptional global CEOs have two qualities: internationaladaptability and universal leadership. International adaptability refersto the ability of the CEO to adapt to the needs of different markets.The best global CEO are adept at tailoring their leadership styles andoperations to different countries and regions. Universal leadershipqualities allow those CEOs to focus on really critical issues andpartnerships. They can bring together many stakeholders: boards ofdirectors, strategic partners, institutional investors, employees,customers, and local governments. Exceptional global CEOs are driven by astrong need for achievement, and they want to continually improve andchallenge standards of excellence.
As the first administrative leader of the enterprise, the CEO notonly needs to lead the whole team to achieve the short-term and mediumgoals of the enterprise; It also needs to set the direction for thebusiness strategically.
One of the risks brought by the crisis to enterprises is when facedwith a crisis, the executive power of enterprise decisions isinsufficient. Perhaps CEOs have thought through how to deal with riskand develop strategies to prevent it.
As a CEO, you should always understand the competition in theindustry, carefully and carefully make every choice, and make judgmentsand analysis in advance for the future industry situation. As a leaderin a business, every decision is very important, so it is very importantto judge the future.
The second one:
Thepopularity of globalization has significantly increased over the yearsfor the many benefits that it brings to both a company and the countryin which it is entering. However; when entering a new region, a companymust understand and respect that specific country’s cultural, political,and economic structure, which comes with a level of nationalism.Depending on a particular country’s stance on globalization, a companymay find it very difficult to integrate its own company culture intothat of a country that does not necessarily accept globalization.
When a country has a strong sense of nationalism, a companyinterested in entering that market must respect that about the countryand its people. Given that rules and regulations may change in a countryin order to fend off company’s trying to enter its economy, a strongconsideration of whether a company will be welcomed and able to besuccessful in that country must be analyzed. If the initial strategy toenter a market does not align with a countries ever-changing policies,then a company must re-adapt new business models in order to comply. Toreform a broken strategy, there are quite a few useful tactics that canhelp including analyzing competitor’s strategy’s, openly- communicatingproblems within your strategy, and including team members in forming newideas around an improved strategic plan (Giang, 2012). A strategy is anecessary tool for organizing a company’s future plans, but it isimportant to remember that these plans are not set in stone and must beable to change at any given time. If not, the strategy probably wasn’tvery good from the start, considering it did not account for theunknown.
Adapting to changes in a business environment can seem overwhelmingat first, but a few important tips to remember can help to improve thesituation and keep it simplistic. For example, Forbes recommends that inorder to adapt to changes, you must welcome failure rather than justaccept that it can and will happen (Boss, 2015). Another importantcomponent of adapting to changes in strategy is to stay focused on theprocess to reach the goal, rather than just the goal itself (Boss,2015). The goal can change over time depending on external influences,which is why it is important to closely manage the processes that feedthis goal in order to adapt new ones to better support the overalloutcome.
In conjunction to continuous changes in a business environment,forecasting is another useful, yet dynamic, component of forming astrategy. While it is important to make a reasonable projection of thecompany’s outlook, reliability of a forecast is not precisely accurate.Forecasting should be used as a guide to help determine the direction ofa company’s future, but the numbers involved should not dictate that isexactly where the company will be. Allowing some variability in theforecast will allow the company to implement strategies along the waythat can help to adapt to changes. Some important tips to consider inorder to formulate a more useful forecast are as follows: “one size doesnot fit all, understand the drivers of uncertainty, keep it simple,prepare for change, and expect the unexpected” (Blanchard, 2012). Of allof these tips mentioned, the second one “understand the drivers ofuncertainty” is extremely useful internally because it forces you toassess supply chain, manufacturing, dem