Early Warning Toolkit
Posted August 16, 2018| Robert Flynn and Ken Sawka
Establish an early warning system that keeps your company one step ahead of market trends + competitors.
Early warning programs empower business executives to anticipate external threats and opportunities in a structured, evidence-based manner.
Systematic monitoring of today’s marketplace through a continuous framework enables accurate decision-making when, and even before, the competitive landscape shifts.
Building an early warning program is not easy.
It’s one thing to define a competitor set or rank specific growth opportunities, but designing, funding, resourcing, and implementing a company monitoring program for all potential eventualities can seem overwhelming to the point of paralysis.
In fact, we found that even after successfully charting their
market position and identifying strategic risks, a majority of firms fail to incorporate monitoring programs into their strategic plans. The danger of such a gap is a lack of foreknowledge and
diminished decision-making power.
So how can companies build early warning programs from scratch?
Through scenario planning. Scenario planning provides a structured framework to develop corporate early warning systems.
With a proven four-step approach, the Fuld + Company framework provides the methodology and best practices to prepare your business for an uncertain future.
The Early Warning Toolkit empowers your organization to:
1. Identify industry dynamics and the drivers of market disruption
2. Develop plausible future scenarios and determine key indicators to track
3. Establish critical success factors that will drive your company’s unique monitoring program
4. Implement an Early Warning Program to ensure execution and implementation and to activate reporting