Corporate travel professionals know a thing or two about attempting to produce forecasts amid uncertainty. According to Michael Mankins, a leader in Bain & Company’s organization and strategy practices, companies are better off nurturing adaptability, flexibility and dynamic planning than trying to get more out of the crystal ball.
Senior executives often lament, “If we only had better forecasts, we could devise better plans.” They pressure their teams to come up with more accurate projections for how their markets will evolve, competitors will respond and consumers will react — thinking that forecast precision is the . . .