In 2014, Deloitte reported that 80% of organisations spent eight weeks or more on annual budgeting. Yet despite this significant time commitment, the most obvious and basic aspects of risk management/mitigation are often not explicitly integrated into the budgeting process.
Now, nearly five years on, CFOs and business managers still confront a number of unknowns when making decisions around budget initiatives and business plans. Factors such as the size of the business opportunity, the way competitors are exploiting the market, or the availability of talent to drive the initiative are often unknown. At Norman Broadbent, our Research & Insight Practice provides clients with hard facts and additional information to help ‘de-risk’ their budgets/business plans.
Our Research & Insight Practice offers a bespoke analysis, providing clients with specific, ‘real-time’ insights into the unknown factors driving their budgeting decisions, including:
- The size of the business opportunity
- The way competitors are exploiting a market or opportunity
- The way a competitor is organised and how their team are structured
- The optimal organisational structure/minimum critical mass to exploit the opportunity
- The Talent available to drive this initiative or budget
- The cost of the new hires, the possibility of them joining, and the factors which may delay them starting
- How your business compares with the competition.