Benefits of future management
Seeing more of the future primarily means having more time to gain, develop or maintain a headstart. The resulting benefits of future management can be summarized in the following six points:
- A better competitive position: Future management provides knowledge on future developments and therefore offers a time advantage over your competitors concerning the development and implementation of strategies, products, processes and systems.
- Safeguarding your future: Market changes, which are recognized too late or incorrectly assessed, can quickly threaten your existence. Those who recognize possible dangerous developments at an early stage can prepare for them with contingency strategies earlier and therefore more easily.
- Increased earnings: Future management identifies a large quantity of high quality future markets and future opportunities and thus expands your scope to develop and exploit income potential.
- Cost savings: If you and your employees have a clear strategic vision of the desired future of your company, the amount of coordination and conflict as a result of differences in direction is significantly reduced. You can manage your company more easily. The increased efficiency and effectiveness can be measured in relative cost reductions.
- Improvements in strategic decisions: The more substantiated and robust your assumptions on future environmental developments, the better the quality of your strategic decisions.
- Improvements in motivation and confidence: The certainty of having comprehensively and soundly answered the key questions on the future improves your employees’ motivation and their trust in the future of your company.