In a time of such upheaval, companies are scrambling to understand and implement all the necessary interventions for a coordinated strategy to mitigate risk. In the meantime, it is down to individual managers to make tough calls on the front lines.
In these uncertain landscapes, businesses can either try to predict the future or attempt to respond rapidly to change. Extensive prior research has found that comprehensive planning efforts tend to fail in unstable environments.
Ashley Lam shares, “Earlier in my career, I wish I had had more bravery to advocate for myself.” One manager I had said, ‘No one can read your mind on what you want and where you want to be in five years. You have to go out of your way to tell people what you want.’”
Professor Daniel Wong proposes an agile framework to help companies prepare for future supply chain disruptions. These include increased resilience, digital transformation, geopolitical awareness and participation in local thought leadership.
Portland State University Graduate Business Blog 