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How to Identify Communicate Downturns In Your Business Part 2
This column represents the second in a two-part series, comprised of reprints from previous JBF columns. The column—reprinted in the Spring 2020 issue—was a revision of “Forecasting Heroes Catch Turning Points” (Summer 2001). It discussed ways to forecast downturns and get organizational buy-in for them. This second article is a revision of the “The Best and Worse Forecasting Year” column (Spring 2015). Such as in the first, the ideas are largely the same, yet are relevant for today’s forecasters and planners because the world is experiencing a drastic economic downturn caused by the Covid-19 virus pandemic and its ensuing mitigation efforts. This column discusses lessons learned from selling and surviving in an organization living through the realities of a ‘bad news’ annual forecast.