business foresight and acumen
Introduction
Foresight is forward thinking. Business foresight is thinking of future conditions or the situations or the problems or changes that take place in business, state, country, world that might effect the business either adversely or favorably. By thinking like this the businessman, managers or the decision makers can search for the new businesses that can raise in coming days opening doors for new opportunities, act before in hand to save the business from the contingencies etc.
Business Foresight constitutes a systematic attempt to observe the long-term future of science, technology, society, the economy and their mutual interactions in order to generate knowledge which will help social, economic and environmental improvements based on well founded projections and effect business. However, it is not enough to establish a clear and efficient methodology to conduct Foresight, it is also vitally important to ensure that Foresight outcomes are taken into consideration in policy debates and decision making. Only in this way can its maximum benefits be obtained. Foresight aims to provide challenging visions of the future, to ensure effective strategies now. It can be done by possessing a core of skills in science-based futures projects and having unequalled access to leaders in government, business and science.
Complete Budgeting, Forecasting and Projections is part of foresight. Foresight brings together complete budgeting, re-forecasting and projections functionality in one comprehensive, high-performance system. From short-term budgeting to long-range projections, from periodic re-forecasting to high-level “what-if” scenarios, ForeSight provides the intelligence you need to plan ahead. One integrated, intuitive system combines time saving budgeting tools; audit, control and consolidation capabilities; and powerful forecasting of revenue, expenses and cash flow.
While talking of business foresight it is necessary to know how to
Forecast the Future
• See Where You’re Headed. Develop meaningful projections based on
accurate historical lease and financial information. Create realistic plans
and strategies grounded in sound assumptions and accurate calculations.
See where your business is going, access the impact of alternatives and
look for emerging trends.
• Speculative Leases Consider what might happen when an existing lease
expires. What if the tenant leaves, renews with certain assumptions or
exercises an option? Project the impact of leasing commissions and tenant
improvements, as well as other leasing costs such as a moving allowance or
free rent. You may also apply a blended set of speculative assumptions.
• Global Assumption Scenarios At either the workbook or assumption
level, you can adjust any period for inflation and market rates, downtime,
tenant improvements and other leasing costs. The system can apply
any assumptions to all tenants in question, eliminating the need to
continually repeat setup procedures.
• Re-Forecasting Starting with actual year-to-date information, you can
quickly produce revised forecasts for the current year. Choose to redistribute
timing variances, using a variety of distribution methods. You may also
re-forecast each month separately. Intuitive Reporting
• A Full Range of Options Develop forecasts, budgets and projections for periods beyond twelve, creating multiple projection workbooks for the same range of periods. Develop projection workbooks for an unlimited number of years in the future.
• Reporting Quickly generate variance reports. Add variance notes
on the fly. Then [next page]