Being future-ready and future-proof calls for being equipped with digitisation tools Michael Waters is associate professor, real estate at Heriot-Watt University Dubai Image Credit: Supplied
Planning for the future in any industry is a rather abstract concept. The future is unknown. Human decision-making is ripe full of errors and cognitive bias, which perhaps makes planning for the future a somewhat unfruitful task. What I teach my postgraduate students is fairly simplistic which is scenario planning rather than forecasting. Scenario planning is a much more effective path to take. It has a structured approach and perhaps one we can take forward in our careers. The concept is about understanding the forces of change and then planning appropriately.
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