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- Scenario planning | Psychology Wiki | FANDOM powered by Wikia
- Scenario Planning - Revised and Updated Edition: The Link Between Future and Strategy
- Scenario Planning and Strategic Forecasting
As you may notice, scenario planning is more a subjective technique enabling dialogue within the company than a data-driven analysis and this is actually what gives it strength.
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As long you understand how to use scenario planning and how not to fall into these traps, there is no doubt you will feel more confident about which decision to make, which strategy to choose regarding the future. And if need be, SME Strategy can help you chart your path! Contact us if you're interested in learning more about how to do scenario planning or how to get alignment on your strategic plan, or learn how to lead your team through the process yourself with our custom Strategic Planning Starter Kit:. Topics: Strategic planning , Business strategy , scenario planning , Strategy Frameworks.
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He loves helping entrepreneurs with their strategic issues, writing blogs and assisting with market research. He is also fond of sport, particularly water sports.
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SME Strategy is a management consulting firm that specializes in helping organizations with their strategic planning process. We work with teams to facilitate conversations about strategic direction and business strategy so that our clients can focus their energy on what will move them forward faster. Strategic Planning and Management Insights.
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Did you say Scenario planning? What is scenario planning?
Scenario planning | Psychology Wiki | FANDOM powered by Wikia
So how to use scenario planning? Identify your critical uncertainties: Once you have identified your driving forces and made it a list, pick up only two those that have the most impact on your business. Develop a range of plausible scenarios: The goal is now to form a kind of matrix with your two critical uncertainties as axis see the above example. Discuss the implications: During this final step, you should discuss the various implications and impacts of each scenario and start to reconsider your strategy: set your mission and your goals while taking into account every scenario.
Scenario Planning - Revised and Updated Edition: The Link Between Future and Strategy
Some pitfalls to avoid A common trap is to be paralyzed by the multitude of possibilities. Keep it simple and focus on two major uncertainties. Another common mistake is to believe that you have to choose one particular scenario and build your strategy around it. Scenario planning is not about choosing just one option for the future but rather dealing with all of the possible outcomes to develop a strategy that will stand the test of all scenarios.
Scenario Planning and Strategic Forecasting
Also, when developing your different scenarios, try to not look at the short term that is to say example at your existing market, products or competitors. Do not hesitate to look far ahead, anticipating what the market and competitors are going to be over the next years. In a word, be creative! Recent Popular Categories. About Us.
More Links. Recent research in the field of business strategy has shown that strategic flexibility can be achieved through a scenario planning perspective for long term competition and performance.
The authors have drawn upon examples and cases to develop a new model for scenario planning that is closely integrated with strategy. They argue that the concept of scenario planning is as much an art as a practical management tool.
Some Reasons from the Field of Strategy Research. An Introductory Overview. Further reading.