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Scenario planning is as much art as science, and prone to a variety of traps (both in process and content) as enumerated by Paul J. H. Schoemaker. [14] More recently scenario planning has been discussed as a tool to improve the strategic agility, by cognitively preparing not only multiple scenarios but also multiple consistent strategies. [10]
Instead, scenario planning is a technique in which multiple outcomes can be developed, their implications assessed, and their likeliness of occurrence evaluated. According to Pierre Wack, scenario planning is about insight, complexity, and subtlety, not about formal analysis and numbers. [61]
For strategic planning to work, it needs to include some formality (i.e., including an analysis of the internal and external environment and the stipulation of strategies, goals and plans based on these analyses), comprehensiveness (i.e., producing many strategic options before selecting the course to follow) and careful stakeholder management ...
Whipsawing policies, tariffs, and what else business could expect from a second Trump presidency. Business leaders have already begun scenario planning for a Trump win. 3 clear themes have emerged ...
This will include planning-centric software and the tools to support strategic and tactical planning for and across the enterprise, such as: strategy formation and scenario planning software (for example, supporting Sales and operations planning process) performance measurement and evaluation software; project management software
Using middle managers in this role allows these individuals to raise their own strategic leadership bar. And it is through these middle managers that the organizational story becomes more accessible in those settings and situations that they know much more intimately than senior managers.
Pierre Wack (1922–1997) was a French oil executive who was the first to develop the use of scenario planning in the private sector, at Royal Dutch Shell’s London headquarters in the 1970s. So successful was he that the Anglo-Dutch oil giant was able to anticipate not just one Arab-induced oil shock during that decade, but two.
Soldiers training for a worst-case scenario prepare for a simulated underwater helicopter crash. A worst-case scenario is a concept in risk management wherein the planner, in planning for potential disasters, considers the most severe possible outcome that can reasonably be projected to occur in a given situation.