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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]
All strategic plans should be built upon a grounded, validated and accepted set of strategic assumptions. Any strategic plan or decision is only as good as the strategic assumptions upon which it is based. Strategic assumptions surface and are usually identified when scenario planning is undertaken during a strategic planning process. The ...
In this scenario, formal planning systems are criticized by a number of academics, who argue that conventional methods, based on classic analytical tools (market research, value chain analysis, assessment of rivals), [2] fail to shape a strategy that can adjust to the changing market [3] and enhance the competitiveness of each business unit ...
The output of strategic planning includes documentation and communication describing the organization's strategy and how it should be implemented, sometimes referred to as the strategic plan. [10] The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and specific action plans ...
Strategic planning is a means of administering the formulation and implementation of strategy. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control ...
Assumption-based planning in project management is a post-planning method that helps companies to deal with uncertainty. It is used to identify the most important assumptions in a company's business plans , to test these assumptions, and to accommodate unexpected outcomes.