The concept describes what business scenarios are and how to build a step-by-step process when developing a strategic plan. You will also learn what factors are critical for the success of scenario planning and the advantages and disadvantages of this approach.
Scenario Planning Definition
Scenario planning is a technique of strategic planning that relies on tools and technologies for managing the uncertainties of the future. It involves developing different plausible representations of an organisation’s future, based on assumptions about the forces driving the market and including different uncertainties (Kotler and Keller, 2011).
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Scenario Planning References (4 of up to 20) *
- Bradfield, R., Cairns, G., & Wright, G. (2015) “Teaching scenario analysis: an action learning pedagogy.” Technological Forecasting and Social Change. 100 (November): 44–52.
- Culpin, V.,Scott, H. 2012. The effectiveness of a live case study approach: Increasing knowledge and understanding of ‘hard’versus ‘soft’skills in executive education. Management Learning
- Kotler, P. and Keller, L.K. (2011) Marketing Management. (14th Ed.) Prentice Hall, USA.
- Lindgren, M. and Bandhold, H. (2009) Scenario Planning: The Link between Future and Strategy. Palgrave McMillan, UK.
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