Scenario Planning

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Description

Scenario Planning

Scenario Planning

ANSWER


Scenario planning is also called scenario thinking is a strategic planning technique that is used by organizations in making long term plans. This technique is mostly used by policy or decision makers in coming up with a conclusion concerning a business. The original method used in scenario planning as far as businesses are concerned, this planning was viewed as a way of changing attitudes concerning the exogenous part of the business world before formulation of particular strategies. Importantly, the aspect of scenario planning involves the concept of systems thinking particularly the recognition that a number of factors may combine in complicated ways in the creation of the future. It should be noted that, the aspect of scenario planning incorporates factors that are difficult to formalize which include shifts in values and unprecedented regulations or inventions.