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Scenarios are a powerful tool in the strategist's armory. They are particularly useful in developing strategies to navigate the kinds of extreme events we have recently seen in the world economy. Scenarios enable the strategist to steer a course between the false certainty of a single forecast and the confused paralysis that often strike in troubled times. When well executed, scenarios boast a range of advantages--but they can also set traps for the unwary.
Scenario Planning is not rocket science. People do not routinely create robust sets of scenarios, create contingency plans for each of them, watch to see which scenario is emerging, and live by it. Scenarios are in fact harder than they look – harder to conceptualize, harder to build, and uncomfortably rick in shortcomings. A good one takes time to build, and so a whole set take a correspondingly large investment of time and energy.
But having the guide in undertaking Scenario Planning can enable companies to better come up with more dynamic scenarios. This framework serves as a primer to Scenario Planning, detailing the core benefits of Scenario Planning, as well as pitfalls and leading practices.
There are 3 core benefits of Scenario Planning are:
1. Expansion of Thinking
2. Unveiling of Inevitabilities
3. Protection against Groupthink
Scenarios do not provide all the answers. With that said, scenarios can help executives ask better questions and prepare for the unexpected.
This deck also includes slide templates for you to use in your own business presentations.