by Paul Simister
on July 17, 2018
This is part of the P3M2 module from the Pillar 3 Your Strategic Market Positioning.
Scenario Planning – How To Deal With Major Uncertainty In The Future Economic Environment Of Your Business
The Outline
- Technique is not recommended for most small businesses
- Build alternative views of the future world and test strategies in each world.
- “Fork in the road” e.g. UK & EU
- Collective learning for the team
- Some foresight better than none
- Increases awareness – Boiled Frog syndrome
- Disruptive change may be unpredictable
First I should make it clear that I don’t recommend this for 95% of small businesses.
However if you are facing a major uncertainty in the future, it is a powerful way to help you to work through the different options and decisions. [continue reading…]
by Paul Simister
on September 20, 2011
A few years ago I believed that scenario planning techniques were too complicated and time consuming for many small businesses to focus on.
I saw scenario planning as a strategic planning tool for big companies but small and medium sized businesses were better off putting together their plan on most likely assumptions and then get on with implementing it.
I was wrong.
While scenario planning still won’t be right for many smaller businesses – what they get out from the exercise won’t be worth the time and effort they put in – for some, using effective scenario planning techniques is the only was to make sure that the strategy is robust enough to cope with alternative future realities.
[continue reading…]
