What Are The Advantages And Disadvantages Of Scenario Planning

The challenge in planning is that planning is essentially forecasting future actions and events. Most

The structure and design of organizations have drastically changed over the last twenty-five years. Organizations develop new goals at the beginning of the year or after the completion of previous goals, and heavily depend on planning to help achieve these goals. Planning is an integral part of organizational success, as upper management receives substantial information on various needs such as risk uncertainty, available resources, employee development, and unforeseen changes in technology (Daft, 2013). Most importantly, successful planning allows management to make effective decisions when unforeseen events arise within the organization. Not participating in planning is equivalent to taking a road trip across the country without a

Organizations plan according to the changes in the environment. Planning for organizations 25 years ago was stable. This was due to the fact; organizations during that time frame remain essentially the same. There was no need to be worried about a volatile economy, or market. In the past organizations didn’t have to primarily plan for the uncertainty, as they have to do now. They generally planned for making profits and understanding how to enlarge

Strategic planning is crucial for the success of all business endeavors. Analyzing currents trends in technology, consumer markets, competition, and the workforce can play a pivotal part in whether or not the organization can survive. Overtime, strategic planning strategies must be modified in order to compensate for changes in the industry. Goals and strategic planning often necessitate change to ensure that the organization is performing at peak level, while offering the most beneficial and quality services to consumers.

A major part of the planning stage is the proposed solution for the implementation. After the evidence is analyzed critically, a plan is developed to implement with the help of a change model. Before implementing change, it is important to follow the steps, which includes: analyze change, know the elements and the way to apply change (Houser & Oman, 2011).

Should a contingency plan not be created, catastrophic results may occur. It’s evident that every day will not be the same and the likelihood of unforeseen events are typical to take place. Risk identification is a major step in the production of the plans. There may be a history of an issue that needs to be looked at. You may need to create a potential issue and work through the consequences of this happening. There may even be known problems that you are expected to face. It’s important to look at all scenarios and be ready for the worst.

For a goal-oriented person, a strategic plan can set direction and serves as a template for consistent decision making that moves the organization toward its envisioned future (Zuckerman, 2013). On the other hand, Zuckerman (2013), poses a different perspective that states that strategic planning may not be strategic after all, becomes as I explained before, it can become a checklist technique that lacks innovative practices. However, the outcome of the strategic planning process relates further to the mission and vision of those who are developing the strategies than in the planning within itself. Therefore, the reality is that strategic planning can be as straightforward and complex as an organization wants it to be. Therefore, if an organization envisions growth, the proposal needs to provoke that, and if a team is only planning to organize itself; then, the plan can be subtler. Therefore, organization can review plans as often as yearly and can last as long as five

The use of scenarios in emergency planning as an exploratory tool would let emergency planners be able to explore and anticipate needs generated by the scenarios. So, having an assortment in possible outcomes, in conjunction with an assessment of emergency resources designed to answer the question of whether there are sufficient and appropriate to match the anticipated need. The more bizarre the scenario, the better ‘experienced’ the emergency planners would be if that scenario did

Strategic Planning is one of the most fundamental factors in the success of an organization. This research project will discuss the importance of strategic planning as well as the different components of strategic planning. Many organizations fail to accomplish their goals and tasks due to the lacking of strategic planning. In order for their businesses to be successful, organizations need to be well informed about how the strategic planning process works.

The planning school of thought is a strategy that emphasizes the need for an organization to ensure that its business strategy is in alignment with the environment that it operates. In other words, an organization’s strategy must ‘fit’ the environment that it chooses for a business operation. A meticulous analysis of both the internal and external environments is considered in the planning school of strategy. Furthermore, the planning school of strategy often requires details that could probably make an organization not flexible to a market even when conditions demands flexibility (Barnat, 2014). Additionally, this strategy employs organizations to implement various marketing theories and Product Life Cycle in understanding the maturation of the market so that with past trends coupled with

Planning helps the organisation overcome any future uncertainties and also helps avoid risks associated with business.

The effective contingency plan should only include the high-priority items and it should be as simple as possible. The purpose for the contingency plans is to response quickly when there are changes of an organization’s current strategy. For example, the predefined strategy is based on some assumptions about the economy but the outcome is not what the organization assumed, the contingency plan can support the organization to react promptly. The effective contingency planning includes a seven step process. First, Identify both beneficial and unfavorable events that could possibly derail the strategy. This step includes the development of the formal contingency planning policy statement in order to provide it to relevant stakeholders the authority and guideline that required developing the effective contingency plan. Policy will be published when executive confirms it. To gather the high-level business requirements, define scope and allocating project resources. Second, Specify trigger points and calculate about when contingent events are likely to occur. It involves the Business Impact Analysis (BIA) to identify threat scenarios, prioritize key business processes and critical systems for business continuity. Executive approval on those choices of the critical business functions and the priority to recover during the disaster. Third, Assess the

In this study, the fields of emergency management, business continuity, strategic planning and scenario futuring were critically analyzed with a goal of developing an integrated strategic contingency planning model. This model will assist organizations in bringing their contingency planning program to a strategic level. Contingency planning can be fully integrated with day-to-day business processes if a new mindset is promulgated in the organization. Contingency planning no longer needs to be an isolated, specialized

Forecasting involves using past data to generate a number, set of numbers, or scenario that corresponds to a future occurrence. It is absolutely essential to short-range and long-range planning.

Each organization requires different strategic planning, as there is no single strategic planning model that suits all organizations. Every organization has to develop model of strategic planning according to its own development, its nature of business and as per their own planning process. These models provide an extent of options on the basis of which different organizations might be able to select an approach and initiate to grow their own strategic planning process. Any organization might select to combine the models suitable to their planning process, for example, they can use a Basic model to recognize strategic issues and aims, and then they can select an issues-based model to develop approach to initiate the issues and grasp the