Why is scenario planning important in business or in the workplace? How is scenario planning different from strategic planning? Explain it clearly so that I can easily understand. And also give example.

Why is scenario planning important in business or in the workplace? How is scenario planning different from strategic planning? Explain it clearly so that I can easily understand. And also give example.

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter17: Organizational Planning And Controlling

Section17.3: Types Of Plans

Problem 1CC: Define and describe the different types of plans defined in Table 17.1 and how organizations use...

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Define and describe the different types of plans defined in Table 17.1 and how organizations use them.
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When the idea first occurred to her, it seemed like such a win-win situation. Now she wasn't so sure. Marge Brygay was a hardworking sales rep for Inspire Learning Corporation, a company intent on becoming the top educational software provider in five years. That newly adopted strategic goal translated into an ambitious, million-dollar sales target for each of Inspire's sales reps. At the beginning of the fiscal year, her share of the sales department's operational goal seemed entirely reasonable to Marge. She believed in Inspire's products. The company had developed innovative, highly regarded math, language, science, and social studies programs for the K— 12 market. What set the software apart was a foundation in truly cutting-edge research. Marge had seen for herself how Inspire programs could engage whole classrooms Of normally unmotivated kids; the significant rise in scores on those increasingly important standardized tests bore Out her subjective impressions. Bur now, just days before the end of the year, Marge's sales were $1,000 short of her million-dollar goal. The sale that would have put her comfortably over the top fell through due to last-minute cuts in one large school system's budget. At first, she was nearly overwhelmed with frustration, but then it occurred to her that if she contributed $1,000 to Central High, the inner-city high school in her territory probably most in need of what she had for sale, they could purchase the software and put her over the top. Her scheme would certainly benefit Central High students. Achieving her sales goal would make Inspire happy, and it wouldn't do her any harm, either professionally or financially. Making the goal would earn her a $10,000 bonus check that would come in handy when the time came to write out that first tuition check for her oldest child, who had just been accepted to a well-known, private university. Initially, it seemed like the perfect solution all the way around. The more she thought about it, however, the more it didn't quite sit well with her conscience. Time was running out. She needed to decide what to do. 1. Donate the $1,000 to Central High, and consider the $10,000 bonus a good return on your investment.
What are some common tools and techniques used in the planning process, such as SWOT analysis, PESTEL analysis, and scenario planning?
How would you avoid the typical disconnect between planning and implementation?
Base on the picture, why is scenario planning important in the business or workplace?
How do you think planning in today’s organizations compares to planning 25 years ago? Do you think that planning becomes more or less important in a world where everything is changing so quickly? What strategic and operational plans could the university you at which you are taking this management course adopt to compete for students in the marketplace? Would these plans depend on the university’s goals?
What are the benefits of planning? What are the limitations of planning? Define the following types of planning: Contingency Scenario Crisis Why is each type of planning above important for today’s managers?