Strategic Management 4e
4th Edition
ISBN: 9781260779646
Author: Frank T. Rothaermel
Publisher: Mc graw hill
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Question
Chapter 2, Problem 3DQ
Summary Introduction
To determine: The industry, which is using intense competition or featured in the business press and the way scenario planning can be used for future events.
Introduction:
Strategic management refers to formulating and implementing the way to achieve the goals by considering available resource and the internal and external environment. It will be framed by the top management on behalf of an organization.
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Explain the concept of scenario planning. How can it help organizations anticipate and prepare for various future scenarios?
Identify an industry that is undergoing intense competition or is being featured in the busines press. Discuss how scenario planning might be used by competitors to prepare for future events. Can some industries benefit more than others from this type of process? Explain why?
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What does long term planning involve?
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- Discuss. What strategies can organizations use to mitigate risks and uncertainties associated with external planning premisesarrow_forwardBased on the picture below, explain each briefly like you are teaching this to your students or give a summary explanation about how scenario planning works. Key focal issue Driving forces Critical uncertainties Scenario Frameworkarrow_forwardWhat are some common tools and techniques used in the planning process, such as SWOT analysis, PESTEL analysis, and scenario planning?arrow_forward
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- which is a better planning tool: Benchmarking or forecasting?arrow_forwardManagement Discuss the concept of scenario planning and its significance in helping businesses navigate uncertainty and plan for the future.arrow_forwardDescribe the role of scenario planning in long-term strategic decision-making for businesses, and provide examples of companies that have successfully utilized this approach.arrow_forward
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