Scenario planning: Providing insight for impact

Quality decision-making has never been more important- or more difficult. Competition is relentless, new innovations disrupt the status quo, and torrents of information add to the increasing complexity of business. No organization has the luxury of locking into a single view of what the future may look like and placing all their bets on that outcome.

Scenario planning is a management tool that is designed to allow organizations to evaluate the efficacy of strategies, tactics, and plans under a range of possible future environments. Scenario planning can also be a valuable addition to an organization’s risk management toolkit by addressing the potential impact of alternative scenarios on an organization’s risk profile.  

In short, it is a perfect tool for today’s increasingly uncertain and volatile world.