Building Knowledge Nexus

Scenario Planning

Important issues have to be considered - but how?

• How will your competitors likely respond to your new product, service or price?
• How will you counter this response?
• What should you do if the market rises or falls?
• How will you engage a new client, or win that new contract?
• How will new regulations affect your business?
• Where should you focus your efforts for maximum return?

In an increasingly dynamic and uncertain business environment, scenario planning provides you with a powerful tool to help develop effective corporate strategies and enhance your firm’s responsiveness to future events.

Scenario planning is not an exercise in "crystal ball gazing", trying to figure out what’s most likely to happen next year, or five years from now, or ten. Scenario planning is a strategic planning method expressly developed to test the viability of alternative strategies.

But how do you decide which scenarios should be considered and which discounted?

Scenario Planning with BUILDING KNOWLEDGE^TM

By working with you to consider the scope of uncertainty, risk, and opportunity within plausible scenarios for your business, BUILDING KNOWLEDGE^TM helps you develop realistic models you can use to implement your strategic planning and risk modelling. Our approach involves identifying market trends and exploring the implications of their influence on your firm, your competitors and your customers. As identified trends (and likely combinations of trends) are chosen, a range of likely possibilities can be identified, mapped and strategies properly developed to give your firm the ability to react appropriately.

BUILDING KNOWLEDGE^TM scenario planning work also offers an optional Change Management component. It is common for both individuals and groups to resist organisational change, prehaps through uncertainty, perhaps through incompltet understanding. So, in addition to encouraging the identification and articulation of important issues by your staff, our exercises apply well established techniques (including brain storming, PESTLE analysis (examining the political, economic, social, technological, legislative and environmental effects on your business), study of past successes (and failures), examination of new technologies, etc.) to facilitate understanding, acceptance and uptake of the actions developed by everyone affected, so you can be confident that when a situation does arise, your staff are prepared to act.

Like to Know more?

If you would like to know more about how you can benefit from scenario-planning, contact us for an obligation-free, brief consultation.