Scenario Planning: Developing Pictures Of The Future

Scenario planning is a process for identifying and rehearsing strategic options for possible futures. By monitoring trends and emerging technologies, environmental scanning can provide a short- to mid-term foresight, which can inform scenario planning. This process helps decision-makers converge and reach consensus on areas of change that hold strategic relevance for the future. Scenario planning helps organizations develop adaptable, responsive, and resilient strategies, which empower them to take decisive action under unexpected circumstances. Scenario planning can help focus and qualify strategic actions by ensuring company viability, understanding the future environment, preparing for the future, and shaping the future. The scenario planning process involves four key steps, which include situation analysis, projections, scenarios, and implications.