Scenario Planning Strategy

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'''Scenario Planning Strategy''' is a systematic and methodical way for organisations to define their future actions. It is considered as part of the <span class="plainlinks">[https://en.wikipedia.org/wiki/Strategic_management Strategic management]</span> tools, aiming to create a flexible plan, based on which the organisation will benefit in the long term. Scenario planning came to change and enchance the way of thinking in terms of  <span class="plainlinks">[https://en.wikipedia.org/wiki/Decision-making decision making]</span>  under uncertain cirumstancies. According to Pierre Wack "''Scenarios deal with two worlds; the world of facts and the world of perceptions''" <ref name="econo">.The Economist, "''Scenario planning''". Online article [URL: http://www.economist.com/node/12000755]</ref>. The known and the unknown are mixed and a set of different possible scenarios for a particular issue is formed following people's both subjective and objective thoughts regarding how the social, technical, economic, environmental and political (STEEP) trends are going to affect it.
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'''Scenario Planning Strategy''' is a systematic and methodical way for organisations to define their future actions. It is considered as part of the <span class="plainlinks">[https://en.wikipedia.org/wiki/Strategic_management Strategic management]</span> tools, aiming to create a flexible plan, based on which the organisation will benefit in the long term. Scenario planning came to change and enchance the way of thinking in terms of  <span class="plainlinks">[https://en.wikipedia.org/wiki/Decision-making decision making]</span>  under critical uncertain cirumstancies. According to Pierre Wack "''Scenarios deal with two worlds; the world of facts and the world of perceptions''" <ref name="econo">.The Economist, "''Scenario planning''". Online article [URL: http://www.economist.com/node/12000755]</ref>. The known and the unknown are mixed and a set of different possible scenarios for a particular issue is formed following people's both subjective and objective thoughts regarding how the social, technical, economic, environmental and political (STEEP) trends are going to affect it.
  
 
   
 
   

Revision as of 20:12, 16 September 2017

Scenario Planning Strategy is a systematic and methodical way for organisations to define their future actions. It is considered as part of the Strategic management tools, aiming to create a flexible plan, based on which the organisation will benefit in the long term. Scenario planning came to change and enchance the way of thinking in terms of decision making under critical uncertain cirumstancies. According to Pierre Wack "Scenarios deal with two worlds; the world of facts and the world of perceptions" [1]. The known and the unknown are mixed and a set of different possible scenarios for a particular issue is formed following people's both subjective and objective thoughts regarding how the social, technical, economic, environmental and political (STEEP) trends are going to affect it.




Contents

Framework

Background

Context

Analysis

Reflection

References

  1. .The Economist, "Scenario planning". Online article [URL: http://www.economist.com/node/12000755]

Annotated bibliography

1. Winch, G. M. (2010), "Managing Construction projects". Second edition
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