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3.4 & 3.6 - Coggle Diagram
3.4 & 3.6
Scenario Planning
It is a decision aid technique for structuring decisions that involve risks and under uncertainties, associated with ambiguity and ignorance.
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Devising scenarios that may play well or bad in the organisation and test the probable consequences when making major strategic decisions
Scenario planning uses the notion of robustness. The aim is not to maximise value, rather, it is to select the best option that will play well for the firm.
It concerns with the most important carefully chosen scenarios, NOT with assessing probabilities
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Steps of Scenario Planning
(Shoemake, 1993)
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Step 3: Make a list of current trends, or predetermined elements
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