Managing uncertainty: harnessing the power of scenario planning.

Oliver, J. J. and Parrett, E., 2017. Managing uncertainty: harnessing the power of scenario planning. Strategic Direction, 33 (1), 5 - 6.

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DOI: 10.1108/SD-09-2016-0131

Abstract

Purpose: To provide an overview of the role that Scenario Planning can play in managing the uncertainty caused by changing and unpredictable competitive dynamics. Design/methodology/approach: This viewpoint reflects both the practical experience of strategic planners, combined with an academic insight into the advantages of using Scenario Planning as a management tool. Findings: Firms can develop Corporate Level Strategy and gain long-term certainty in their strategic approach by using Scenario Planning to strategize in a way that allows them to prepare for multiple futures, with multiple strategies. Practical implications: Firms can manage environmental uncertainty and turbulence by being ‘mentally prepared’ to address the future by evaluating the critical uncertainties driving turbulence and the strategic options relevant to a number of possible future outcomes. Social implications: Not applicable Originality/value: A unique combination of practical experience fused with academic knowledge on harnessing the power of Scenario Planning to manage uncertainty and develop organizational strategy. Keywords: Corporate Level Strategy, Managing Uncertainty, Competitive Dynamics, Strategic Planning, Scenario Planning.

Item Type:Article
ISSN:1758-8588
Uncontrolled Keywords:Corporate Level Strategy ; Managing Uncertainty ; Competitive Dynamics ; Strategic Planning ; Scenario Planning
Group:UNSPECIFIED
ID Code:25929
Deposited By: Unnamed user with email symplectic@symplectic
Deposited On:03 Jan 2017 15:42
Last Modified:03 Jan 2017 15:42

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