Do you do scenario planning

Re: Do you do scenario planning

We have an exercise we go through every 5 years that has the group answer the question: If you pick up a newspaper 10 years down the road what would they say about our industry - what will be the key drivers, the challenges and the criteria for success it really opens your mind to the potential scenarios

Re: Do you do scenario planning

We do something I would not call it scenario planning but we try to look outside our industy and try to find other industries that have faced some of the things we are facing in the past and try to learn how they reacted/handled the industry dynamics

Re: Do you do scenario planning

We have an exercise that we go through that goes something like this:

1. Define the biggest threats and opportunities over the next 5 years
2. Rank them
3. (Individually) what would happen to our firm if the top 3 threats came true
4. same thing for opportunities
5. Group discussion
6. Most probable scenario
7. How do we prepare for it

Re: Do you do scenario planning

Business Watch;31667 wrote: We have an exercise that we go through that goes something like this:

1. Define the biggest threats and opportunities over the next 5 years
2. Rank them
3. (Individually) what would happen to our firm if the top 3 threats came true
4. same thing for opportunities
5. Group discussion
6. Most probable scenario
7. How do we prepare for it

This looks like a very good exercise - how successful have you been with it what are some of the pitfalls of the exercise - any feedback would be helpful I may try it on a client.

Re: Do you do scenario planning

i think scenario planning is a good idea because scenario is a consistent view of what is likely to be. developing scenarios , also can be described as contigency planning . which is means if this is happens then this is what you need to do

Re: Do you do scenario planning

Business Watch;31667 wrote: We have an exercise that we go through that goes something like this:

1. Define the biggest threats and opportunities over the next 5 years
2. Rank them
3. (Individually) what would happen to our firm if the top 3 threats came true
4. same thing for opportunities
5. Group discussion
6. Most probable scenario
7. How do we prepare for it

Nice scenario, I also use these steps for new business planning.

Re: Do you do scenario planning

i think thats the perfect plan or part of steps that would go along with the definition of scenario planning

Re: Do you do scenario planning

cenario planning is a method for learning about the future by understanding the nature and impact of the most uncertain and important driving forces affecting our world. It is a group process which encourages knowledge exchange and development of mutual deeper understanding of central issues important to the future of your business. The goal is to craft a number of diverging stories by extrapolating uncertain and heavily influencing driving forces. The stories together with the work getting there has the dual purpose of increasing the knowledge of the business environment and widen both the receiver's and participant's perception of possible future events.
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Re: Do you do scenario planning

To answer the question, I do scenerio planning all day in my head, guess I need a small tape recorder, then I'd look like some dork walking around talking to himself........hmmmm I think my cell has that feature, need to check...then Im just some shmo talking on his phone.....ideas come from forums what can you say?

Re: Do you do scenario planning

Hello friends.....

Today almost no business operates without some kind of scenario planning. Executives take pride in rigorously evaluating wide varieties of potential influences on their businesses, from customer moves to supplier changes, shifts in energy prices, competitive actions and a whole host of other business drivers.

Given the ubiquity of scenario planning, why do so many businesses find themselves playing catch-up when their market environments change? Recent dismal share performances and record defaults make it undeniable that this aspect of .

Excercise work best for scenario planning

Thanks

Re: Do you do scenario planning

Dgrowth;31531 wrote: Do you do scenario planning or forecasting when you do business planning? If so, do you use software, exercises? what works best?

For bussiness plan exist good software like Soft Business plan Pro. It is program help to make any business plan and have a about 500 examles of real business plan (depend on version) If you need more info write me in my profile.

Re: Do you do scenario planning

Hello Friends.......

Fundamentally, however, what scenarios try to do is to capture a model of what makes for excellence (often accepting that there are several distinct kinds of excellence at play.) This model is used in a number of ways.

* First, its existence gives people something against which to react, both when addressing their daily challenges and we seeking to improve the model.
* Second, the model challenges the organisation to be explicit about where it wants to be in the universe of potential which it identifies. It requires the organisation to be relatively explicit about where such rivals as it has may be located, or may be headed.

Thanks

Re: Do you do scenario planning

Exactly we do, for those who are starting any business for the very first time it is neccesary to do scenario planning. It will help in gaining more profits from a business.