Question: In the book, it goes over a few different tools and techniques to plan better. Some of these tools are forecasting, contingency planning, scenario planning,
In the book, it goes over a few different tools and techniques to plan better. Some of these tools are forecasting, contingency planning, scenario planning, and benchmarking.
Forecasting is attempting to predict the future. (Uhl-Bien, 2021) Forecasting can be accurate, but since it is in the unknown future, there are many famous examples of forecasting gone wrong.
Contingency planning is essentially having a backup plan. When things go wrong, what is the plan that happens next? This is important especially when there are serious consequences for when something goes wrong.
Scenario planning is the long-term version of contingency planning. (Uhl-Bien, 2021) It takes contingency planning to the next step by envisioning entire scenarios to plan out. This allows firms to see a wide range of possibilities
Benchmarking uses comparisons in order to plan for improvements. Without benchmarking, one can be sure if what they are doing is good or bad. What defines good or bad? We do not know without benchmarking.
Personally, I have found benchmarking to be the best way in order to get better. In the restaurant industry, I am able to go to another restaurant within my market, and observe what they are doing and how they are able to do it well. In our restaurant we are constantly looking for ways to serve and impress our customers with quality customer service and a fast speed. please discuss
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