The executives at BearKat & Kittens Corp. are developing strategic plans to address plausible future situations like rise in the prices of cotton and synthetic fabrics by $17$ percent, appreciation in the value of the dollar, increase in the cost of labor by $13$ percent, and increase in demand for the company's products. By doing so$,$ the company will be well prepared with its planned responses if any of these situations occurs in the future. Thus, BearKat & Kittens Corp. is employing $q,$ as the approach to the development of strategy.

scenario planning

reverse engineering

top$-$down strategic planning

pattern recognition