The executives at Dizzy Corp. are developing strategic plans to address plausible future situations like an increase in the prices of cotton and synthetic fabrics by $20$ percent, appreciation in the value of the dollar, increase in the cost of labor by $30$ 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, Dizzy Corp. is employing$\_\_\_\_\_\_\_\_$ as the approach to the development of strategy.

The executives at Dizzy Corp. are developing strategic plans to address plausible future situations like an increase in the prices of cotton and synthetic fabrics by $20$ percent, appreciation in the value of the dollar, increase in the cost of labor by $30$ 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, Dizzy Corp. is employing$\_\_\_\_\_\_\_\_$ as the approach to the development of strategy.

pattern recognition

top$-$down strategic planning

reverse engineering

scenario planning