Question: you need to write me a Scenario Planning about the trend below Trend selection Some managerial decisions that might be good for a firms profitability
you need to write me a Scenario Planning about the trend below
Trend selection
Some managerial decisions that might be good for a firms profitability in the short-term, but bad for the firm in the long-term. (find specific situations based on doing, with 2 examples)
Scenario Planning
Apply the scenario planning framework to the selected trend using the below nine stages (see the recommended text for detailed scenario planning stage descriptions):
- Determining the question
- Contextualisation
- External drivers
- Ranking and ranging
- Naming and framing
- Logic and narrative
- Distillation and dialogue
- Validation and refinement
- Interpretation and implementation For example, the first stage is 'Determining the Question', the framing of which is critical to the integrity and accuracy of the scenario. Here, you should follow a what if approach to keep your scenario plan focused and reflective of the core question being asked. Examples from the recommended text include: What if the temperature of the planet were to rise by one degree per century? What if one of our competitors were to create an engine that ran on electricity rather than petrol? What if consumers only bought products that were proven to be sustainable? As you develop your scenarios, keep in mind that a good set will contain two to five different possible future conditions or events. More than five scenarios tend to get confused with one another, and three scenarios run the danger of deciding on the most moderate or most apparently plausible. Four scenarios is a good number neither too many, nor too few.* Each scenario should contain enough detail to assess the likelihood of success or failure of the different strategic options.
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