To succeed in business today, you need the ability to navigate rapidly shifting currents. Traditionally, these have ranged from evolving technologies and new competitors to changing regulations and emerging geopolitical trends.
These days, with the COVID-19 epidemic, you are facing even more fundamental questions about the ability for customers to pay, access to critical supply chains, and the health and safety of your workforce.Scenario planning—a process for identifying, and rehearsing strategic options for, various possible futures—was never a luxury before, and as recent events are teaching us, never will be again.
While it draws on trend analysis and forecasting, scenario planning goes beyond thinking about what the future might look like. When done well, it drives more adaptable, responsive strategy, empowering companies to take action decisively and with confidence— as in the following real-world examples.
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