scenario

Examples of scenario in the following topics:

• Responding to Uncertainty in Strategic Planning

  • Uncertainty exists when there is more than one possible outcome; it is best managed using scenario-planning tools.
  • Instead of just following trend lines, scenarios focus on the collective impact of many factors.
  • Scenario planning helps to understand how the various strands of a complex tapestry move if one or more threads are pulled.
  • Scenario planning starts by separating things believed to be known, at least to some degree, from those considered uncertain or unknowable.
  • Scenario planning for business was originally established by Royal Dutch/Shell, which has used scenarios since the early 1970s as part of its process for generating and evaluating strategic options.

• Overview of Strategic Planning Tools

  • Scenario planning is an interesting tool with which strategists construct various scenarios to test out the potential trajectories of specific operational plans.
  • One popular scenario application is called the zero-sum game, where the costs and revenues are equated to see at what level of cost or what level of revenue a zero-sum bottom line can be achieved.

• Personal Biases

  • Halo effect: This is the distortion of a person's overt positive or negative characteristics that are amplified and applied to other situations or scenarios.

• Codes of Conduct

  • It may be styled as a code of professional responsibility that covers common scenarios and decisions and provides a guide to what behavior is considered ethical, correct, or right in certain circumstances.

• Training Ethical Decision Making

  • Discussions of scenarios and role-playing exercises simulate real decision-making situations and provide practice in how to think through ethical considerations.

• The Mission Statement

  • In a best-case scenario, an organization conducts internal and external assessments relative to the mission statement.

• Fulfilling the Planning Function

  • Planning combines forecasting of developments with preparing scenarios for how to react to those developments.
  • Planning revolves largely around identifying the resources available for a given project and utilizing optimally to achieve best scenario outcomes.

• Non-Rational Decision Making

  • This process takes into account new information and considers multiple scenarios of how the future will evolve.

• Management in Different Types of Business: For-Profit, Non-Profit, and Mutual-Benefit

  • In this scenario, managers often reach out to individuals passionate about the organization's mission to contribute through monetary donations or volunteer hours.

• Applying the Decision Tree

  • A decision tree for a tough problem allows the decision maker to visually lay out each scenario and make a detailed consideration.