each scenario, the team should compare each strategy to find any commonalities. The strategies most effective give the most flexibility and responsiveness and can become key elements in your primary strategic plan.
The next step is to build a more detailed implementation plan based on those common strategies.
The final step for firms with multiple offices, business units or practice areas is to adapt the corporate strategic and implementation plans to fit each unit's or geography's specific needs and resources.
By examining how various strategies may occur over time, you can analyze how shifting trends could affect performance and adjust strategies as needed.
Flexibility and adaptability are key to future success and are an intrinsic part of the scenario planning process.
Part of the intent behind scenario planning is to develop skills for handling ambiguity. This process offers firms new levels of comfort in dealing with the uncertainties of our current environment.
Traditional, deterministic strategic planning that firms have grown comfortable with does not fulfill the need of the volatile environment we now face.
In this 21st century, we must plan for a world where firms are flexible and react appropriately to a variety of significant, continuously evolving drivers.
The scenario planning process offers the opportunity to practice responding to changing drivers. It also gives business owners the opportunity to build strategies and plans that will help them set their company's direction, grow confidence in their abilities to compete effectively and respond quickly to changes in the world.
Construction Business Owner, August 2011
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