![]() Similarly, scenario planning and analysis attempts to capture the richness and variety of possibilities facilitating decision makers to consider those caveats that might go unnoticed. whilst being combined with geographical mapping to curtail the possibility of human fallibility to almost null. Think in terms of a pilot ready to take off his plane a detailed plan will be put in place using up-to-date data from air traffic controllers, meteorological department, aerospace safety, etc. Scenario based planning encompasses all sorts of uncertainties/alternate futures in which today’s decisions might play out. Scenario planning can actually make a difference when it comes to myopic errors resulting from wrong assumptions people tend to make almost unknowingly. But can we succeed where trained world leaders and politicians failed? The global financial crisis or the Great Recession of 2007-09 counts as another reminder where the Federal Reserve and the Bush administration remained overly optimistic and persistently denied signs of an impending crisis quintessential of how humans have an unbridled ambition to inordinately underestimate scenarios at hand. In 1910, the Scientific American blazed that “to affirm that the aeroplane is going to ‘revolutionize’ naval warfare of the future is to be guilty of the wildest exaggeration.” History of mankind is replete with such examples. Navy to even envisage the role of airplanes in naval warfare. With a correct analysis of basic trends and uncertainties your business can ascend impediments and steer clear on the path to success.Īround a hundred years ago, it was off the pages for the U.S. Scenario Planning has almost become a prerequisite for companies to combat any or all future uncertainties- or more conveniently a risk mitigating device to be precise which is by and large used by organisations to avoid perilous situations as a result of sloppy underpinnings. ![]()
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