Scenarios (in strategic planning)

Scenarios in strategic planning are like detailed stories about possible future situations a business might face. They help organizations imagine different environments—such as economic changes, new competitors, or technological shifts—and consider how these could impact their goals. By exploring multiple scenarios, companies can develop flexible strategies, prepare for uncertainties, and identify opportunities or risks that might not be obvious. Essentially, scenarios serve as tools for thinking ahead and making informed decisions, ensuring the organization stays adaptable regardless of how the future unfolds.