All the Options
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Authors:
Constance Gustke -
Publication Date:
January 2009 -
Report Number:
TCBR21
Facing a crisis situation is every CEO’s nightmare—particularly at a time when so many institutions and situations are wobbling. But few plot out the potential scenarios that can trip them up. Even in volatile times, companies continue to base forecasts primarily on past data, a by-product of America’s notorious short-term orientation. Scenario planning’s strength is that it looks ahead—in every direction. The process appears simpler than it is: Define a question, create scenarios that address possible futures, and then act on the ones that appear most plausible. Team members add input at every step, creating scenarios based on two criteria: what’s known and what isn’t. The greatest uncertainty becomes the pivot.
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