Strategic Modelling and Scenario Planning

Strategic Modelling and Scenario Planning

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Typically, business forecasts are heavily dependent on statistics. While statistics are reliable in many circumstances, statistical forecasting does not capture the dynamics of complex environments because one of its key assumptions—that historical conditions are a valid proxy of future behavior—may not be satisfied. When this happens, statistics can be supplemented with strategic tools such as Scenario Planning. Scenario Planning describes how potential futures may unfold and helps prepare for them. Scenario Planning helps decision-makers discern developments that could transform a company, an industry, a country, or the world.

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