What is scenario planning?
An example of an AI chatbot conversation about scenario planning and its importance in strategic decision-making.
What is scenario planning?
Scenario planning is a strategic method used to make flexible long-term plans by considering various future scenarios.
Why is scenario planning important for businesses?
It's important because it helps businesses anticipate changes, manage risks, and adapt strategies to different possible futures.
Can you give me an example of scenario planning?
Sure! A company might create scenarios based on economic downturns, technological advancements, or regulatory changes to prepare for each possibility.
How often should companies engage in scenario planning?
Companies should engage in scenario planning regularly, ideally annually, to stay updated on trends and adjust their strategies accordingly.
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