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The Business Environment Essay

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Below is an essay on "The Business Environment" from Anti Essays, your source for research papers, essays, and term paper examples.

The Business Environment Week 4
Scenario Planning Working with Government NGOs

Scenario Planning
• In an uncertain business environment, companies seek to Limit risks that emerge from external influences in the future
• Identify   ____________________________opportunities
• Scenario planning is a useful tool to achieve these two objectives
• Scenario planning can mitigate some of the mistakes businesses may make in planning….

What is Scenario Planning?
• “A discipline for rediscovering the original entrepreneurial power of creative foresight in a time of accelerated change, increasing complexity and genuine uncertainty”
• “Making choices today with an understanding of how they might turn out tomorrow”

Applied Dreaming….
• Creation   __________________________________________ ___ scenarios that extrapolate present external issues and trends that are anticipated to be important to the company in the future
• Extrapolation occurs along several dimensions:
o Economic factors
o Political factors
o Legal factors
o Social factors
o Technological factors
o Natural Resource factors
• Our course is a scenario planning session
o We build a plausible scenario of the five year future for Canadian business, week by week, factor by factor

Example of Scenario Planning - Shell Oil early 1973
• Undertook scenario planning exercise
• Two main scenarios
o 1.‘business as usual with small changes for next five years’  
o 2. ‘massive oil price increases because of OPEC’  
• Managers made action plans based on both scenarios
• When OPEC price spikes started, Shell was prepared

How Does Scenario Planning Work?
Five Steps
• Evaluate future external environment for the company
• Identify major issues and trends that could impact the company, as a way of focusing
• Develop a small number of future scenarios that could face the company
• Identify what company would do if these scenarios occurred
• Identify what the company can do now to prepare in...

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MLA Citation

"The Business Environment". Anti Essays. 14 Dec. 2018


APA Citation

The Business Environment. Anti Essays. Retrieved December 14, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/The-Business-Environment-310142.html

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