Scenarios as a Strong Support for Strategic Planning

Abstract

The article deals with the concept of scenario planning. Based on methodological platform, it describes in details stepwise process of scenarios construction. It introduces and discusses various types of scenarios which might be respected due to development of entrepreneurial environment. Respecting indicated risk factors from the business environment and theirs influence on key risks of the firm’ performance, the spread of scenarios is being drafted. The basic scenario concerning set strategic goals and the most expected probability forms a referent version opening determination of the scenarios variety. In business practice commonly three or four scenarios are used. The space delimited within each scenario enables to do serious managerial decision making processes by testing and selecting appropriate strategic variant of the business plan. According to Risk Appetite of each firm each of scenarios can be quantified. The choice depends usually on stakeholder’ attitude or Risk Appetite of the firm’ management [1].

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