Thinking in Scenarios -
as a method of innovative strategic planning (Part 2)
“It is not important to know, but to be prepared for the future” (Pericles)
Scenarios in strategic management
Scenarios can be used as part of strategic management, in order to assess existing or alternative strategies, or to develop new ones.
- Assessing existing strategies by means of scenarios
As part of this approach, the existing strategy is examined with regard to its adequacy vis-à-vis alternative developments. In this, the strategy is assessed by comparing it with individual scenarios - how favourable or unfavourable it appears given the respective alternative conditions. The scenarios, as it were, form a test environment if certain strategies and decisions have to be evaluated.