question 1
The process of setting the advisable strategy consists of many features such as external, internal, stakeholders and SWOT analyses. The scenario planning might be a next useful strategic planning tool (Thompson and Martin, 2010).
Analysing the scenarios is often used tool in the strategic planning. It helps to explore possible future of company Process of analysing the scenarios includes mainly the setting the potential outcomes how to solve a certain situation or problem (White, 2004).
Setting the potential pathways, manager can see the number of possibilities (Finlay, 2000). This process may help the decision maker to react in the right way to what may happen and be prepared for that (Thompson and Martin, 2010).
That enables the manager to be less shocked in case that change occurs and it may build better position by considering possible future. Then it is easier to deal with soma unexpected change and decrease the uncertainty (Thompson, 2001).
The second part of the question asks for identifying commonness in possible future and potential pathways.
For example, there is a company which produces electronics (cell phone, tablet and MP3 player). It has a problem that its sales decrease and even company is not able to pay a loan. The reason may be for example lack of the investment in the innovations and deficient customer research focusing on its need and behaviour.
A decision making manager after the internal and external analyses decided to plan the scenario. This scenario may have to include at least three outcomes. These outcomes or pathways might be built on the possible future but at the same time they could be potential.
There could be a possible future that a firm put 1million pounds into the innovation and became a leader on the market.
The company cannot set that goal. Probably there is no potential for it. It may be likely caused by absent financial sources. Therefore it is a crucial to set the possible and potential pathway. Because it can
Analysing the scenarios is often used tool in the strategic planning. It helps to explore possible future of company Process of analysing the scenarios includes mainly the setting the potential outcomes how to solve a certain situation or problem (White, 2004).
Setting the potential pathways, manager can see the number of possibilities (Finlay, 2000). This process may help the decision maker to react in the right way to what may happen and be prepared for that (Thompson and Martin, 2010).
That enables the manager to be less shocked in case that change occurs and it may build better position by considering possible future. Then it is easier to deal with soma unexpected change and decrease the uncertainty (Thompson, 2001).
The second part of the question asks for identifying commonness in possible future and potential pathways.
For example, there is a company which produces electronics (cell phone, tablet and MP3 player). It has a problem that its sales decrease and even company is not able to pay a loan. The reason may be for example lack of the investment in the innovations and deficient customer research focusing on its need and behaviour.
A decision making manager after the internal and external analyses decided to plan the scenario. This scenario may have to include at least three outcomes. These outcomes or pathways might be built on the possible future but at the same time they could be potential.
There could be a possible future that a firm put 1million pounds into the innovation and became a leader on the market.
The company cannot set that goal. Probably there is no potential for it. It may be likely caused by absent financial sources. Therefore it is a crucial to set the possible and potential pathway. Because it can