Scenario Planning and Contingency Planning
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Scenario planning is a technique used to learn about the future by understanding the nature and impact of the most uncertain and important driving forces affecting our future, so you can be prepared to succeed in a changing world. Read more.
By Bill Patterson
Ask most corporate executives about their plans for crisis management and chances are that many of them will say something like, "Sure, we've got a crisis plan. Harry, over in public relations, takes care of that."
But, just what does Harry really have? Unfortunately, in many cases, it is just an emergency checklist with some phone numbers.
What will Harry do when 50 pickets show up outside your company headquarters?
What is Harry suppose to do when your top-selling product is recalled?
What does Harry tell the news media when you have to close that old plant and lay off 900 people?
If Harry does not know what to do immediately (and who will do it), then your crisis plan is in need of an overhaul.
(Added: 29-Mar-2005 Hits: 472)
By Joel Childs
The scenarios have become all too common:
Your company's central data center in Chicago is being evacuated for at least three days due to a nearby hazardous chemical spill, and now you need to expedite backup tapes and computer equipment to a contingency site in Milwaukee ASAP.
A flood has damaged paper copies of your vital customer files in Atlanta, and you need to ship them quickly and at a constant temperature so your service provider in Fort Worth can salvage the information through a freeze-drying process.
You need to ensure that your shipment arrives at your customer's production facility by 6 a.m. the next day or face stiff penalties for each minute the product is late.
(Added: 29-Mar-2005 Hits: 617)
By Kris Frieswick
Scenario planning is an especially important tool for CFOs, who can use it as an early-warning system to reduce resources in anticipation of tough times or to staff up to take advantage of pending opportunities. "It allows you to understand potential risks, such as discontinuities that could dramatically affect earnings," says Rick Eno, vice president in the global management consulting practice at Arthur D. Little in Cambridge, Massachusetts. The key, he says, is to identify "signposts" for each scenario: events or metrics that signal when a scenario is unfolding, such as a drop in the rate of adoption of a new technology or numerous debt defaults within a specific industry.
(Added: 1-Jun-2005 Hits: 755)
By Leonard Fuld
Leonard Fuld has written an article in Pharmaceutical Executive about scenarios and how to prepare for dramatic changes in industries.
(Added: 22-Mar-2005 Hits: 678)
By CHRISTOPHER M. WRIGHT
Some real estate brokers are turning to a strategic planning process called scenario planning. Its aim: to ensure your business decisions hold up well in a changing environment
(Added: 1-Jun-2005 Hits: 551)
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