Are you looking for a way to prepare your business for the future? Scenario planning might be the answer. By exploring multiple potential future scenarios and preparing for them in advance, businesses can mitigate risk and stay ahead of the curve. In this article, we'll explain what scenario planning is, how it works, and how to use it effectively to ensure your organization is ready for whatever the future holds.

The reality is that every single decision in your organization is a choice under a degree of uncertainty; In practice what we end up doing is basing our choices on possible outcomes and best case predictions about where the future is going to go.

We all agree that decision-making should be based more on data and analysis than intuition and gut feelings.

But there are two problems here: First, data may be difficult to gather. Second, data tells you about the past but gives you absolutely no indication of the future.

So how do you get data that will help you predict what is going to happen?

Your organization possesses all the necessary historical data to initiate the creation of potential scenarios. However, you may not have sufficient time to map out and oversee a meeting of this magnitude. This meeting includes stakeholder engagement to obtain complete buy-in from all involved parties, as well as implementing the systematic approaches and behavioral habits your organization needs to prioritize the projects and tasks necessary to guarantee the success of your scenario planning session.

Hiring a strategy consultant can help you manage this comprehensive session and provide support for its execution, without the need to recruit a strategy officer or conduct the meeting inefficiently on your own. This will enable you to make better choices in the short and long term.