Pay more attention to those scenarios that have a higher probability of occurring. Do not forget to include your competition in your scenario. Try to look at the extremes of scenarios. This is a good way to establish limits, boundaries or parameters. Emphasize those scenarios that can be planned for with little or no money.
Anticipation often can reduce a negative impact and take greater advantage of an opportunity.
Be certain to include costs with opportunities as well as threats. Review your scenarios at least monthly. Scenario planning can help you take advantage of opportunities while lessening the impact of threats. By putting your business strategy ahead of your competitors you can gain competitive advantage. For comments, questions, or to subscribe to our email service, please send us your email address here .