Latest in a few weeks, many SMEs need to think about the mid-term and long-term business perspectives. While nobody really knows how the "new normal" with/after COVID-19 might look like, companies can make use of a relatively old-fashioned 'management' technique called "Scenario Analysis".
In fact, while many people are try to make it complicated and more and more technology-driven, a "Scenario Analysis" requires primarily five things to be useful:
Please have a look at our SCENARIO DEVELOPMENT & ANALYSIS Manual - PART I.
More to follow.
In fact, while many people are try to make it complicated and more and more technology-driven, a "Scenario Analysis" requires primarily five things to be useful:
- TIME to think about which parts of your future business environment you really need to understand in detail in order to make your business model future-ready.
- ABILITY to develop well-structured HYPOTHESES about the future in order to make the right decisions about necessary changes/adaptations.
- ACCESS to a diverse group of people (let's call them experts) that can help you to assess your hypotheses from different perspectives in order not to miss anything in today's interdependent world.
- An efficient WAY to collect the OPINIONS of these experts; i.e. an Expert Panel / Delphi Study software.
- ABILITY to develop SCENARIOS and analyze them to make decisions on a functional level of your organization.
Please have a look at our SCENARIO DEVELOPMENT & ANALYSIS Manual - PART I.
More to follow.