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Scenario Planning, Risk Management and Crisis Management

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The prevalence of social networking site is a social trend online, allowing the people to take part in the activities involved in here. The scenario might quite change in the future, and the management must be able to consider it and prepare for the appropriate plans to initiate in order to continue to fit in the prevailing trends in the future. These are just some of the illustrations showing the remarkable potential of scenario planning and how it exactly should work for an organisation. Scenario planning, therefore, is about taking into account the different futures from the identification of factors including demographics, and trends linked to political, economic, social, technical, legal and environmental as the basic driving forces, allowing the decision maker to increase knowledge of the environment and future events (Northumbria University, 2014). In addition to the above point, it is also important to understand that the business environment does not follow a kind of progress that is like a straight line moving forward.

The performance in the business environment can be erratic in reality, by which sometimes it is hard to predict the actual prevailing business pattern.

For this reason, it is important to consider that exploring the business environment rather than forecasting it seems to be more reasonable especially if it is particularly linked to the actual business plans. However, the most important point is to set the relevant plans that will eventually work for whatever the future unfolds. This is eventually a form of strategic consideration in an organisation, primarily in the business context. That is why strategic planning has become one of the most important concerns in every organisation that would want to make a difference for good.

Strategic planning is what every organisation requires in order to survive in tough times, especially in the event of highly advanced competition by which there is an urgency to achieve a specific competitive edge. For this reason, it is important to understand that the ultimate goal of an organisation is to make flexible and long-term plans.

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