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Build scenario thinking / sensing into strategic decision-making

Workforce & strategy: A priority for CEOs as they work with CHROs and CSOs to prepare and manage business continuity during crisis

Using Scenario Based Forecasting

Preparedness in an uncertain environment

COVID-19, oil price shocks and travel bans are all creating uncertainty regarding the current business environment. And as the impact of COVID-19 becomes more permanent, it is important that businesses are proactive in assessing their capability to withstand disruption and the options they have to identify, and respond to, potential opportunities. This article discusses the role scenario-based forecasting can play in navigating company finances through this level of uncertainty and disruption.

Topics covered in this article:
  • Creating a core team that develops and manages scenario definitions and reforecasting
  • Defining plausible alternate futures in which the impact of decisions will be assessed
  • Customising scenarios to particular contexts and challenges, including less obvious possibilities

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