In a typical scenario planning exercise,:
A) managers entirely depend on employee feedback.
B) managers try to come up with alternative plans after a business model has failed.
C) managers formulate plans that are based on "what-if" scenarios that are about the future.
D) managers do a "postmortem" to understand what went wrong with a strategy.
E) corporate-level managers set targets for functional-level managers.

Question

Quizplus · Accepted Answer

Scenario planning involves creating alternative plans based on possible future scenarios, and is used as a proactive tool for risk management and strategic decision-making. It is not solely based on employee feedback or used only after a failure has occurred, and it also does not involve setting targets for functional-level managers. Postmortems are retrospective analyses of what went wrong with a strategy, which is different from the forward-looking nature of scenario planning.

In a Typical Scenario Planning Exercise