InTex manufactures medical devices. The firm's profitability depends on several variables that are subject to occasional change, including the cost of parts and labor, changes in medical practices, and the price of oil used in both manufacturing and shipping. To account for the potential impact of changes to any of these variables, InTex managers should implement a(n) ________ approach.

Question

Quizplus · Accepted Answer

In scenario planning, top management envisions different scenarios, to anticipate plausible futures in order to derive strategic responses. By implementing a scenario planning approach, InTex's managers can prepare strategic responses to any changes in the external environment.

InTex Manufactures Medical Devices