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Base on the picture, why is scenario planning important in the business or workplace?

Base on the picture, why is scenario planning important in the business or workplace?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Base on the picture, why is scenario planning important in the business or workplace?

Growing Your Business By creating various scenarios, you can build a clearer picture for the future health of your business - this will help you to discover opportunities for growth. Scenario planning for positive changes is just as important as planning for a disaster. What if scenario planning is the most reliable indication of what can be achieved to give you the confidence to make informed business decisions and can be the key to future success.
Transcribed Image Text:Growing Your Business By creating various scenarios, you can build a clearer picture for the future health of your business - this will help you to discover opportunities for growth. Scenario planning for positive changes is just as important as planning for a disaster. What if scenario planning is the most reliable indication of what can be achieved to give you the confidence to make informed business decisions and can be the key to future success.
Grow your business By forecasting different scenarios you will build a clearer picture of the future of your business. In doing this you will be able to better identify opportunities for growth and expansion. Whether it's the knowledge that enough working capital to expand into different geographical territories or invest in new offices, scenario planning can help you to sustainably grow your business with less risk. you have Additionally, new business could mean an increase in staff costs, overheads, or freelancer fees. Scenario planning for positive changes to your business is just as vital as taking a pessimistic view.
Transcribed Image Text:Grow your business By forecasting different scenarios you will build a clearer picture of the future of your business. In doing this you will be able to better identify opportunities for growth and expansion. Whether it's the knowledge that enough working capital to expand into different geographical territories or invest in new offices, scenario planning can help you to sustainably grow your business with less risk. you have Additionally, new business could mean an increase in staff costs, overheads, or freelancer fees. Scenario planning for positive changes to your business is just as vital as taking a pessimistic view.
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