The strategic use of scenarios in the boardroom
- Using scenarios in today’s uncertain world is core to strategy planning and thinking.
- Scenario planning is understanding the concept that we live in a dynamic world that is changing all the time.
- Strategic thinking needs dynamic thinkers.
- A strategy can be seen as concrete but the world changes around this so as a board you need to:
- Anticipate change
- Be agile to change
- Adapt to change
- As things change, you need to ask dynamic questions all the time.
- As a board you need to connect strategy thinking with thinking about the future by using scenarios.
- Thinking about the future means:
- Making sense of the world from your company’s perspective
- Asking the right questions to anticipate change
- Entertaining multiple perspectives and frequently reassessing your decisions
- Question your assumptions about the future and distinguish what’s within your control and what isn’t.
- Scenario planning forces your board to ask ‘what if’ which stimulates the thinking you need to form a strategy.
- When you use scenario planning you need to consider the following:
- What will happen to your organisation in a united world?
- What will happen to your organisation in a divided world?
- What will happen to your organisation during global growth?
- What will happen to your organisation during a global recession?
- Using a combination of these scenarios will help you decide what you would do and how you would adapt.
- Be proactive to understand which scenario you’re in, and identify flags that indicate what’s happening in the world to anticipate future outcomes.
- Using scenarios in the boardroom allows the board to be more visionary, ask the right questions and link the strategy to the external environment.
In a dynamic world, we need dynamic thinkers; this is especially true if you are responsible for leading your organisation through uncertain times. Scenarios need to be at the core of your strategy development. In this webinar, you will discover what scenario planning is and why it’s essential at board and executive level.
Join Chantell Ilbury, Co-founder and Head of Strategy at Mindofafox, global specialists in scenarios and strategy. She is an expect in how to use scenarios in your strategic thinking.
This will be an informative and engaging discussion with plenty of practical insights to bring back to your boardroom. We look forward to hearing your questions and seeing you there.
Chantell Ilbury is a scenario strategist with extensive experience in strategic facilitation, training and thought-leadership across diverse sectors. She is also a best-selling business author.
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