Strategy, Business Information & Analysis

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STRATEGY, BUSINESS INFORMATION AND ANALYSIS 1) Select an organisation with which you are familiar. Develop three future scenarios, and strategic responses, for the organisation. The first of these scenarios should predict ‘no major future changes’ in the external environment. Scenario 2 should be based on a prediction of ‘negative future changes’ in the external environment. Scenario 3 should be based on a prediction of ‘positive future changes’ in the external environment (60 marks). 2) Critically evaluate the contribution that scenario planning can make to effective strategic management. Draw on relevant theories and examples to support your arguments (40 marks). OUTLINE 1.0 Introduction 2.0 Background of organization 3.0 Scenario simulation 4.1 Scenario 1 : No major future changes in the external environment 4.2 Scenario 2: Prediction of negative future changes in the external environment 4.3 Scenario 3: Prediction of positive future changes in the external environment 4.0 contribution of Scenario planning to effective strategic management 5.0 Conclusion 1.0 Introduction Organizations today are faced with increasingly volatile situations and therefore to stay on top involves getting a lot of decisions rights from the go. One of the ways in which an organization can steer its own fate successfully in an uncertain world is through scenario planning, Hussey (1998: 134). There are ambiguities characterized by the associated dilemmas of the future business outcomes which also present unique challenges and difficulties that must be examined by the organization (Chermack, 2011: 4). Managers of firms need to be adequately prepared for dealing with the inevitable changes in the firm’s external environment whiles adapting to the changing business activities in the organization to consolidate it competitive

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