Introduction

Periodically the key stakeholders of the organization are engaged in pivotal strategic decision making regarding the present and future trajectory of the business. Often it happens the process of decision making gets disrupted when the stakeholders reach an impasse. They fail to come to an agreement which may cause a delay in the normal course of action for the organization. In such cases, use of Transformative Scenario Planning can be advantageous.

What is a scenario planning approach?

TSP provides a platform where the shareholders, promoters, managers, officers and other decision makers work together in order to develop a shared understanding of the ongoing situation, potential solutions and what prospective future course of actions can be adhered to. TSP is focused on development of structured narrative or ‘scenarios’ regarding future proceedings. It tries to construct stories of” what situations can occur in future?’ This will provide a shared framework for the stakeholders to discuss the issue. Thus, in situations where the decision making gets stuck, the stakeholders can refer to the TSP framework to agree upon the actions they must take to move forward.

What are the basic premises for constructing a narrative? What are different methods of deducing? What could happen? How to do scenario based strategic planning? What are different tools available for application in developing TSP? These questions need to be answered when strategic managers are presented with the task of developing scenarios for smooth functioning of future operations of the organization. Use of TSP in strategic planning in organizations has inherently increased as managers are faced with the challenges of incorporating volatility, ambiguity and complexity into strategies. TSP provides room for the strategies to be more flexible and adjustable to the changing business environment.

Xcelerate Training Institute Solutions has introduced an uncommon Transformative Scenario Planning course keeping in mind the struggles combated by decision making units while trying to incorporate a variety of key factors into strategies as well as drawing agreement from different key stakeholders.

What are scenario planning tools?

This Xcelerate Training Institute course highlights critical tools available for TSP as well as discusses evaluation and selection of the tools. It involves training participants to develop organizational consciousness by inculcating use of techniques such as brainstorming scenarios, 360 feedback, etc.

The course is a must for organizations that want to enroot flexibility in their strategies which will allow them to easily adapt to uncertainty in the environment. The best industry practices have been discussed along with emerging trends which helps the participants understand practical application of the course.

Learning Objectives

The course is structured to achieve following objectives:

• Enable the organization retain considerable degree of control over uncertain circumstances surrounding the business
• Identify relevant assumptions for the future
• Pre-determine best ways to respond to different identified assumptions
• Prepare the participants to develop reliable framework for future occurrences which will enhance decision making
• Help the organization paint a clearer picture of main factors of business growth
• Encourage proactive approach by being prepared ahead and Hence Hain competitive advantage by acting quickly

Training Methodology

• Interactive sessions and lectures
• Presentations
• Management games
• Role playing/modelling
• Case studies
• Group discussions
• Problem solving sessions

Benefits For Your Organization

• Able to incorporate market dynamics into strategies and hence develop flexible strategies
• Identify possible ways the business’s future can realistically emerge
• Actualize strategic actions that would be fruitful in each constructed future scenario
• Develop best case predictions regarding future operations
• Provide a stable framework for the organization to go by in the long run when it comes to dealing with difficult scenarios
• Enhance organizational awareness by early spotting of threats and opportunities
• Develop a system to mitigate risk timely

Benefits For You

• Will gain knowledge regarding best ways to identify critical triggers, key drivers of business growth and many more relevant cases
• Enable better management of uncertain business conditions and have a better grip on the operations
• Develop insight into various paths a business can move onto and hence deliver the same with confidence to the key stakeholders
• Gain a better understand of trends diving the competitive environment in the industry
• Get familiar with latest and best business practices adopted globally for TSP
• Broaden the skill set such as enhancing decision making skills, communication skills, etc.

Target Audience

• Chief executive officers, Chief Operating officers
• Departmental heads
• General managers
• Strategic managers
• Business Analysts
• Business policy makers
• Entrepreneurs
• Start-up founders

Course Outline

Introduction to Transformative Scenario Planning

• Need of TSP in uncertain business environment
• Evolution of strategic planning
• Determining uncertainty of environment
• How and when to use TSP

Categories of TSP

• Quantitative scenario planning
• Operational scenario planning
• Normative scenario
• Strategic management scenario

Transformative Scenario Development Process:

• Identify driving factors and assumptions
• Determine key uncertainties
• Construct plausible scenarios
• Discuss paths to each scenario

Tools for TSP

• Framing checklist
• 360-degree stakeholder feedback
• Scenario matrix
• Impact- uncertainty grid

Challenges to TSP

• Cognitive biases affecting managerial behavior
• Avoid considering multiple possibilities
• Inertia

Brainstorming Future Scenarios

• Deciding time frame
• Knowledge management
• Competitor analysis
• Technological advancements
• Investigate trends
• Evaluating scenarios

Implementing Scenarios

• Implementing scenarios by integrating TSP in existing strategic framework
• Updating strategies
• Analyze implication of scenario on functions

Best Practices of TSP

• Involving managers and participant from all functional departments of the organization
• Gathering Data
• Working with basic scenarios
• Break even analysis