Planning is a method for business to apply for a company, it represents …show more content…
This model helps the company understand the impact of uncertainties that can affect the future. Scenario planning can help Flight Centres competition with other similar companies. Schermerhorn et al. (2014) declare ‘[scenario planning] keeps the future visible as a performance target and reminds us that the best decisions are often made before events force them upon us’, if scenario is implemented consequently the company can consider greater options for better for the …show more content…
A. (2008) provided that ‘Scenario planning may also include risk analysis of various threads probable or improbable. The enterprise may have to devise contingency plans for certain risks that may be high or where the negative impact is too big to bear no matter how small the risks are’. Managers will benefit by sorting and elevate departments of the company using scenario planning to find risks that can cause harmful effects on the company. Nevertheless, implementing scenario planning method can discover the businesses risks.
In addition, if scenario planning is applied there are many factors that a manager has to consider that affect the company internally and externally. Dewhurst, S. M., & Kessler, W. B. (1999) state ‘scenarios are a way of understanding the dynamics shaping the future, the next step is to identify the primary driving forces at work in the present. These may include ecological, economic, political, social, or technological issues’. Furthermore, managers need to consider these external factors to understand that predicting the future using this method has to involve objectives revolving around the business as