The role of scenarios in strategic foresight” Article Summary In the context of the global financial crisis and the turbulence that this has brought to the world economy and therefore to organisations, the article “The role of scenarios in strategic foresight” by Gill Ringland published in the journal Technological Forecasting & Social change volume 77 (9) aims to persuade the reader on the need for strategic foresight over the next decade and what role scenarios can play within strategy foresight
Words: 3159 - Pages: 13
gyStrategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic
Words: 642 - Pages: 3
1. Willingness to pay: The willingness to pay (WTP) is the maximum amount a person would be willing to pay, sacrifice or exchange in order to receive a good or to avoid something undesired. Willingness to pay is the fundamental building blocks of demand functions and hence our ability to estimate demand elasticity and consumer surplus and willingness-to-pay measures can be used to study the screening and causal effects of prices. The firm must know or be able to infer consumers’ willingness to pay
Words: 645 - Pages: 3
1. Specify the scope of the planning and its time frame. 2. For the present situation, develop a clear understanding that will serve as the common departure point for each of the scenarios. 3. Identify predetermined elements that are virtually certain to occur and that will be driving forces. 4. Identify the critical uncertainties in the environmental variables. If the scope of the analysis is wide, these may be in the macro-environment, for example, political, economic, social, and technological
Words: 349 - Pages: 2
allocating financial resources in an environment of uncertainty. Forecast cash flows under different scenarios - 20% Excellent Good Correctly Allow Calculate the value of the warranty miscalculating Make the component choice one or two of the Calculate the annual depreciation requirements based on the depreciable part of the investment Forecast the net annual cash flows under the given scenarios Calculating the effect of inflation Satisfactory Missing one of the requirements Unsatisfactory
Words: 442 - Pages: 2
South Pacific, they would think of paradise; white beaches, gentle surfs, swaying palm trees, and tropical breeze (Business Scenario, 2011). i. Location – 1. Lava Island is locate in South Pacific, Hawaii ii. Ethnic mix – 1. Indigenous South Pacific tribes, Asian (Chinese primarily), African, French, Spanish, and since World War II a sizeable number of Americans (Business Scenario, 2011). iii. Religions – 1. Indigenous 50%, remainder closely divided between Christian, Buddhist, and Islamic
Words: 773 - Pages: 4
Normality of the future: Trend diagnosis for strategic foresight (Liebl 2010) Table of contents 1. Summary of the article 3 2. Analysis of the strength and weakness of the argument 5 2.1 Strengths 5 2.2 Weakness 6 3. Implications for the top management 7 4. Conclusion 8 Appendix A 10 Appendix B 11 1. Summary of the article “In strategy it is important to see distant things as if they were close
Words: 1427 - Pages: 6
Constructing Vision with Scenario Planning Terry R. Schumacher Rose-Hulman Institute of Technology, Engineering Management Dept., Terre Haute, IN 47803 USA Abstract Strategic vision is often included as an important component of leadership. Yet there is relatively little guidance offered in the management literature on how to acquire vision. This paper describes practices that facilitate scenario planning so that it becomes a process for creating shared vision. Most of the work on scenarios addresses the
Words: 9260 - Pages: 38
Identification of Pricing and Distribution Issues For the Company, Country, and Product or Service You Chose For Your Course Project Pricing is one of the most important part of any particular business irrespective of the sector they operates in. It is one of the most vital component that impacts the operations of a particular company one way or the other. It determines the perceptions of the customers regarding a particular set of products or services. It also enhance the value of the products
Words: 594 - Pages: 3
the disasters they have gone through, and help to overcome the challenges that they are now facing. Macy’s will do this by addressing the issues found in the business scenario, forces involved in the formulation of the problem, and organizational and environmental obstacles impacting key stakeholders. After looking at the business scenario and seeing what the director of strategic planning had to say, it was easy to see what issues are present. Challenges now facing the island of Kava are 1) over
Words: 998 - Pages: 4
