Future Scenarios: How Should Your Organization React?

Posted by Michael Lindberg on Aug 26, 2018 12:16:25 PM

future scenarios

Creating Future Scenarios 

In the past, you could project the present onto the future, for it would take a long time before reality caught up to you. This is no longer viable in today’s dynamic world. You need to create future scenarios. Sure, it’s impossible to predict the future, but that’s no reason for not thinking about it. And fortunately, creating future scenarios is not as difficult as you might think.

 

Future scenarios begin by asking a core question. Next, you need to consider the six PESTEL factors:

 

 

Once these driving forces have been carefully researched and discussed, you should identify the two driving forces that are a) most crucial for your core question and b) hardest to predict.

 

By considering the extremes of both driving factors you end up with four scenarios that are all probable, but not necessarily likely. Now, it’s time to discuss the impact of each scenario on the core question. How should you react?

 

DOWNLOAD

 

For further insight into innovative business models and how they can be used to achieve growth for your organization why not download our free new whitepaper? Entitled 'Reaching higher than the Alps', the whitepaper takes an in-depth look at how to create growth through a structured process of challenging and innovating your business model, and it's packed with good advice and practical tools based on some of the smartest people in the world within the field of strategy and business development. Please click above to download your copy.

 

Topics: Business Model Innovation