Scenario Planning

Definition: Scenario Planning is a strategic approach used to explore and understand the potential future of an organization. It works by describing a small number of scenarios, by creating stories how the future may unfold, and how this may affect an issue that confronts the corporation.
It is a strategic planning method that allows organizations to make flexible long-term plans.
Also called Scenario Thinking (emphasizing it is a form of thinking) and Scenario Learning (emphasizing it is a form of learning).

More on scenario planning. More on business strategy: 3C's Model of Ohmae, Ansoff Matrix, Business Continuity Planning, Business Model, Business Model Canvas, more...