What is scenario planning?

This is a podcast episode titled, What is scenario planning?. The summary for this episode is: <p>This episode of <em>Techsplainers</em> explores scenario planning, a strategic approach where organizations create multiple potential future scenarios to prepare for uncertainties. Building on previous episodes about enterprise performance management, extended planning and analysis, and AI in financial planning, we examine how scenario planning helps businesses proactively manage risk through a five-step process: defining objectives, analyzing outcomes, recognizing influential factors, evaluating scenarios, and developing indicators. The episode highlights Shell's pioneering use of scenario planning, explains different methodologies (quantitative, normative, exploratory, operational, and strategic), and showcases applications across finance, supply chain, sustainability, and sales. We conclude with best practices including team building, data management, simplification, and leveraging advanced technology to gain competitive advantage in an uncertain business environment.&nbsp;</p><p><br></p><p>Find more information at <a href="https://www.ibm.com/think/topics/scenario-planning" rel="noopener noreferrer" target="_blank">https://www.ibm.com/think/topics/scenario-planning</a></p><p>Find more episodes at <a href="https://www.ibm.biz/techsplainers-podcast" rel="noopener noreferrer" target="_blank">https://www.ibm.biz/techsplainers-podcast</a></p><p><br></p><p><strong>Narrated by Teaganne Finn</strong></p>