Successful Scenario Planning... Leading the Path To Change
Change. The word seems to hang in the air these days. One simply cannot pick up a newspaper, magazine or turn on the news without hearing something about change.
If you believe the political pundits, we have a massive political constituency that is yearning for change, a change in the direction of the Iraq war, our economic, in our efforts stop the threat of global warming and a shift in policies towards immigration, to name just a few.
Whatever your politics, whatever you hold true, it is clear that change is inevitable and that emerging trends, political and environmental factors are creating a meeting of divergent interests and needs that will indeed bring a shift in thinking and action on the part of countries, businesses and individuals. As citizens we each have our own views for how that change should occur and the direction our country will take in the next decade. Some of us will be led to take a more active role in our political process, to volunteer or provide financial support to a worthy cause or initiative. Still others will become key players with expertise and solutions to literally change the way America and the world thinks or operates.
As advisors to business we have a unique opportunity to play a key role in assisting our clients to develop strategies for changing times and in safeguarding them through the successful implementation and organizational restructuring that often occurs in such times of change.
The high level of media attention to the concept of change provides a great opportunity for us, as trusted advisors, to ask a most important question.
"How well is your company prepared to handle change if and when it comes?"
Scenario Planning
Introduce scenario planning as a great way for management to consider emerging trends.
Perhaps now is a good time to conduct a scenario planning activity with several of your client companies? It's a great way to help them to look at future trends or environmental factors objectively and to create response scenarios for taking advantage of or minimizing potential liabilities that may result.
Scenario planning allows management to look at factors that may have a positive or negative impact on their business. It provides an opportunity to consider how the future might develop and how best to respond to changing dynamics in their industry, society and business environment. Management can rehearse their response to possible futures, spot new or emerging trends as they begin to unfold, and create responses to anticipated changes before or as they begin to unfold.
Conducted as a management retreat or as part of a larger strategic planning initiative, scenario planning allows you to begin a dialogue with your clients about how changes in the following business dynamics might impact their company.
- Social Dynamics
What kind of impact will increases or decreases in our immigration populations have on your client's company? What type of policy changes or company resources will be needed as the next generation enters the workforce? How will social values, lifestyles and work/family issues change their workforce or management needs?
- Political Direction
What impact may a new Republican or Democratic presidency have on current operations? What kind of new regulations might be created and what changes will they require? Will your access to industry and governmental leaders change, and how will that impact company objectives?
- Economic or Environmental Factors
What challenges will your clients face if gas, food, transportation, interest rates go even higher? What strategies will need to be put in place to cope with a recession? How well positioned is their company to lead the drive towards solutions or take advantage of emerging opportunities?
- Technological or Industry Trends
What new technological advancements are on the horizon and how will your company gain from or be hurt by their introduction? Are changes on the horizon for your industry? What changes will proposed regulations have on their company's current pricing, practices or ability to effectively compete?
"In every period of major transition, two kinds of leadership surface: those consumed by the threats of transition, and those open to the opportunities that always accompany transition." William Easum
As trusted advisors we can play a central part of helping our clients prepare for and manage change within their organization. Are you ready to lead the way? |
