Asked by Jonathan Philley on Jul 11, 2024
Verified
___ involves identifying several possible future situations or states of affairs and then making plans to deal with each situation should it occur.
A) Scenario planning
B) External benchmarking
C) Forecasting
D) Staff planning
E) Internal benchmarking
Scenario Planning
A strategic planning method that organizations use to make flexible long-term plans, based on envisioning various future scenarios.
- Comprehend the principle and advantages of scenario planning.
Verified Answer
KN
Katherine Nistal SayagoJul 13, 2024
Final Answer :
A
Explanation :
This type of planning is known as scenario planning, where multiple scenarios are considered and plans are made to address each one. External benchmarking involves comparing an organization's performance to competitors or industry standards, forecasting involves predicting future trends or events, staff planning involves determining the necessary workforce for a given project, and internal benchmarking involves comparing performance within an organization.
Learning Objectives
- Comprehend the principle and advantages of scenario planning.
Related questions
Scenario Planning Facilitates Control by Defining the Objectives And ...
Royal Dutch/Shell Uses Scenario Planning to Explore What the Company ...
Managerial Thinking Works Best in Times of Certainty
Which of the Following Questions Would Most Likely Be Answered ...
What Is a Scenario Analysis? What Are the Basic Steps ...