WildCat Energy Drink – Scenario Planning
All our licensees engage with scenario planning. It is used as a tool to think about the future in a structured manner.
Scenario planning is useful when making big decisions. For example, ones that involve large investments. It involves evaluating and planning for different scenarios that could emerge.
A widely used method to implement scenario planning is as follows:
Step 1: First identify your driving forces. Discuss how politics, economics, the environment and technology in the future will affect your company.
Step 2: Secondly, identify your critical uncertainties. Pick two of your driving forces as uncertainties. An example of this for WildCat may be the availability of Aluminium.
Step 3: Thirdly, develop a range of possible scenarios of how could these uncertainties affect your business
Step 4: Finally, discuss the implications of these scenarios. Are there any strategies or tactics which could minimise the damage to profitability?
Furthermore, discuss strategies to capitalise on a scenario in order to gain market power.
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