article thumbnail

Scenario Planning vs. Forecasting: 6 Questions to Ask to Prepare for a Post-Pandemic Future

Leading Blog

There is often confusion between scenario planning and forecasting, with the terms used interchangeably and inconsistently. Scenario planning is focused on the future and involves defining different stories behind different paths that will lead to that future. Are one or multiple futures more likely?

article thumbnail

Exploring Alternate Futures Can Help Identify Future Leaders

N2Growth Blog

In their annual survey on the management and planning tools used by thousands of companies around the world, Bain and Company show a consistent and deserved popularity of scenario planning. Those who know scenario planning know that its value isn’t in “predicting the future.” Some companies do.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

4 Steps To Become An Aware Leader

The Horizons Tracker

As Don Moore and Max Bazerman explain in Decision Leadership, they’re able to look at data objectively; avoid being misdirected by those who seek to deceive; are aware of things that appear too good to be true; and are generally able to think a few steps ahead.

article thumbnail

Board Performance Optimization: Beyond Compliance Towards Excellence

N2Growth Blog

The concept delves more deeply than mere regulatory compliance, stretching towards a proactive approach that involves risk anticipation, scenario planning, and sound decision-making processes. It thoroughly emphasizes corporate social responsibility, adhering to ethical guidelines, and achieving strategic objectives.

article thumbnail

Farsighted: How We Make the Decisions That Matter the Most

Leading Blog

Finally, we decide on a path by weighing the variable outcomes against our overarching objectives. Of Related Interest: Where is the Wisdom We Have Lost in Knowledge? * * * Like us on Instagram and Facebook for additional leadership and personal development ideas. * * *. Johnson prescribes simulations to do just that.

article thumbnail

How Organizations Can Thrive in the Digital Economy - SPONSOR CONTENT FROM KORN FERRY

Harvard Business Review

This revealed five essential leadership and organizational capabilities: discipline and focus, agility, connectivity, openness and transparency, and empowerment and alignment. Agile businesses run planning and execution in parallel, investing in scenario planning so they can act promptly when opportunities arise.

article thumbnail

The Big Picture of Business: Putting Budgeting Into Perspective, The Bigger Picture of Strategic Planning

Strategy Driven

Have you done scenario planning of measures beyond your immediate control, i.e. external factors which profoundly impact your livelihood? 7 Stages in Making a Case for Business Funding: Link to a strategic business objective. Applications of your work toward other departments’ objectives. Information learned.