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Business Environments - Essay Example

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Scenario planning which is also referred to as scenario analysis or thinking is a process through which companies lay strategic plans in order to survive in the competitive business environment. …
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Business Environments
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Download file to see previous pages Hanafizadeh, Kazazi and Azam (2011) assert that in scenario planning, various scenarios are considered in the decisions of company management which involves making long term plans for the organization. Managers consider laying plans which are flexible enough to enable the company to adapt to the changes in the legal, economic, political, social cultural and environmental scenarios within a market. The role of scenario planning is to remove the uncertainties which face the business processes as explained by Mason (2003). In this regard, it is explained that scenario planning enables managers to make flexible long term plans which enable an organization to make use of the business opportunities in the business market while reducing the risks associated with the various uncertainties of conducting business in a competitive environment. This paper gives a critical analysis of the various scenarios which managers of an organization consider in scenario planning with an aim of illustrating how this planning enables organizations to survive the competitive global business environment. According to Mason (2003), scenario planning begins with the decision of company management on the most suitable and most appropriate drivers which enable the organization to make the most effective changes for the survival of the uncertain business environment. ...
As such organizations must decide on necessary changes within the organization which will enable it to meet the demands of the culturally diverse work force. Mason (2003) points out that the human resource are the drivers of change within an organization, as a result, the management must make decisions which will ensure that the strategic plans meet the needs of the organization. Such planning must be within the social and cultural scenario of the business environment. This is to ensure that the social needs of the employees are met by the organization. These needs include a suitable working environment and a communication and relationship enhancing working conditions. Schoemaker (1995) exemplifies that strategic decisions and planning of adoption and implementation of technological techniques which will enhance the communication process of the work environment. This means that the employees or subordinates will be allowed to have an enhanced communication and relationships among themselves and the management. This is a process of a social cultural scenario planning through a planning process which ensures that suitable decisions are made to enable the employee needs to be met in the most suitable manner. Hanafizadeh, Kazazi and Azam (2011) explain that the importance which is made on the employees as the drivers of change is attributed to the fact that the workforce of any organization comprises of the most important stakeholder of business success. This is demonstrated by the fact that it is the employees who enable organizations to achieve innovation, creativity and increased production and thus competitiveness in the business environment. Tenaglia and Noonan (1992) assert that in scenario planning, companies must bring the drivers of change ...Download file to see next pagesRead More
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