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Global Business Network - Essay Example

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GBN or the Global Business Network (a subsidiary of the Monitor Group) is a consulting firm that concentrates in the area of scenario planning. GBN focuses in providing assistance to organizations especially in coping up with future uncertainties in the business industry or in the entire worldwide economy…
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Global Business Network (GBN Case Analysis GBN or the Global Business Network (a subsidiary of the Monitor Group) is a consulting firm that concentrates in the area of scenario planning. GBN focuses in providing assistance to organizations especially in coping up with future uncertainties in the business industry or in the entire worldwide economy (About GBN, n.d.). Most clients of the GBN are leading companies, governments, and nonprofit organizations that seek the services of the firm to help them deal with “critical long-term challenges” (“About GBN,” n.d.). GBN is deemed a pioneer in implementing scenario planning. With this reputation, the firm has developed its own fundamental principles, which allow GBN to structure and differentiate what the company does, and the approaches it applies to implementing successfully scenario planning (“Our Approach,” n.d.). The first principle is outside-in thinking where GBN advises their clients to conceive ideas from outside in that means investigating on the outside or beyond the industry first prior to exploring the essential dynamics inside the industry and the company. Next in line is diversity of perspective that appertains to the firm’s conception of multiple futures or the multiple future scenarios, thus, allowing their clients to anticipate uncertainties. Fourth is collaboration, which describes the close partnership of GBN to the management of its clients. Fifth is learning through Co-Creation where the firm does “not begin with answers”; instead, they work to uncover solutions with clients (“Our Approach,” n.d.). Finally, the last fundamental principle is world class experience and facilitation that points out to the competent GBN practitioners whose role is to administer the collaborative learning processes, which brings off “insights, alignment, and action” (“Our Approach,” n.d.). Thus, GBN supports the application of scenario planning through means of applying its six fundamental principles that the firm consider as the benchmark of an effective scenario planning strategy. The implementation of scenario planning strategies has to go hand in hand with a systematic scenario thinking process (“Why Scenarios,” n.d.). The process will begin with the orient phase. The orient phase involves the description of the issue that needs to be addressed. The issue that is identified is utilized as an orienting mechanism from beginning to end of the other phases, in the scenario thinking process. Next is the explore phase. This phase involves the examination of the driving forces which may help in forming the main issue or the question that has to be answered. The term driving forces refer to changes in the external environment of an organization, which may influence the formation of future dynamics through an unforeseeable or foreseeable manner. These forces may be considered as predetermined elements or the forces that are easily recognized and remain unchanged, or the uncertainties, crucial forces that are usually unpredictable in nature (“Why Scenarios,” n.d.). Third is the synthesize phase wherein the recognized driving forces are combined for the establishment of a scenario framework (“Why Scenarios,” n.d.). The construction of a scenario framework is an experimental process, which has to involve the careful assessment of uncertainties. The fourth phase is act where the scenarios are being managed to stimulate action. An effective scenario does not have to be the one that is able to imitate the future; otherwise, it has to be that scenario where the organization is able to acquire information for it to adjust and perform productive measures. The last phase is the monitoring phase that is associated with the monitoring of the environmental shifts and modification of strategies. Firm usually has to create monitoring systems to keep track of the leading indicators that signal the occurrence of scenarios (“Why Scenarios,” n.d.). GBN also offers other forms of services to support its clients in the planning and implementation of an effective scenario planning framework (“Ideas,” n.d.). For instance, in terms of scenarios and strategies, GBN makes use of case studies to present real life examples of scenarios that a firm may ponder upon. Reports that come from their previous projects are also being used to gain ideas and insights regarding uncertainties. Clients may also avail of the GBN Perspectives, which are “quarterly interview series” of the views and opinions of the members of the GBN network. In addition, GBN also has its podcasts that may be subscribed through iTunes that contains topics related to business. The company has been running for over 20 years, and with its core principles and smart approaches, it will continue to help other firms become successful. Therefore, GBN’s edge is simply the way it helps other organizations succeed through effective approaches in scenario planning. References About GBN. (n.d.). Retrieved from http://www.gbn.com/about/ Ideas. (n.d.). Retrieved from http://www.gbn.com/ideas/ Our Approach. (n.d.). Retrieved from http://www.gbn.com/about/do.php Why Scenarios. (n.d). Retrieved from http://www.gbn.com/about/scenario_planning.php Read More
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