Management Strategies within a Financial Crisis - Essay Example

For the scenario planning to become more responsive to an unforeseen event, the assessment and consideration of variables and plausible outcomes at play must be realistic.  As such, strategists should prepare themselves for the more demanding process of information gathering, possibility exploration, and hard thinking. But this should not be at the expense of devaluing the importance of present priorities.  While this is obvious, companies may tend to submerge themselves very deeply in planning for the future that they will overlook the present.

  This is a great challenge that strategists have to consider – balancing future prospects with the priorities of today.  Another challenge that strategists have to consider is monitoring.  As we are now in a very tumultuous environment, the economic landscape changes rapidly.   What was planned before may no longer be responsive today and as such, planners and strategists must be quick to update such plans to enable their companies to be more responsive to any unanticipated events?