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How Scenario Planning Influences Strategic Decisions

May 27, 2016 | Shardul Phadnis, Chris Caplice, Yossi Sheffi | Strategy

Anecdotal evidence suggests that considering various scenarios helps strengthen decision making. To test this idea, researchers offered a scenario-based workshop to executives to see how considering scenarios affected decisions. They found that though participants' confidence in their choices never wavered, the strategic choices they made before the exercise often changed dramatically after viewing the scenarios, with a tendency to become more flexible and focused on long-term value.

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