Examples Of Scenario Planning

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Introduction to Scenario Planning Scenario planning was something that I used to associate with organisations – MNCs in particular, a planning tool that was encouraged to use in this uncertain world. A disciplined method for future forecasts that companies have applied to issues such as which portfolio of actions to take and invest in. However, as I learn more about scenario planning, I realised that it can be used regardless of organisations, groups, or individuals. Motivation for Choice One reason why I chose this particular topic was because I am currently job hunting in this VUCA world, and thought that I could use some help in my career search. While my focus is to find a job before graduation, I should also consider other options on…show more content…
Therefore, I searched for a more concise approach that achieved the same objectives – a streamlined set of actions that were able put all the pros and cons into the plan. Stage 1: Orientation Choose a job that is in a sunrise industry, with a reasonable amount of longevity that I will enjoy and wish to be a part of. Stage 2: Exploration Some trends that are prevalent around the world right now are: competition on analytics, emphasis on digital technology and automation. In addition, some uncertainties that the world face are: the unprofitability of current mobile tech bubble (such as Uber), the rapid pace of technological change and the increase in Singapore’s unemployment rate in the next 2 years. Stage 3: Scenarios and Narrative Creation I have chosen 2 main themes that I was more concerned about – income and career longevity. Career longevity is used to describe the stability and risk of the particular function or industry that the job is in. I have adopted the industry life cycle stages to better explain my scenarios. High Income Minimal Longevity Why…show more content…
I should actively apply for jobs that fall under “Apply!”, “Why not?” and “If I want to Slog it Out!” I need to acknowledge that it does not mean that a mature industry will not evolve and grow, and growing industries possess risks too. Therefore, even if I have an offer from the “Apply!” quadrant, I might have to weight secondary factors outside of income and longevity. In addition, since one trend is definitely a shift towards analytics and big data, I should actively practice skills that I have picked up from my Computing as an Analytical Tool (CAT) and Marketing Research (MR) modules. If necessary, I can go for additional classes that teaches skills such as coding. Conclusion In conclusion, I believe that scenario planning has allowed me to have a whole new take on job hunting. However, with scenario planning I must still be very cautious of biases that will affect my plan, such as one sided researches that is done only to affirm initial stand points. Moving forward, I will make use of scenario planning to determine the attractiveness of every job opening that I go across before even considering applying for it, while being fully aware of possible confirmation biases or framing effects I might have in decision

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