There are various uncertain and unforeseeable
risks and challenges have been mentioned in the article, which are being faced
by the modern organizations. If organizations want to deal with these risks and
challenges developed by information chaos, which is hindering their ability
find considerable information opportunities in the future, then organizations
should consider the essence of scenario planning. For instance, if organization
is not sure that how to streamline its information and processes, and where to
start the process of damage repair, then they should use scenario planning as a
tool to critically analyze the scenario, identify that where the problem
actually exists and then derive future strategy to deal with the issue. The scenario
planning provided a structured method for an organization to think that
challenges and opportunities it will have in the future. They can develop different
possible scenarios and imagine what would be the outcome of each scenario. By
doing so, they can imagine that how may possible scenarios they may face in the
future and what each scenario will make an impact on their business. After
looking at the challenges and opportunities of every possible scenario, the
companies can make viable decisions, which would not only proactively prepare
them for the future, but also streamline their current scenario as well (The Economist).
The
organizations can make an estimate by imagining the fact that if consumer
trends will keep changing like that, then what possible future would be with
regards to their customers. For instance, if a business is not using online
space to engage with customers and selling the products through online
channels, then they must look at the consumer trends to see their interest
level in online buying. If they see that consumers’ online buying trend is
increasing in their industry, then they can spectate various future scenarios,
and deicide that what scenario is most likely to happen, so when scenario would
be taken seriously, they would be able to make considerable decisions to dig
out opportunities and develop a strategy for any possible problems as well ( Mancini)
The
article has mentioned various challenges along with 34 possible solutions to
deal with the issue of information chaos. So, when these solutions are derived,
it is evident that innovation is an important element to be included in these
solutions so that companies can gain more benefits from the essence of
creativity and innovation. It has been observed that in digital information disruption,
the role of innovation could be critical to deal with this disruption in so
many different ways. For instance, if an organization is using old school
methods to construct their strategy and information is kept through manual
means, then it is impossible for a modern organization to get ay benefits from
that information, as it cannot be used effectively. If they want to use this
information effectively to look for future opportunities, then they should
bring innovation in their planning as well as information handling methods. The
innovative new technologies are coming to handle data and use it with some statistics,
which are provided by the software. For instance, if an organization use an innovative
and advanced software to manage customers data and details, and if they later
want to see that which product was mostly purchased by the customers, they can
easily get this information from the innovative software they are using, as it
would show in seconds that which products were mostly purchased by the
customers. It means that physical records of organizations should be managed
innovatively with electronic records methods.
References of scenario planning
Mancini,
John. • Information Chaos vs Information Opportunity: The Information
Challenge for the Next Decade. 2014. 14 May 2019. <https://www.m-files.com/Content/documents/en/res/AIIM_white_paper_-_Information_Chaos_v_information_opportunity.pdf>.
PERROTTA, FRED . How
to Use Social Media for Customer Research. 2012. 14 May 2019.
<https://www.socialmediaexaminer.com/social-media-for-customer-research/>.
The Economist. Scenario
planning. 2008. 14 May 2019.
<https://www.economist.com/news/2008/09/01/scenario-planning>.