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Discuss the application of scenario planning to the topic in the article with the objective of addressing the complex and uncertain challenges mentioned.

Category: Arts & Education Paper Type: Online Exam | Quiz | Test Reference: MLA Words: 650

            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>.

 

 

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