Planning and Forecasting

A primary focus for planning in every area is to enable goals and vision set to be accomplished in a much better and easier ways. For us to compare and contrast the two systems thus (Scenario planning and Traditional Forecasting), It is very important we understand what each system means.
Scenario Planning:
     Scenario Planning is considered important tool which enable organizations and business to prepare for and un for seen events. This planning process helps organization to be more flexible in their planning and innovation for the future (Singh, 1998)  . Adapting scenario planning help organization to plan ahead to resolve future problem. Herman Kahn is considered one of the founders of futures studies and father of scenario planning, defines scenario in his book as “a set of hypothetical events set in the future constructed to clarify a possible chain of causal events as well as their decision points”


Traditional Forecasting:
      Traditional Forecasting is another system used by organization and business to plan the growth and advancement base on past data. These type of planning relays on past events and a technique is employed analysis the future.  
To compare and contrast this two planning systems means trying to get to know the strength and weakness of each system .  
Traditional forecasting  tend to fail most of the time because planning is base on old data that may have gone through lot of change . This can affect the growth and innovation for the future . This system of planning is limited due to lack of data  and also using old and out of mood information.
Scenario Planning has is back side which can affect the planning of an organization . This system make use of the data available which may or may not be correct and current. However this planning method requires more data and deeper insight to enhance good planning which will meet the demand of the end user (Customers) Who could have predicted the fast rise of something like YouTube (Johnson, 2011)?
Conclusion
 Taking the journey into the world future planning it is made clear both methods have both the good and the bad sides . It is very important that a detail investigation is carried out on which ever method an organization decides to employ . The ability to forecast and plan correctly will help with future innovation and invention that will help resolve issues in a from a small starting point .

Reference

Johnson, S. (2011). Where good ideas come from: The seven patterns of innovation. London: Penguin.
Personal Expert System: World Association of Newspapers Scenario Planning. (2013, January 1. http://personalexpertsystem.blogspot.com/2013/08/world-association-of-newspapers.html
Singh, H. (1998). Scenario planning. New Straits Times , 09.