Abstract
The failure of most new
companies it mostly due to lack of effective planning and the ability to dive
into the future with the state of the art planning which will bring about great
innovations that can and will more the company to the next generation creation
and which will can help resolve some of the world’s challenging problem. In a
recent case study and research into the effect of effective planning the
Monitor Group's bankruptcy surface in the research. The research reviewed how
the lack of planning and forecasting effected the growth of the company which
finally resulted in the company going into the bankruptcy. According
to Speed Matters (2012), Monitor Group's bankruptcy was because of
delay in taking aggressive actions to prevent a bankruptcy, which they were
used to be hired to solve for their clients. .
scenario-type planning support planning and innovation for
change
The impact of effective planning goes a long way to advance the
case to innovation creation and also open the door for greater research into
the current situation. The implementation scenario-type planning provides a
great avenue to the advance support of constructive innovation and proper
planning which does not only limit its focus to just planning but also into the
field of innovation. The effective implementation of a scenario-type planning
creates a great change in the overall planning and the introduction of future
innovation. Further investigation review that this system introduces a strong
tool which enable speedy corrective actions (Keamey, 2012). This style of
planning has become a very critical choice which enable Managers and decision
makers in an organization to plan for a global approach in for the growth of
the business and to drive forces with global further planning.
Forces involved, and impacts they make
The planning of any system involves a challenge and these
challenges are the forces that impact smooth implementation of the plan which
will affect the innovation and further forecasting. Scenario base planning can
be affected by natural factors such as the environment and the geographical
system. Another force that affect this system can be global credit crisis.
These events can be a force which affect the good plan system. These forces can
cause issues and a delay in the planning and the implementation of the plans. The
advancement of technology has also had some negative impact on use of these
planning system. The introduction of the social media has also affected the use
of this method of planning (Axson, 2011),
Scenario Plan work approach
Using scenario planning for future innovation efforts
In using scenario planning for future innovation efforts, there
will be need to generate a dynamic series of plausible outcomes that serve to
challenge preconceptions. Research on existing organizations for such instances
will be carried-out. This would enable the process to uncover blind spots, and
identify what align organizations around a commonly accepted sense of direction
and action.
Scenario plan and account for the social impact of change
Scenario plan do account for the social impact of change. It
begins by providing leaders with a better understanding of the world and the
macro drivers of change that are at work, which assist leaders to drill down to
decision making at the operational level (Axson, 2011).
References
Speed Matters (2012). Monitor Group: A Failure of Scenario
Planning. Retrieved
from http://spendmatters.com/2012/11/13/monitor-group-a-failure-of-scenario-planning/
KearAxson, D. J. (2011). Scenario Planning: Navigating Through
Today's Uncertain World. Journal of Accountancy. Retrieved
from http://www.journalofaccountancy.com/issues/2011/mar/20103483.html
