Which of the following methods of developing a strategy best illustrates scenario planning?
A) Based on the previous year's profits, the CEO of Solva Inc. decided to adopt an expansion strategy in its home market.
B) A sales person at MP Foods Inc. suggested that the company should introduce an organic version of its gelato to cater to the needs of the increasingly health-conscious population.
C) The managers at Lyon Clothing Inc. formulated a strategy that is able to handle small to medium to large increases in the prices of cotton in the future.
D) The CEO of BCT Inc., a large conglomerate, has decided to enter the South American market based on the competitor's success in the same market.

Question

Quizplus · Accepted Answer

Scenario planning asks those "what if" questions. Similar to top-down strategic planning, scenario planning also uses a rational, scientific approach to the strategy process. In addition, in scenario planning managers envision different scenarios, to anticipate plausible futures.

Which of the Following Methods of Developing a Strategy Best