Teaching scenario planning: Lessons from practice in academe and business

George Wright, George Cairns and Paul Goodwin

European Journal of Operational Research, 2009, vol. 194, issue 1, 323-335

Abstract: In this paper, we engage with O'Brien's [O'Brien, F.A., 2004. Scenario planning - lessons for practice from teaching and learning. European Journal of Operational Research 152, 709-722] identification of both pitfalls in teaching scenario planning and proposed remedies for these. We consider these remedies in relation to our own experience - based on our practice in both the academic and business arenas - and we highlight further pitfalls and proposed remedies. Finally, we propose the use of "hard" multi-attribute decision analysis as a complement to "soft" scenario planning, in order to allow a more formal method of strategy evaluation against a range of constructed scenarios, This approach is intended to remedy biases that are associated with holistic evaluations - such as lexicographic ranking - where undue attention is paid to particular strategic objectives at the expense of others. From this discussion, we seek to contribute to cumulative refinement of the scenario process.

Keywords: OR; in; strategic; planning; Education; Psychology (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:194:y:2009:i:1:p:323-335

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