Scenario planning approach to strategic management of small travel business in MalaysiaNithi Sevaguru and Dr. Mohammad Samaun Safa () MPRA Paper from University Library of Munich, Germany Abstract: Scenario planning, an alternative strategic management tool, has given a new meaning and dimension to the way strategy should be thought, discussed and implemented in organizations. This paper introduces scenario planning in the way the turbulent world should be better managed by looking for possible futures and not predicting the only future. No matter how rational strategic planners are, the complexity of the business environment would still leave the planners guessing of their planned and predicted future. This study undertaken using scenario planning technique by looking at the future of the small travel business in Malaysia. The three plausible scenarios discovered were ‘stormy weather’, ‘blizzards’ and ‘occasional shower’. The study recommended that strategic options available for the businesses were ‘differentiation’, ‘new services’, ‘diversification and mergers/acquisition’. These options are applicable for all scenarios. Keywords: Scenario planning; strategic management; entrepreneurship; small travel industry; management imperfection; evolutionist; revolutionist (search for similar items in EconPapers) Published in International Journal of Management and Entrepreneurship 1.1(2005): pp. 65-81 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:10856 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany |
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