Scenario Planning and Risk Assessment for Business Uncertainty

The video discusses scenario planning as a strategic tool for businesses to manage uncertainty. It covers the importance of preparing for unexpected events like economic shocks and natural disasters. The three pillars of scenario planning—risk identification, contingency planning, and turning threats into opportunities—are explained. Real-world examples, including Hurricane Irma and Brexit, illustrate the application of these concepts. The video emphasizes the need for businesses to plan for both negative and positive outcomes.

What is the significance of having a cash reserve for businesses facing natural disasters?

How did McDonald's experience with CEO turnover illustrate the importance of scenario planning?

What are the potential impacts of Brexit on businesses as discussed in the text?

In what ways can businesses maximize opportunities during uncertain times?