Businesses are increasingly using strategic foresight methodologies like scenario planning to anticipate and address the escalating organizational uncertainties driven by climate change, global conflicts, and rapid technological advancements. However, traditional approaches to scenario planning have some inherent shortcomings. They include inadequacies in identifying the most relevant trends and external forces, based on varied levels of uncertainty; limits on how many scenarios they can consider in depth; and the lack of direction they provide for how to assess and prepare for multiple highly divergent scenarios simultaneously.
Use GenAI to Improve Scenario Planning
It allows organizations to generate and consider many more options than people can on their own.
November 30, 2023
Summary.
Generative AI can help organizations overcome inherent shortcomings in conventional processes for performing contingency scenario planning. This article explores how the technology can do that and provides an example: a simulation that the authors conducted.
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New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.