Scenario-based strategizing: Advancing the applicability in strategists' teams

Resource type
Authors/contributors
Title
Scenario-based strategizing: Advancing the applicability in strategists' teams
Abstract
For over 40years, scenarios have been promoted as a key technique for forming strategies in uncertain environments. However, many challenges remain. In this article, we discuss a novel approach designed to increase the applicability of scenario-based strategizing in top management teams. Drawing on behavioural strategy as a theoretical lens, we design a yardstick to study the impact of scenario-based strategizing. We then describe our approach, which includes developing scenarios and alternative strategies separately and supporting the strategy selection through an integrated assessment of the goal-based efficacy and robustness. To facilitate the collaborative strategizing in teams, we propose a matrix with robustness and efficacy as the two axes, which we call the Parmenides Matrix. We assess the impact of the novel approach by applying it in two cases, at a governmental agency (German Environmental Ministry) and a firm affected by disruptive change (Bosch, leading global supplier of technology and solutions).
Publication
Technological Forecasting and Social Change
Volume
124
Pages
214-224
Date
November 1, 2017
Journal Abbr
Technological Forecasting and Social Change
ISSN
0040-1625
Short Title
Scenario-based strategizing
Accessed
30/05/2018, 09:50
Library Catalogue
ScienceDirect
Citation
Lehr, T., Lorenz, U., Willert, M., & Rohrbeck, R. (2017). Scenario-based strategizing: Advancing the applicability in strategists’ teams. Technological Forecasting and Social Change, 124, 214–224. https://doi.org/10.1016/j.techfore.2017.06.026