The Scenario Approach to Strategic Planning Involves

question 37

Multiple Choice

The scenario approach to strategic planning involves

• A) using computers to build virtual worlds for top-level managers.
• B) honing in on a single prediction of future demand conditions using an iterative planning process.
• C) functional managers setting key corporate objectives.
• D) formulating plans that are based upon "what if" scenarios about the future.
• E) making planning the exclusive domain of top-level managers.

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Definitions:

High-Growth Markets

Markets that are experiencing or expected to experience significantly above-average growth in demand or sales, often offering lucrative opportunities for businesses.

Question Mark

In business, a term used in the Boston Consulting Group (BCG) matrix referring to products or business units with high growth potential but currently hold a small market share.

Low Market Share

The condition of a company or brand having a small percentage of total sales in its industry, often leading to less influence and profitability.

High-Growth Market

A market characterized by significantly higher than average growth rates, attracting numerous competitors and investment.