Scenario planning is also called by the name, the formal strategic planning technique. An advanced
learner’s oxford dictionary defines a scenario as “an imagined sequence of future events”. It is a more or less
formalized process for establishing a view about any changes that can be seen to the scale and type of activities
in the organization and to its structure. It identifies all external environmental changes that are likely to affect it.
It aims at obtaining a better understanding of the possible situation that may have to be dealt within the future.
In this context, Reill(1999) observes that “ Scenario planning tries to open minds to a range of possibilities that
organizations may have to confront. These possibilities are then ordered to produce a series of internally
consistent pictures of alternative futures. It is an intellectual process that seeks to identify issues and examine
the possible consequences of events