Scenario planning
Another approach to strategic planning, scenario planning ,is still remembered as having saved Shell Oil Co. in 1974 from the oil embargo that caused huge losses in all other oil companies, and the process is receiving renews emphasis. This is not a predictive approach. Under scenario planning, all possible (and even improbable) changes in the environment are considered and developed into a story. Strategic responses are then developed for each story without knowing how the environment will actually change. the, regardless of what happens in the future ,hopefully, plans have been put in place to be implemented immediately, as needed and as appropriate.