3: The environment

Question 1

What are issues to consider when validating information

Answer 1

• Integrity of source
• Corroboration and substantition
• Motivation of source provider
• Age of information
• Former historic accuracy

Question 2

Static v dynamic environment

Answer 2

Static - Certainty over the future, little changes to environment

Dynamic - Constant and potentially rapid change

Question 3

Scenario planning

Answer 3

development of pictures of potential futures for the purpose of managerial learning and the development of strategic responses

Useful for LT views of strategy, considers a range of outcomes

Question 4

What is the approach to scenario planning

Answer 4

1. identify key forces e.g. using pestel
2. Understand historic trend of the key forces
3. Build future scenarios