Creating strategic advantage with dynamic scenarios

Abstract

Purpose

The authors illustrate how the Dynamic Scenario Learning Process works in practice.

Design/methodology/approach

A case showing how “Forward Bank” used the DSLP to discover crucial inter‐relationships that were not intuitively obvious.

Findings

Forward's scenarios provided a year's head start on understanding how to manage the dotcom collapse and the 9/11 attacks. Because managers had considered how to implement the robust strategies and apply contingent strategies as unfolding events merited, they were better prepared.

Research limitations/implications

The DSLP is not just a strategic planning tool; it is also an instrument of leadership.

Practical implications

The DSLP process creates bonds within the organization as everyone from senior leaders to front line employees across business lines and functions share a common language to communicate their insights into future possibilities. Narratives based on a DSG are easy to grasp and can be widely disseminated throughout the organization.

Originality/value

The case demonstrates how to use a scenario tool to achieve widespread learning so that an organization is well prepared to rapidly adapt to discontinuity.

Citation

Schriefer, A. and Sales, M. (2006), "Creating strategic advantage with dynamic scenarios", Strategy & Leadership, Vol. 34 No. 3, pp. 31-42. https://doi.org/10.1108/10878570610660582