Dealing with environmental uncertainty: The value of scenario planning for small to medium‐sized entreprises (SMEs)
Abstract
Purpose
The purpose of this commentary is to discuss environmental uncertainty and to illustrate the value of scenario planning for small to medium‐sized enterprises (SMEs) operating in a volatile environment.
Design/methodology/approach
The literature regarding strategy formulation, environmental uncertainty and scenario planning is reviewed and considered in the context of managerial decision making.
Findings
Given the way managers learn to “know” what is happening in their business environment, scenario planning can be adapted for use by SME owner/managers.
Originality/value
Although scenario planning was developed for use by large companies, this paper illustrates that it can be used by smaller firms.
Keywords
Citation
Johnston, M., Gilmore, A. and Carson, D. (2008), "Dealing with environmental uncertainty: The value of scenario planning for small to medium‐sized entreprises (SMEs)", European Journal of Marketing, Vol. 42 No. 11/12, pp. 1170-1178. https://doi.org/10.1108/03090560810903628
Publisher
:Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited