An Initial Conceptualization of Virtual Scenario Planning

Abstract

The Problem Recent disruptive events introduced high volatility and uncertainty into the contemporary organizational environment whereby well-established organizations found scenario planning (SP) useful to craft strategy. However, because SP is typically a very costly endeavor, it is less accessible to new startups, small businesses, nonprofits, and large-scale organizations that could greatly benefit. The Solution We propose an initial conceptual model whereby sophisticated technologies that typically enable virtual events be utilized to facilitate virtual SP activities for real-time participation from geographically disbursed locations reducing expenses and providing access to one of human resource development’s (HRD’s) strategic learning tools. We posit that HRD professionals be involved in planning and implementation through the scope of technology development within the context of virtual HRD. The Stakeholders This article provides researchers and scholar-practitioners with a conceptualization of current thinking around the notion of utilizing technology to create an online environment conducive for SP. This article will be of particular interest to those involved in formulating organizational strategy including those where costs of face-to-face SP and other forms of strategic initiatives are either time or cost prohibitive.