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The executives at Dizzy & Sons Corp. are developing strategic plans to address plausible future situations like rise in the prices of cotton and synthetic fabrics by 20 percent, appreciation in the value of the dollar, increase in the cost of labor by 30 percent, and increase in demand for the company’s products. By doing so, the company will be well prepared with its planned responses if any of these situations occurs in the future. Thus, Dizzy & Sons Corp. is employing ________ as the approach to the development of strategy.

Respuesta :

Nyctalus

Answer:

scenario planning strategy

Explanation:

In simple words, Scenario planning helps to identify your essential uncertainty and to establish realistic situations in attempt to address the implications as well as the answers to be provided to every one of those. If you know what might also happen, you're more able to live with whatever is going to occur. One approach to build potential events is to identify and determine patterns that are more likely to emerge and which are more relevant to the progress of the enterprise.

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