What are the steps to ensure comprehensive and accurate business scenario analysis?

2 Identify and describe the scenarios

The next step is to identify and describe the scenarios that represent the possible outcomes of your situation. You can use various sources of information, such as data, trends, assumptions, insights, and feedback, to generate ideas and hypotheses. You can also use different methods, such as brainstorming, interviews, surveys, workshops, and simulations, to elicit and validate the scenarios. You should aim to create a balanced set of scenarios that cover a range of plausible and relevant possibilities, from the most likely to the most extreme.

3 Evaluate and compare the scenarios

The third step is to evaluate and compare the scenarios based on their impact, feasibility, and desirability. You need to assess how each scenario affects your organization's performance, capabilities, resources, and stakeholders. You also need to consider how realistic and achievable each scenario is, given the internal and external factors and uncertainties. You can use various criteria, such as financial, operational, strategic, and ethical, to measure and rank the scenarios. You can also use different tools, such as matrices, charts, and models, to visualize and compare the scenarios.

4 Identify and prioritize the actions

The fourth step is to identify and prioritize the actions that you need to take to achieve your desired scenario, or to mitigate or avoid the undesirable ones. You need to define what changes you need to make in your business architecture, such as your processes, capabilities, value streams, information, and governance. You also need to determine what resources you need to allocate, what risks you need to manage, and what benefits you expect to realize. You can use various techniques, such as gap analysis, roadmaps, and business cases, to plan and justify your actions.

5 Communicate and validate the results

The final step is to communicate and validate the results of your business scenario analysis with your stakeholders. You need to present your findings, recommendations, and action plans in a clear and concise way, using appropriate formats, such as reports, presentations, diagrams, and stories. You also need to solicit feedback, input, and approval from your stakeholders, such as your executives, managers, employees, customers, and partners. You can use various methods, such as meetings, workshops, surveys, and prototypes, to engage and collaborate with your stakeholders.