Scenario management-An approach for strategic foresight

Scenarios are an effective tool for helping a company to be successful in its competitive environment. The authors show how CI professionals can develop corporate, industry, market, and global scenarios. This is explained by the case study of the German pump industry. The authors also describe the integration of scenarios into the processes of competitive intelligence and strategic management. This includes specific methodological approaches to identify the consequences of certain scenarios, to develop new strategies, and to assess existing strategic guidelines and current strategic decisions. In addition, they show how to combine scenarios and early‐warning systems within a process of strategic foresight. © 2000 John Wiley & Sons, Inc.