Systematic approach to scenario planning, involving primary research and case building for key management decisions.
On 7-June provided Dr. Baljit Singh, Managing Director & Partner of Life Sciences at INOVIS AG (and former Director of Global Integrated Insights at Novartis Pharma AG) along with Mika Partanen, Director of Global Competitive Intelligence at Bayer Pharma AG, provided an overview of a new, unique and first-in-class web-based scenario planning tool – ProACT – which helps mitigate risk, leverage opportunities and optimize strategies.
Under the motto 'Reap the Many Benefits of ProACTive Scenario Planning - Mitigate Risk, Leverage Opportunities & Optimize Strategy' we learned how only very small percentage of individuals and companies effectively take the time and effort to plan for the future. Yet, those that do plan accomplish five to ten times more than do the others.
And how this is done was impressively demonstrated in these 5 steps:
Systematically approach scenario planning
Leverage and apply fundamental tools utilized during the scenario planning process
Prepare your organization for external threats and internal issues
Identify opportunities and align YOUR organization for the challenges ahead
Prioritize activities, focus areas and initiatives
Also, ProACT was introduced to the audience which sparked intense interest and discussions:
ProACT is a web-based strategic tool that enables systematic and objective scenario development and action planning
Optimize Corporate, Portfolio and Product Life Cycle tactics and strategies at Global, Regional and Country levels
Align base case assumptions and alternate scenarios across functional teams for Integrated Action Plans (IAPs)
Align different views of risk and its potential consequences