Scenario Planning– Tool for Strategic Planning and Forecasting – Webinar with Risto Siilasmaa

What is scenario planning and how it can benefit your company? How to build alternative scenarios as a part of strategy work? How to implement a scenario-building mindset in a company? On Friday, 20 March 2020, we hosted a webinar with Risto Siilasmaa, the chair of the Nokia board. In the webinar, he shared his lessons on scenario planning to help business owners, CEOs, and board members to find and prepare for alternative scenarios. During the webinar, Siilasmaa shared how to use scenarios to understand the future better and how to be able to react quickly and decisively to surprises. His insights on scenario planning can be helpful especially for business owners, CEOs, and board members to find and prepare for alternative scenarios. This skill is now more important than ever, as the COVID-19 outbreak shapes the world economy in unpredictable ways. Key Points: • Scenario planning is a great tool to prepare your company for various situations instead of relying on one single plan. • Companies need to identify multiple relevant scenarios and follow all of them. • Scenarios need to be updated regularly, especially when new data appears. • Getting insights on possible scenarios from employees is crucial – they can often spot issues that the top management misses. Questions to consider: • What are the relevant scenarios for your business? • How can you include your team in the scenario planning process? • How can you access the data to predict the probability of each scenario? • What actions can you take to increase the likelihood of positive scenarios? You can read the webinar summary from our blog https://www.nbforum.com/newsroom/blog/scenario-planning-tool-for-strategic-planning/ About Risto Siilasmaa Risto Siilasmaa is the Chair of the Board of Directors of Nokia Corporation. He joined the Nokia Board in 2008 and became Chairman of the Board in May 2012. Under his tenure, Nokia has successfully transformed from a mobile phone manufacturer to a leading communication technology company. Siilasmaa is the founder of F?Secure Corporation, a…