Kids , we see Strategic Planning first, right in this Module, now we need to know answers to
few questions. Like what we are doing, for whom we are doing, how to excel in that
particular process, right, our objectives, now for that we need to formulate some good
strategies. Now the key component in strategy formulations. Let’s check all that. We
need to check out the external analysis, right we need to know what is going on in and
around our organisation. Right, so it all comes under strategic uncertainties, which we
cannot predict. So, strategic totally depends upon uncertainties, right, in and around us.
Our growth is totally depended on it. Future event, inherent unpredictable, what is going to
happen you are not aware in future. So based on that decision must be taken in Strategic
formulation. Right, for the future and for the growth of the organisation.
Scenario analysis can be employed for two or more scenarios, why, so that we can come
closer and closer to our objectives. So scenario analysis is must and that too for two or
more future scenarios. So we have an option always available and ready so that we can go
or march ahead towards our goal. Now let’s see further, each strategic uncertainty could
have an impact on present proposed and even on potential strategic business units, why
because everything is uncertain. For example natural resources, right. So usage, availability
of natural resources, you can’t say anything on that. (2.08)