Final answer:
The five steps involved in scenario planning is identifying, assessing, developing, implementing, and monitoring scenarios for strategic planning. The correct answer is B.
Step-by-step explanation:
The five steps involved in scenario planning are :
- Identifying the problem or situation that requires planning
- Assessing potential future developments or environmental changes
- Developing various scenarios that take into account different possibilities
- Implementing strategies that align with these scenarios
- Monitoring and learning from the outcomes to refine future scenario planning.
It is important to note that scenario planning is a strategic method used within business or policy-making contexts to anticipate future conditions and plan accordingly. It often involves an iterative process where one must constantly revise their scenarios based on new information and developments to stay ahead of possible future situations. The correct answer is B.
Figure 1.7 attached below