Scenario planning as approach to improve the strategic performance of multinational corporations (MNCs)
Abstract
The primary purpose of this study was to explore the relationship between scenario planning and strategic performance. The data was collected from 121 Multinational corporations operating in Jordan by using a questionnaire. Pearson correlation and the partial least squares (PLS) methodology for factor analysis and path modelling was used to test the study hypotheses. The study found a positive and statistically significant relationships between scenario planning and the four components of strategic performance: financial performance, customer performance, learning and growth, and internal business processes. Based on these findings, the study recommends that managers should apply scenario planning practices to enhance the levels of strategic performance in their companies. Additionally, managers should raise the awareness of their employees regarding the importance of both scenario planning and strategic performance. Moreover, managers should provide their employees with adequate training courses in relation to acquire the knowledge and build their skills in the field of scenario planning. Finally, managers should use the diagnostic instruments that developed by previous research to assess a company’s strategic performance and scenario planning practices, identify managerial practices that need to be implemented or improved, and determine the resources that might realistically be required to build a better scenario planning process and promote strategic performance. Much more research and studies need to be performed in this budding subject. Links among scenario planning and another organizational topics and outcomes need to be searched.
Keyword : scenario, scenario planning, strategic performance, MNCs, Jordan
How to Cite
Abuzaid, A. N. (2018). Scenario planning as approach to improve the strategic performance of multinational corporations (MNCs). Business: Theory and Practice, 19, 195-207. https://doi.org/10.3846/btp.2018.20
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Chermack TJ, Lynham SA, van der Merwe L (2006) Exploring the relationship between scenario planning and perceptions of learning organization characteristics. Futures 38 (7): 767-777. https://doi.org/10.1016/j.futures.2005.12.010
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Drew SAW (2006) Building technology foresight: using scena- rios to embrace innovation. European Journal of Innovation Management 9 (3): 241-257.
Durance P, Godet M (2010) Scenario building: uses and abuses. Technological Forecasting and Social Change 77 (9): 1488-1492. https://doi.org/10.1016/j.techfore.2010.06.007
Fornell C, Larcker D F (1981) Evaluating structural equation models with unobser vable variables and measurement error. Journal of Marketing Research 18 (1): 39-50. https://doi:10.2307/3151312
Glick MB, Chermack TJ, Luckel H, Gauck BQ (2012) Effects of scenario planning on participant mental models. European Journal of Training and Development 36 (5): 488-507. https://doi:10.1108/03090591211232066
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Hartmann D, Stillings C (2015) Using scenarios in multinational companies across geographic distances – a case from the chemical industry. Foresight 17 (5): 475-488. https://doi.org/10.1108/FS-11-2014-0076
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Hojer M, Ahlroth S, Dreborg KH, Ekvall T, Finnveden G, Hjelm O, Hochschorner E, Nilsson M, Palm V (2008) Scenarios in selected tools for environmental systems analysis. Journal of Cleaner Production 16: 1958-1970. https://doi.org/10.1016/j. jclepro.2008.01.008
Inayatullah S (2009) Questioning scenarios. Journal of Futu- res Studies 13 (3): 75-80 http://jfsdigital.org/wp-content/ uploads/2014/01/133-S01.pdf
Jusoh R, Ibrahim DN, Zainuddin Y (2008) The performance con- sequence of multiple performance measures usage: evidence from the Malaysian manufacturers. International Journal of Productivity and Performance Management 57 (2): 119-136. https://doi.org/10.1108/17410400810847393
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