Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique
What will be an ideal response?
Scenario analysis consists of developing plausible representations of a firm's possible future that make different assumptions about forces driving the market and include different uncertainties. Answers may vary on why to use the concept but answers should be mindful of the definition given. Students should try to anticipate the problems that are likely to aggravate in the energy industry and how scenario analysis may help the companies to anticipate the future and be prepared to adjust their processes accordingly.
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When marketers give journalists real news and commentary when they need it, the result is often
A) perceived negatively by journalists' supervisors. B) an invitation to advertise in the particular news medium. C) a positive media mention of the marketer's product or firm. D) a prize-winning, investigative news story. E) in the form of a massive increase in product sales.
Reasons for writing long, formal reports include when large numbers of people are affected and when large sums of money are involved
Indicate whether this statement is true or false.