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Unjx7877

Business Finance

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In a paper 1-2 pages in length with at least four resources

Using the CPG and other sources, conduct whatever research is necessary to understand scenario-based, function-based, and capabilities-based planning approaches. To understand the strengths/weaknesses/opportunities/threats (SWOT) analysis planning approach, use any explanatory source that you find, readily available via the Internet. To fully understand all of these approaches, you will need to research other sources to aid you in engaging in the discussion below; find and reference at least three additional resources that you used and explain what value they added to your understanding.

Assignment Guidelines

  • In 4–5 paragraphs, address the following:
    • List and describe each of the four planning approaches. For each one explain or provide the following:
      • How this approach is designed
      • For what purposes this approach is most commonly used
      • An example of planning requirements for which this approach would not be ideal
    • Using any two or more of the planning approaches you have just described and discussed, explain how these might be combined to become useful as a hybrid approach. If you choose a hybrid approach that is not a result of your own original thought, properly cite from where you derived the model.
      • Describe in detail this existing or proposed hybrid approach. Also explain why you believe the hybrid is superior to any single approach.
      • Provide and discuss at least two illustrations (real or hypothetical) of how and when your selected or newly proposed hybrid planning approach would be the best choice for emergency planning.

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Explanation & Answer

Attached.

Running head: PLANNING APPROACHES

Planning Approaches
Student’s Name
Institutional Affiliation

1

PLANNING APPROACHES

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Planning Approaches
This paper will discuss the scenario-based, function-based, and capability-based and
SWOT planning approaches and develop a hybrid approach for effective planning.
Scenario-based planning
This approach is designed to develop and think through unforeseen and possible
future states/events. It is founded on the assumption that the future is uncertain and utilized
strategic thinking processes to formulate better strategies to overcome biases, make informed
decisions and strategize options in preparation for the future. The approach is commonly used
by managers to determine how best to allocate resources, train employees, encourage
flexibility and diverse thinking for awareness and readiness of uncertainties like the external
business environment conditions (Wulf, Meißner, & Stubner, 2010). The method is not ideal
for short-term plans or resolving present scenarios/problems in a business.
Function-based approach
The function-based approach is a method that facilitates organ...


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