Running simulations in business planning has several benefits. It allows businesses to model different scenarios and understand potential outcomes. This can help identify opportunities and threats, and inform decision-making. Simulations can also help businesses understand the forces that keep their current system stable, and identify where and how to intervene. Finally, simulations can be used to test different interventions in a controlled environment, before they are implemented in the real world.
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How do you prepare your business for black swan events like pandemics or financial crises? Rogue Waves by Jonathan Brill explores how to prepare for a...
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The first step is the Reality Test, used to deeply understand your present state. The Organize Your Forces step helps you model the forces that keep your current system stable. Step three is to Generate Your Futures through simulations to identify potential opportunities and threats. Step four is Uncouple Opportunities from Threats to identify where and how to intervene. The fifth step is Experiment, where you build an experiments portfolio to maximize your odds of success
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