Adaptation of the scenario planning process and its integration into risk management. Case study of Curium Pharma.

Details

Supervisors

Decaux, Loïc

Faculty

Louvain School of Management

Degree label

Master [120] : ingénieur de gestion, à finalité spécialisée

Abstract

In the midst of an increasingly complex environment with growing uncertainty, managers must make important decisions for the future of their company - and they cannot wait. The strategic planning method called "scenario planning" is a useful tool for decision-making under uncertainty. However, its use generally faces two major barriers; a lack of use of scenarios in strategic definition, and a difficulty to translate scenarios into actions execution. A case study illustrates the integration of scenario planning into the risk management process. This facilitates the use of scenarios and avoids some of the problems mentioned above – even if it sometimes brings others. This paper makes two main contributions; first, a new scenario planning model that avoids these problems, and secondly, a variation of the risk management process that integrates my revised scenario planning model.