Questions and Answers

How can we develop a more useful Industry Scenario?

First be clear as to what the Industry Scenario is designed to describe. When complete, it should predict what your industry will look like in the future, at least 5 years out and often as much as 10 years. It must address questions about changes in your customers' markets and the implication that will have on the needs and demands placed on your industry. The future of the customers served and the products/services offered should be considered. Also consider changes outside of your specific industry which may effect it (e.g., societal, governmental, and technological changes, etc.) It may be helpful to start by listing significant changes in your industry during the past ten years. This will give your team a sense of scope in terms of the types of changes that can occur and their magnitude. Another technique is to make a chart with the headings "Factors", "Current" and "Future" Start with a generic list of "Factors" that you might want to consider as part of the scenario, followed by a description of those factors both today and in the future. This will give you a somewhat more structured approach to this exercise. Industry publications and web research are also sources to find thoughts about the future from people both inside and outside of your industry.

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