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AbstractPurpose -The purpose of this paper is to elucidate on specific risk mitigation approach which is known as "scenario approach". Description of stepwise process of their elaboration, which is worth considering for managers, offers feasible tool not only for company risk management improvement but also for significant enhancement of the quality of company strategic planning. Authors also draw attention to advantages and disadvantages of investment and strategic scenario planning. Theoretical implications of using scenario approaches are exemplified both by the set of investment projects and company strategic planning process where method in question was applied. Design/methodology/approach -As for methods applied which fulfilled research strategies, it is worth mentioning following items: analysis which explores particular parts of methodology of scenario elaboration and application, the way of obtaining information, impact on strategy, working with risks and organizational support of outcomes in company environment; synthesis observing context and natural relation of problems solved which supports research hypotheses formulation; induction generalizing facts acquired from results in companies; deduction to be grounds on which conclusion of this paper was drawn up; abstraction used upon evaluation of case studies; comparison assessing consistency and inconsistency of phenomena and objects; description inevitable for characterization of companies and environment in which they operate; interview collecting information inevitable for the evaluation of the way of working with scenarios and company knowledge standards; modelling was used upon consideration about possible future development of factors observed. Findings -The paper arrived at conclusion, that scenario approach, when used appropriately, may significantly mitigate risk exposure of the company. Conclusions which have been made on selected industrial companies can be extended to other industrial branches. Practical application of scenario planning method confirmed that this approach was superior to deterministic single scenario model. Scenario technique thus compensates for deficiencies and omissions which are inherent in si...
Company value creation is considered a significant metric to measure corporate success. One possible method is the launch of innovative products that potentially attract new customers and capture a reasonable market share. This discussion highlights examples wherein heightening innovation activities through incremental increases in Research and Development spending, the number of innovative products in the sales funnel, as well as those innovative products in the marketplace impact company value. Yet, another company value driver, worthy of consideration, is the effective management of innovation processes. The Stage Gate Control Process embodies a recognized framework for effective innovation process management. Central to this manuscript is the case of PharmaComm, a pharmaceutical company that developed a customized version of the Stage Gate Control Process. By this way PharmaComm accelerated new products development and shortened time to launch. In adapting this methodology, it multiplied company value during the acquisition process.
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