Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

are there A critical component of this strategy is environmental scanning, where traditional tools such as news aggregators and social media monitoring platforms are employed,

are there A critical component of this strategy is environmental scanning, where traditional tools such as news aggregators and social media monitoring platforms are employed, alongside the development of customized dashboards to comprehensively track political, economic, technological, social, and environmental factors. Scenario planning, a well-established method, is harnessed through the employment of existing tools, like scenario planning software and cross-functional teams, while stakeholder analysis tools assist in comprehending stakeholder interests, concerns, and influence. To expand the predictive capabilities, data analytics and artificial intelligence models are employed to mine historical data for early warning signs and even create predictive models. These predictive models not only scrutinize historical trends but also detect anomalies within the industry and operational landscape. However, crisis preparation extends beyond predictive capabilities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Strategic Management In The Hospitality Industry

Authors: Mike Olsen, Michael D Olsen

2nd Edition

0471292397, 9780471292395

More Books

Students also viewed these General Management questions