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A business scenario is a description of possible events and factors that could occur within a business context. It helps companies identify potential threats and opportunities to minimize negative consequences and maximize potential benefits. Different scenarios can occur when a customer places an order, and the outcome depends on how the company handles the situation. Following a business scenario can help companies grow and avoid bankruptcy.
A business scenario is a description of a set of circumstances that could occur within a business context. Typically, a scenario is based on a combination of events and factors that make up the company’s current state, then augmented with some projections of possible events that could occur in the future. The purpose of the business scenario is to determine what is most likely to happen if certain events occur in the future, enabling the business to take immediate steps to minimize negative consequences while also positioning itself to make the most of potential opportunities.
One of the easiest ways to understand a business scenario is to consider the situation of a customer who wants to place an order. During this process, the customer will identify the items you wish to purchase, and the employee or other company representative will add those items to the order. During this part of the event, several scenarios can occur as a result of this order placement. The job is to determine which is more likely and to ensure that the course of action is followed so that both the company and the customer are happy with the outcome.
A possible business scenario for this situation is that the clerk or salesperson checks and finds that all items in the customer’s order are in stock and available for immediate shipment once payments have been agreed. The result here is that the business makes a sale and the customer can look forward to receiving their ordered items without delay. With this business scenario, there are no complications and the outcome is win-win for all parties.
An alternative business scenario is that one or more ordered items are not available. Here, the clerk can attempt to deflect a possible adverse reaction by making the customer aware of the current status of those items, looking at a specific future date when that part of the order can be fulfilled. If this is acceptable to the customer, then the order can be filled with a partial shipment now and a second shipment later to fill the remainder of the order. With this scenario, the sale is still completed and there’s a good chance the customer relationship will remain strong.
A third business scenario would involve one or more ordered items not being available due to suspension. Here, the clerk can draw on past experience and history with the customer and make suggestions for substitutions. The idea is to shift the focus away from what the company can no longer provide and towards what the company still has to offer. Depending on how suitable the alternatives are, this scenario may be satisfactory for the customer who is satisfied with the replacements and chooses to continue the business relationship. Alternatively, the business could lose the customer as it is no longer able to meet that customer’s needs and wants. With this unfortunate business scenario, the company faces a loss of customer and the revenue generated from that account, typically looking for a new customer with a similar business volume level.
Composing a business scenario and following it to a logical conclusion can often help companies identify situations that could pose a threat to the business. Alternatively, the scenario can spark ideas that ultimately help the business grow. As long as the scenario is based on reliable information, using this type of business tool can go a long way in helping a company make the most of the opportunities available while minimizing outcomes that would weaken the business and make bankruptcy a strong possibility.
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