Workshop Title
The learner is expected to create value from everyday challenges
The learner is expected to create value from everyday challenges.
- Duration: 3 hours
The learner is expected to create value from everyday challenges
The learner should be able to:
- identify situations with uncertainty
- identify decision making methods in uncertain situations and everyday chalenges
- recognize the opportunities to create value
- make decisions in situations with incomplete information
- learn from experience gained in everyday challenges
This Workshop includes 2 activities. The first activity examines the nature of business uncertainty. A distinction is made between uncertainty and risk. The different levels of uncertainty are presented. In the second activity, a model for making business decisions in the conditions of uncertainty – Scenario Analysis. Finally, there is a short online quiz that allows the self-assessment of the trainees.
The first activity examines the nature of business uncertainty. Business uncertainty refers to situations where businesses face risks that can’t be foreseen or measured. Due to unprecedented or constantly changing events, it may be hard for businesses to predict their performance. Business uncertainty can be categorised into four levels based on the degree of uncertainty in a given situation. The second activity deals with a tool – Scenario analysis – a method for creating responses to various future events to reduce uncertainty and maximise the chances of achieving the desired outcome. Businesses (especially startups) should prioritise maintaining a steady cash flow in a volatile market. This means revisiting and revising the current operating plan to make it flexible and dynamic based on available data. To develop a sound plan that covers various possible outcomes in an uncertain environment, use scenario analysis to define a set of possible futures based on anticipated challenges. Then, develop strategies to respond to each scenario.
Experiential workshops may entail a form of resistance by the participants as their active participation is required. Thus, if the participants are distant, a couple of ice breaking activities may be required. However, every experienced trainer knows how to deal worth such situations. Furthermore, some concepts presented may need more details for the participants to achieve the learning outcomes, which is why the partnership provides additional resources.
Step by step instructions for the preparation and implementation of the workshop
Step 1: Start with a brief introduction of the concept of uncertainty, the distinction between uncertainty and risk, and present levels of uncertainty (PPT).
Step 2: Split student into groups
Step 3: Pass out to participants the exercise Worksheet (Attachment 0.2).
Step 4: Ask each group to think about the different levels of uncertainty.
Step 5: Close with discussion.
Step 1: Briefly present steps in Scenario Analysis (PPT).
Step 2: Pass out to participants the exercise Worksheet (Attachment 0.2).
Step 3: Allow 1 hour for brainstorming.
Step 4: Discuss the results with the trainees.
Resources
Training rooms, pens, paper, flipchart, colorful markers, sticky notes, projector
