2024: The Year Start-Ups Learn To Do More With Less

Whether we’ll actually face a full-blown recession in 2024 is anyone’s guess.

However, perception is often more important than reality, and if CEO attitudes are anything to go by it’s best to hunker down just in case. Based on the Conference Board’s survey, 72% of CEOs are preparing for a recession. The Chief Executive Group found similarly muted views, with 90% of CEOs expecting economic conditions to worsen or stay as they are.

What Is Scenario Planning And Why It Matters In Business

Businesses use scenario planning to make assumptions about future events and how their respective business environments may change in response to those future events. Therefore, scenario planning identifies specific uncertainties – or different realities and how they might affect future business operations. Scenario planning attempts at better strategic decision making by avoiding two pitfalls: underprediction and overprediction.

Business Simulations Can Be A Powerful Tool For Leadership Development

According to research by John Kenworthy and Annie Wong, simulations and games “significantly increases participant enjoyment and perceived usefulness — suggesting that engagement in the learning activity is higher and that practice in using skills in a realistic (simulated) setting is fundamental in transferring the learning to the workplace.