Topic: My scenario planning will consist of a complete road map of “what if’s” business failed. First, to save and invest money, so you will have income, while looking for a new job or somewhere else to locate your manufacturing plant. However, need to understand the laws of all countries that involving with my business and make sure to get my information about the tariff law between countries and have in place a contact agreement from top government members. I need to have some contingency plans, for backup situations, just in case my original plans didn’t go through, then continue with other plans. Also, make sure to stay flexible and continue giving more knowledge on the situation, so it won’t bite me again. So, here are some facts to put in place for your company: SWOT analysis, PESTEL analysis and the six steps in formulating a scenario plan to help your business.

Questions: Having a contingency plan is a great idea as well as making sure you have savings set aside in case of failure. However, what exactly would your first plan be? What would your contingency plan be? I would make sure to have a legal team review the laws before setting up in another country! Not just the laws on tariff’s but all laws in general pertaining to your business.

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