TITLE

Dennis Stearns: From Games of Chess to Financial Plans

AUTHOR(S)
Opiela, Nancy
PUB. DATE
January 2000
SOURCE
Journal of Financial Planning;Jan2000, Vol. 13 Issue 1, p104
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article presents the views of Dennis Stearns, Stearns Financial Services Inc. on scenario learning. Explains Steams, scenario learning is about understanding the past, but taking a whole, fresh look at how the future might unfold and making sure that one understands all the different ramifications of what are called future worlds. Although scenario learning is a relatively new concept in the financial planning world, Stearns notes that it has been used by Fortune 500 companies for 20 years. As Stearns talks, scenario learning's roots in chess and the military become more clear. Stearns says it's this brainstorming process, learning how to consider multiple futures, that is at the heart of scenario learning. Scenario learning is as much about getting more in tune with things that might dictate the future as it is about forecasting the future. It helps in the forecasting, of course, but it's much more useful on the learning side, he explains. One goal in using scenario learning is to be well positioned to take advantage of changes that may occur in the future.
ACCESSION #
2711362

 

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