SUMMARY
Scenarios are all about imagination and not being afraid to think the unthinkable. Indeed, they are totally concerned with the unthinkable. They are not a mathematical exercise but a practical one, aimed at identifying events or, more precisely, combinations of events which could threaten a firm’s objectives and even its existence. As a practical exercise, they are the glue which binds the other elements of the framework together and test whether the risk framework is robust and fit for purpose. However, they do contemplate threats to the existence of the firm. If those threats appear, the immediate remedy is a well thought out and fully tested business continuity plan, which we shall consider in Chapter 17, Business survival and recovery. ...
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