scenarios are not about predicting the future. Twenty-twenty hindsight is a wonderful thing. You can look back and laugh at the assumptions, or you can be surprised at how prescient many of them were. But the point is that the board and the executives had worked through both scenarios, and more, and when unexpected and fundamental changes – such as the rise of easyJet and the Asian economic crisis – occurred they had agreed at least their basic approach to, and contingency strategies for, any such combination of events.
