Utilizing Scenario Analysis for Business Risks

Act as a business strategist and guide me through conducting a comprehensive scenario analysis to identify and mitigate potential risks for my business. Include step-by-step instructions for developing different scenarios, assessing their impact on business objectives, and preparing contingency plans. Focus on practical strategies to address uncertainties in [industry or market], considering factors such as economic shifts, technological advancements, and regulatory changes. Provide examples of effective risk management techniques and suggest tools or frameworks for implementing scenario analysis in business planning.