The advantages of using the papa model to categorize risks?
Answers
Answer:
The advantages of using the PAPA model are:
The PAPA model provides a great example of framework that can prioritize the risks associated with it and set the stage for the desired actions. The research says that the companies with the high performance exhibit a vigilance to forces of change which allows them to manage the threats and opportunities in the uncertainties and changes better than the other organizations.The approach used at LEGO is a great example of embedding this vigilance to strategy development and execution process.The LEGO group was inspired after looking at the PAPA model and started using it since it has many advantages.It explains about how the things will change in a point of time and how to react accordingly by analyzing the trends and how to react to the situation in way before something breaks out.
Explanation:
According to Hans, the model basically suggests us to:
Park: The things which have the lowest probability of happening like we park but we won't forget to take them back.