Even in these tumultuous times, strategic planning doesn’t have to be an exercise in anxiety—or futility. APRIL 2009 • Renée Dye, Olivier Sibony, and S. Patrick Viguerie Source: Strategy Practice & McKinsey Quarterly Strategic-planning season has arrived for many companies, and it couldn’t be more different than it has been in years past. Gone are the days of linear trend-extrapolation exercises that produce base, upside, and downside cases. Strategists, now facing the most profoundly uncertain times in their careers, are creating disaster scenarios that would have been unthinkable until recently and making the preservation of cash integral to their strategies.