Scenario Planning and Innovation: Lessons from Nokia's Forecasting Failure Introduction Straightforward forecasts and linear plans can expose organizations to unexpected disruptions in fast-changing industries. Scenario planning offers an alternative approach by preparing for multiple plausible futures, supporting innovation and strategic agility. This paper examines how scenario-based planning aids planning for change and innovation. It analyzes a notable case from the past decade – the downfall of Nokia in the smartphone industry – where overreliance on standard forecasting and neglect of scenario planning led to failure. The analysis identifies key forces in Nokia's collapse and their impacts, illustrates the role of scenario planning through a planning model, and reflects on how scenario planning could inform future innovation efforts with attention to the social implications of change. An evidence-based evaluation of Nokia's planning deficiencies and consequences will ...