Businesses can ensure their strategic planning is grounded in reality by accurately evaluating the predictability and malleability of their environment. They should avoid overestimating these factors. Building adaptive capabilities to address unpredictable environments is also important. In practice, strategic planning should start by articulating a goal and then analyzing how to get there. Businesses should value accuracy over speed of decisions, even in a fast-paced environment.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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