Overestimating predictability and malleability can lead to misplaced confidence in business strategies. This can result in a disconnect between executives' perceptions and the actual state of their environments. Overconfidence can lead to strategic styles that are not suited to the actual business environment. Furthermore, it can hinder the development of adaptive capabilities necessary for dealing with unpredictable environments. This overconfidence can also lead to a preference for accuracy over speed in decision-making, which can be detrimental in fast-paced business environments.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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