Businesses can ensure that their strategic planning is grounded in reality by accurately evaluating the predictability and malleability of their environment. They should avoid overestimating these factors, as this can lead to misplaced confidence. Additionally, they should focus on building adaptive capabilities to address unpredictable environments. It's also important to value the speed of decisions, especially in fast-paced environments. Lastly, strategic planning should start by articulating a goal and then analyzing how to achieve it.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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