Executives can better align their perceptions with the realities of their business environments by accurately evaluating the predictability and malleability of the environment. They should avoid overestimating these factors, as this can lead to misplaced confidence. Building adaptive capabilities to address unpredictable environments is also important. In practice, this means starting strategic planning by articulating a goal and then analyzing how to get there. Additionally, valuing accuracy over speed of decisions can help executives better align their perceptions with reality, even in fast-paced environments.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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