One can accurately evaluate the predictability and malleability of their business environment by first understanding the nature of their business environment. This involves assessing the level of control they have over their business environment and the extent to which it can be influenced or changed. They can then compare their perceptions with objective measures of their actual environments. This can reveal any tendencies to overestimate both factors. It's also important to build adaptive capabilities to address unpredictable environments and to value accuracy over speed of decisions, 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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