Executives tend to overestimate the predictability and malleability of their environment due to misplaced confidence and unexamined habits. They often believe that achieving goals depends more on their own actions than on uncontrollable factors. Additionally, while they acknowledge the importance of adaptive capabilities for unpredictable environments, they often lack competence in this area. They usually start strategic planning by setting a goal and then analyzing how to achieve it, valuing 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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