Businesses can balance the need for accuracy and speed in decision making by building adaptive capabilities to address unpredictable environments. They can start their strategic planning by articulating a goal and then analyzing how to get there. They should also value accuracy over speed of decisions, even when they are well aware that their environment is fast. However, they should not overestimate their control over achieving goals and should be aware of things they cannot control.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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