Businesses can improve their strategic planning process by accurately evaluating the predictability and malleability of their environment. They should avoid overestimating these factors. Building adaptive capabilities to address unpredictable environments is also crucial. In practice, they should start their strategic planning by articulating a goal and then analyzing how to get there. They should value the speed of decisions over accuracy, especially in a fast-paced environment.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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