Common pitfalls in strategic planning include misplaced confidence and unexamined habits. Misplaced confidence can lead to overestimating one's control over achieving goals, while unexamined habits can result in a lack of adaptive capabilities for unpredictable environments. These pitfalls can be avoided by accurately evaluating the predictability and malleability of the environment, and by building adaptive capabilities to address unpredictable environments. It's also important to value the speed of decisions 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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