The implications of the finding that achieving goals depended more on executives' actions than on uncontrollable factors are significant. It suggests that executives have a greater influence on the success of their strategies than they might think. This could lead to overconfidence, as they may believe they can control more aspects of their environment than they actually can. It also implies that executives need to focus on building their adaptive capabilities to better respond to unpredictable environments. However, the study found that fewer than one in five executives felt sufficiently competent in this area. This suggests a gap between the perceived and actual abilities of executives, which could impact the effectiveness of their strategies.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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