Self-perception plays a significant role in strategic planning. It influences how executives evaluate the predictability and malleability of their environment, which is crucial for choosing the right strategic style. However, there's a tendency to overestimate these factors, with over 80% of executives believing that achieving goals depends more on their actions than on uncontrollable factors. This misplaced confidence can lead to ineffective strategies. Furthermore, self-perception can also lead to unexamined habits, such as prioritizing accuracy over speed of decisions, even in fast-paced environments. This can hinder the development of adaptive capabilities necessary for dealing with unpredictable environments.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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