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- We need new frameworks to guide companies through uncertainty. And three key features emerge as common to these frameworks: the individual’s ability to cope with uncertainty; the organization’s ability to experiment; and recognizing that strategy is a creative exercise.
hbr.org/2022/06/strategy-in-an-age-of-uncertainty
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Jun 1, 2000 · What follows is a framework for determining the level of uncertainty surrounding strategic decisions and for tailoring strategy to that uncertainty. Four levels of uncertainty. Available strategically relevant information tends to fall into two categories.
Jun 27, 2022 · We need new frameworks to guide companies through uncertainty. And three key features emerge as common to these frameworks: the individual’s ability to cope with uncertainty; the organization’s...
- Embrace the Discomfort of Not Knowing. Throughout our careers, we are conditioned to come up with the answer — as in a single, definitive, correct answer.
- Distinguish Between Complicated and Complex. Most of us use the terms complex and complicated interchangeably when, in fact, they represent critically different circumstances.
- Let Go of Perfectionism. In a complex environment, the context is continually shifting; thus, aiming for perfection is futile. Instead, aim for progress, expect mistakes and recognize that you have the ability to continually course correct as needed.
- Resist Oversimplifications and Quick Conclusions. It’s tempting to oversimplify complex challenges, so that they seem less daunting. For example, breaking a challenge into its respective components can help you to feel like you have a greater command of the challenge at hand, but it can also narrow your view and obscure critical interdependencies, leading to a false sense of security.
- A Strategy For Uncertainty
- Flexibility Not Ambiguity
- Moving with Purpose
A scenario-based strategic planning process proactively prepares for a range of futures by: 1. defining which uncertainties the company facesand cutting through the noise by separating them into those that matter and those that don’t (see Figure 1); 2. creating a set of probable scenariosfor how the future might unfold and determining the threats—a...
Effective scenario planning requires a degree of flexibility that makes some leadership teams uncomfortable. The breadth of strategic choices seems at odds with developing a coherent strategy the organization can understand and get behind. In practice, however, preparing for a set of different futures and defining a clear strategy aren’t mutually e...
There’s another important shift most large companies face when it comes to effective scenario planning: Not only do they need to get better at monitoring the right signposts, but they also need to link those insights to strategy. When a signal trips, in other words, the most effective planners are prewired to make a decision—let’s investigate this ...
Decision making and problem solving. Strategy Under Uncertainty. by. Hugh Courtney, Jane Kirkland, and. Patrick Viguerie. From the Magazine (November–December 1997) What makes for a good...
Dec 1, 2008 · That means there is a real opportunity to rethink the way we make strategic decisions, the way we plan under uncertainty. We should realize that, across sectors, for most important decisions we’re actually pretty far to the right—levels three and four—in the uncertainty spectrum.
Mar 23, 2018 · By understanding the chances your strategy has of succeeding before you start to execute it, and knowing how those odds change based on specific actions you take, you can tackle uncertainty with hard empirics, not guesswork or wishful thinking.
