What leaders, managers and professionals should learn form expert entrepreneurs
Challenge 3: Strategic Thinking
Move fast and adapt quickly
When faced with the question, “What to do next?”, incorporating a strategy will simplify the decision-making process. Strategy is usually rooted in future predictions. However, when we can’t plan, or lack the necessary tools and information to make predictions, we need to move fast and adapt quickly.
We argue for a third, control-based option, which follows the logic: “if we can control it, we don´t need to predict it”. When businesses are faced with situations where reliable predictions of the future are simply not possible, control-based strategies may be the optimal option. Control-based strategies have at least three advantages: reduced cost of prediction, reduced cost of failure and – perhaps most important – creativity and entrepreneurship as main elements in strategizing.
Do you face one or more of these challenges:
- What to do next – lack of valid predictions?
- How can future outcomes be created without predicting the future?
- What can be done, when “nothing can be done” (according to causal analysis)?
- How can the cost of strategy failures be reduced?
- How can strategy be developed by doing the possible (instead of just thinking the desirable)?
Please contact us and let us meet.