Planning is easier than strategy, so we are inclined to jump into it and avoid the difficulty of first tussling with strategy
Planning helps us cope with fears of the unknown. Strategy, on the other hand, plunges us into fear and discomfort. But that’s necessary. “In fact, if you are entirely comfortable with your strategic plan, there’s a strong chance it isn’t very good,” he writes in his bookPlanning is no substitute for developing strategy.
In doing so, his first rule is to keep the strategy statement simple. Focus on the two choices that determine success: What specific customers to target and how to win by creating compelling value for those customers. If you truly narrow it down to those elements, your strategy can be summarized on one page with simple words and concepts.
In improving decision-making, he says it’s important to probe the models you are embracing, which may be fallacious. Over his years as a consultant, he was called in to help companies when things were amiss. Usually people figured that was because they weren’t working effectively enough in pursuit of their goals rather than considering the possibility that the model of thinking they were following was wrong for the situation.
Although MBA degrees revolve around data analysis, the former business-school dean warns that management decisions cannot be reduced to an exercise in data analysis: Creating great choices requires imagination more than data. In assessing situations, he says a key skill is differentiating between the elements you can change and those you can’t.parts and then test their logic,” he says.
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