Business
Three ways to make an knowledgeable decision when information is scarce.
March 07, 2024
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One ample challenge that leaders have when figuring out how or the place their companies can grow is that a dearth of data about future considerations and opportunities. In these situations, there are three ways that leaders can make exhaust of to obtain insights: contemplate at customers and startups for signs of change, skills original applied sciences rather than fair read about them, and practice “associative thinking,” which means join two reputedly disparate ideas to obtain a new idea.
It’s hard to place of abode a strategic direction within the course of uncertainty. One continual situation is that the data to clarify a path of action most efficient turns into clear when it’s too late to act. This situation — or information-action paradox — demands a paradoxical resolution. In this case, leaders want to act when the data tells them no longer to.
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Novel!
HBR Learning
Sharpening Your Business Acumen Direction
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your talents with programs care for Sharpening Your Business Acumen. Earn badges to share on LinkedIn and your resume. Access more than 40 programs relied on by Fortune 500 companies.
Take your career to the next stage by learning trade and finance basics, and creating an endeavor mindset.
