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BUSINESS MODEL RENEWAL: HOW TO GROW AND PROSPER BY DEFYING BEST PRACTICES AND REINVENTING YOUR STRATEGY by Linda Gorchels

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CHAPTER 5Decision Making: Determining Direction

Although foresight and innovation techniques provide a lot of data and insight, they are only tools. Leaders still need to make decisions. There are some similarities across all types of decisions, but there are also differences when the decision involves something as complex as a business model. As should be clear by now, a business model decision is not a discrete event that takes place at a specific point in time. It is a process that unfolds over weeks, months, or even years. This chapter describes a basic framework for decision making and then lists some of the factors most closely related to high-stakes decisions and organizational decision making.

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