Taking risks (jump your uncertainty gaps)
All decisions are about the future. Since the future is uncertain, all your decisions will have an uncertain outcome. But because you’re trying to shape the future you still need to make decisions. Part of this is assessing levels of uncertainty; the other part is making decisions that can give you the best chance of succeeding despite uncertainty.
Frequency – When slowed by indecision.
Key participants – You and the team.
Strategy rating ****
Nokia took the risky decision to hire a new CEO from Microsoft – not known for success in mobile phones – and the new CEO decided to commit the future of the company to new software from Microsoft, with very little success in the mobile phone market. He reduced ...