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 decide. 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: ****
Facing multi-million dollar losses, Lego took the risky decision to hire its new CEO from outside the family. And the new CEO decided to scrap many of the most imaginative projects launched in recent years – risking the innovation culture that had made Lego famous. He ...
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