In my wanderings through the Internet, I recently came across a new-to-me management concept. This concept, which generally addresses the management of the risk of strategic decisions, directs C-level corporate decision-makers to embrace as a primary responsibility the management of uncertainty in order to enable the long-term success of their companies. The concept, developed by Michael Raynor of Deloitte Research, is briefly discussed in this article entitled "What is Corporate Strategy, Really" (available here: http://www.iveybusinessjournal.com/article.asp?intArticle_id=722) and in more detail in a book entitled The Strategy Paradox (more info here: http://www.amazon.com/Strategy-Paradox-committing-success-failure/dp/0385516223 ). In the article, Mr. Raynor effectively asserts that traditional models of corporate strategy are flawed because they are inherently based on a supposed understanding of future events. Instead of embracing the fallacy that they are able to predict the future, business leaders should acknowledge and accept that a significant aspect of corporate decision making is based upon planning
Tag: business decision-making
