contingency planning

What can entrepreneurs and professional managers learn from each other?

Posted by on Mar 19, 2012

More importantly, when and where should these lessons be applied?  A lot has been written about the differences between entrepreneurs and managers, often with the underlying message that professional managers should try to be more like entrepreneurs. The praise showered on entrepreneurs includes that they: see opportunities where others don’t have the knack of making something out of nothing are “fearless”, “independent minded” and “adaptable” are constantly scanning for new opportunities are avid information-gatherers and opportunistic learners see and pursue opportunities without the need...

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Increase strategic payoff and reduce risk by increasing your strategic agility

Posted by on May 3, 2011

In last week’s article on strategic planning for crises, we raised two questions: 1. How can you improve the quality of your strategic decisions about uncertain future events and conditions? 2. How can you minimize the inherent risks without giving up good opportunities? This week, we’ll provide our answers. Most articles about planning under uncertainty move quickly to the probability of risks and their anticipated impact. Having run many Monte Carlo simulations, we know how subjective the inputs to these calculations can be. We prefer a different approach. We think planning under...

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