Strategy Blind-spots – How To Avoid Them
A big part of strategy is trying to “anticipate the future”. But no one has a crystal ball and we all suffer blind spots. I found this article really helpful in understanding our blind spots. The main ones are:
Acknowledging your brain’s limitations. Behavioural economics shows humans make systemic errors in judging risk & reward. We are far from the “rational actors”. To counter this tendency, solicit diverse opinions and ask yourself what biases might be at play in your calculations.
Recognizing what you don’t know — and fill in the gaps. People tend not to factor their own ignorance into their decisions. Go deeper by getting curious and articulate what cannot be known.
Planning for multiple futures. Having a clear goal important, yet it can also cause people to overlook possible pitfalls and “inconvenient” considerations. Different scenarios must be explored.
Cultivating non-traditional sources of insight. You can benefit from unconventional sources of insight, ask yourself: Who you are speaking with outside of your industry and usual social circle, and how you are opening yourself to surprise and discovery?
Source: Strategy+Business
