Question

How can you increase your comfort level with making strategic decisions quickly, with limited information and high
consequences?

Answer 1

Answer:

I hope this is helpful for all

Explanation:

Ultimately an entrepreneur is developing to the stakeholders’ interests. (A stakeholder is basically anyone who has a “stake” in the thing or business being developed). Whether they affect or are affected by the proposition, the comfort level builds in making quick decisions because a more objective viewpoint is adopted. Of course through experience a higher level of tolerance for ambiguity develops, and the percentage of risk is fine-tuned. Through survey and focus groups the entrepreneur is constantly considering all aspects of a decision and the comfort level naturally grows with more and more objective data – taking the decision out of the less reliable subjective mindset. The consequences of a decision, then, are more accurately assessed allowing for a course correction when needed.