A Fresh Look at Strategy Under Uncertainty: An Interview
Although even the highest levels of uncertainty don’t prevent businesses from analyzing predicaments rationally, says author Hugh Courtney, the financial crisis has shown us the limits of our tools—and minds.
Editor’s Note: quite topical, but still an interesting read…
Content: Thought Leader | Author: Hugh Courtney | Source: McKinsey Quarterly | Subjects: Organizational Behavior, Strategy
A Fresh Look at Strategy Under Uncertainty: An Interview
Although even the highest levels of uncertainty don’t prevent businesses from analyzing predicaments rationally, says author Hugh Courtney, the financial crisis has shown us the limits of our tools—and minds.
Content: Thought Leader | Author: Hugh Courtney | Source: McKinsey Quarterly | Subject: Strategy
Strategy Under Uncertainty
The traditional approach to strategy requires precise predictions and thus often leads executives to underestimate uncertainty. This can be downright dangerous. A four-level framework can help.
Content: Article | Authors: Hugh Courtney, Jane Kirkland, Patrick Viguerie | Source: McKinsey Quarterly | Subject: Strategy
Road Maps Through Uncertainty
This article discusses new models for planning strategic investments in times of uncertainty. The three are:
1. Contingent road maps
2. Four-Region Framework Portfolio Management)
3. Strategic Evolution Principles
Content: Article | Author: Hugh Courtney | Source: Optimize Magazine | Subject: Strategy
20/20 Foresight: Crafting Strategy in an Uncertain World
In this intriguing, clearly reasoned book, McKinsey consultant Courtney argues convincingly that managers can approach uncertainty systematically. Most managers, he says, either ignore potential problems or try to map out them out in painful detail. The better approach, Courtney contends, is to classify risk (e.g., a relatively clear future, a range of possibilities or true ambiguity) and hone a strategy based on a checklist he … [ Read more ]
Content: Book | Author: Hugh Courtney | Subjects: Risk Management, Strategy
Strategies for Tough Times
Are you a master of uncertainty? Every strategist needs to be, says McKinsey & Co.’s Hugh Courtney, author of the new book 20/20 Foresight: Crafting Strategy in an Uncertain World. Here’s an excerpt.
Content: Article | Author: Hugh Courtney | Source: Harvard Business School (HBS) Working Knowledge | Subject: Strategy
Making the Most of Uncertainty
Shape or adapt? For years, executives have regarded the question as perhaps their most fundamental strategic choice. Is it better for a company’s competitive position to try to influence, or even determine, the outcome of crucial and currently uncertain elements of an industry’s structure and conduct? Or is the wiser course to scope out defensible positions within an industry’s existing structure and then to move … [ Read more ]
Content: Article | Author: Hugh Courtney | Source: McKinsey Quarterly | Subject: Strategy