Strategy » Resilience & Navigating Uncertainty
How can companies build resilience to increase their capacity to absorb stress, recover critical functionality, and thrive in altered circumstances?
"Uncertainty is a part of life. We would not want to go to see a movie where we knew the ending. Similarly, entrepreneurs [are] impelled to proceed with their venture because they may not know where it is going."
By creating a cycle of learning and forgetting, companies will be better able to adapt to changing environments, evading the mental entrapments of the past.
Now that the era of free capital has come to an end, businesses are re-embracing discounting. As strategists re-discover discounting, they should consider how to use it to manage uncertainty, strategize across timescales, and align multiple actors.
Munger’s success was built on a system for decision-making—not a classical investment philosophy, but rather a mental discipline underpinning one. We outline four ideas strategists can learn from Munger to think more clearly in turbulent times.
"We all seem to have collectively lost sight of what it means to be a good business, in the ethical sense."
Operations have always been foundational to competitive advantage, but the nature of this relationship is shifting.
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