Forget perfect: how to make decisions during uncertain times
Many directors are struggling with decision-making when the data changes daily. Boards should take a “roughly right” approach to keep moving forwards.
Image: Vlad Chorniy/Shutterstock
Even before Covid-19 we were living in a period of high uncertainty and volatility. Every sector of our economy was, arguably, being disrupted by technological change and/or by cross-border competition. Political uncertainty was already evident in the US, not to mention Brexit closer to home.
Successful executive teams around the world were operating in markets disrupted by changing consumer behaviours and with changes speeded up by technological advances. The data their decisions were based on was often incomplete and ambiguous. Like it or not, those decisions could often be wrong in retrospect. They would also need to be reviewed and rev
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