Knowledge before assumption – the key to delivering effective strategy banner image

Knowledge before assumption – the key to delivering effective strategy

The Oxford English Dictionary describes knowledge as ‘true, certain understanding, as opposed to opinion.’

It describes assumption as ‘a thing that is accepted as true, or as certain to happen, without proof.’

In this opinion piece, we highlight the futility of strategic decisions based solely on opinion and assumption.

Examples of common assumptions include:

  • We know what value we bring to our customers’ businesses
  • Our customers understand everything we can do for them
  • Our employees are happy and engaged
  • Our customers will want the new product or service we’re developing
  • We’re doing everything right – there’s not much we can do to improve
  • We understand our customers’ business strategies and specific challenges
  • And many more…

But decisions based on assumption and opinion can result in:

  • A strategy that is not market based or externally driven – more likely to fail
  • A lack of confidence and certainty at board level
  • Your business opportunities going unrealised and unfulfilled
  • Failure to achieve your optimal strategic path
  • Wasting resources on inappropriate and ineffective marketing tools and materials
  • A negative impact on your business growth and profitability
  • Taking longer to reach your business objectives

Generally, the more important your decision or business challenge, the greater your level of risk, and the greater the requirement for knowledge on which to base your actions.

Distinction Consulting specialises in acquiring the knowledge and business truths you need to help you to make sound, evidence-based strategic decisions, quickly and with confidence.

Get in touch to discover how we can help your organisation.

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