As technology evolves and accelerates, especially at its current pace, it causes complexity, impacting your organization’s ability to fulfill its mission. Without a proper technology mitigation strategy, your organization faces significant management and planning uncertainty. This, in turn, creates risk.
Imperfect mitigation strategies, technical or otherwise, are more likely to occur under circumstances of what Public Administrative theorist, Nobel Prize-winning economist, and Turing Award winner Herbert A. Simon termed “bounded rationality.”
The key here is this : the greater the complexity of the decision, the more uncertainty is involved, and therefore the greater the impact will be on your organization. For example, things can become complex in a company or organization where an individual’s “optimal” choice may not align with the optimal choice for the company or organization. To clarify further, decision-makers are bound by their environment, which asks them to prioritize the needs of the organization over their own. Bounded rationality is sometimes a “necessary imperfection” when we understand decision-making as part of a network.(The Decision Lab).
Improving communication by incorporating diverse disciplines in your decision-making can help mitigate this uncertainty. Our collective’s services are designed to address this specific challenge, providing you the necessary tools and guidance needed for better decision-making and organizational outcomes.
Learn More About the Consequences of Making Decisions in An Environment of “Bounded Rationality” here
To reduce uncertainty in your technical projects and decision-making, get in touch with us here.