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.”
Bounded rationality is sometimes a “necessary imperfection” when we understand decision-making as part of a network.(The Decision Lab).
Further, decision-makers are bound by their environment, which asks them to prioritize the needs of the organization over their own.
The key here is : 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 does not align with the optimal or best choice for the company or organization.
This risk is greater when the technological decision-making, in need of constant revision and appraisal, is isolated or removed from other operations and business decision-making processes.
Technical decisions made previously may have been adequate for that time, in the meantime, circumstances and the appropriateness of previous solutions have changed, leaving organizations nore vulnerable. This can impact directly on your ability to fulfill your organization’s strategic goals and mission.
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 technical tools and guidance needed for better organizational decision-making and 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.