Revisiting Strategic Assumptions.

This article explores the significance of strategic assumptions in decision-making, particularly for entrepreneurs and management teams facing high uncertainty. The author presents a model that identifies nine categories of assumptions to consider when creating a strategic plan or making strategic decisions. These categories encompass various aspects such as the macro-environment, market and competition, customer behavior, stakeholder behavior, assets, finances, internal processes, employee assumptions, and background beliefs. The article references a scientific study that supports the value of identifying and testing strategic assumptions in decision-making, showing that firms that adopt this approach experience faster revenue growth and are more likely to exit unviable business models. The article emphasizes the importance of ongoing monitoring, testing, and grounding of strategic assumptions, and suggests that even entrepreneurs without formal business education can benefit from using strategic assumptions in decision-making. [Extracted from the article]