Why Learning From Experience is an Unnatural Act

  • Reference: HBS-1567BC-E

  • Number of pages: 29

  • Publication Date: Oct 13, 2005

  • Source: HBSP (USA)

  • Type of Document: Book Chapter

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Description

Despite the unsettling reality that much more is unknown than known when it comes to strategic experiments, companies must occasionally take risks on strategic experiments if they hope to stay ahead of the competition. The winner is not necessarily the one that starts with the best plan, but rather, is often the one that learns and adapts the quickest. This chapter describes the nature of the learning challenge and identifies four types of learning disabilities.