ReflectionHow People Interpret Challenges Affects How They Make Strategic Decisions

Reflection
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Reflection
Introduction
In the TED talk “Strategy as Choice," Nick Hansen (an adjunct professor at Westminster's Bill & Vieve Gore School of Business) discusses strategic decision-making as predicting future outcomes. He analyzes the common feature of the best-performing companies over the past thirty years: they all experienced a “near death experience” that forced them to make a strategic choice that would either ensure their survival or result in complete failure (TEDx Talks, 2016).
Body
I agree with Hansen’s view that how people interpret challenges affects how they make strategic decisions. For instance, his example of the railroad companies that quickly accepted defeat in the face of emerging modes of transportation and began shrinking is very similar to the story of Nokia. Nokia was a highly successful technology company and a global leader in mobile pho...