Exceptionalism and Principles

In my day job advising MBAs pursuing consulting careers, I give a lot of students practice interviews, especially case interviews. A typical case interview presents a hypothetical business/client problem and asks the student to lay out a structured approach to the problem. So far, so good. At some point in some cases, however, the student…

Jackpots, Complexity, and Difficulty

The Problem:  In considering decisions that do not have a transparent answer, many business leaders and strategists fail to distinguish between problems that are hard (i.e., those that require specialized skills or information that is not reliably or readily accessible) from those that are complex in that they require many steps to solve, but each…