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A do nothing strategy is when a strategy planning activity results in a decision to do nothing. In a strategic game such as chess it would often be an advantage to make no move for a turn. Unfortunately, this is against the rules of the game. In real life, doing nothing is often possible and optimal.
Bias for ActionA bias for action is a tendency for people to think of strategy as actions without considering possible inaction. ExampleInvestors commonly feel they need to execute trades to make money. For example, a bias for action may drive an investor to buy a stock when they aren't sure it is priced fairly. In many cases, a do nothing strategy may be a superior choice. |
Type | | Definition (1) | A strategy to do nothing. | Definition (2) | Strategic planning that results in a decision to do nothing. | Definition (3) | The strategic choice to hold your current position without making a change. | Related Concepts | |
Business Strategy
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