Once you have identified your objective, you are ready to begin researching the “problem” preventing you from reaching your objective. Typically, research is the first step to gaining the knowledge needed to understand the problem. But, more than research alone, you must also diagnose the situation to get the information you need to solve the problem. Why? Research is a process of gathering, analyzing, and interpreting information to gain new knowledge. Its purpose is to contribute to your existing body of knowledge. Diagnosis is identifying the cause or nature of a specific problem or condition. It’s about determining what is wrong or why something is not functioning as expected. A McKinsey study showed that prominent company CEOs made the right decision 52% of the time. This blog post on why research and diagnosis are crucial to getting the correct information will help you get the right information to make better decisions more often.
Much of the strategy is asking what is going on here. The fundamental question is not just deciding what to do but comprehending the situation. Navigating Business Challenges: Research vs. Diagnosis In a dynamic business landscape, making informed decisions is paramount. Two essential processes that drive these decisions are research and diagnosis. While they share commonalities, they serve distinct purposes when addressing business problems or seizing opportunities.
