COSTS. RISKS AND TESTS OF STRATEGY

What are costs? What sorts of things should be included in the costs of a strategy? What are opportunity costs? What are risks? How are risks different from threats? What are examples of the three types of risk? When is it difficult to tell the difference between costs and risks? How do you calculate a strategy's expected utility? What are each of the -ilities tests? Which are the most important? Can you think of a strategy that failed because of a misdiagnosis of the problem? What arc some practical methods strategic leaders could apply to help them deal with problems with bias, group think, and related problems?                                    

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