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Embrace Complexity, Reject Conformity
Recognizing the inherent complexity of the world is crucial for businesses, as unpredictable external influences can render long-term planning ineffective. Independent thinking is essential; skepticism towards popular practices—such as share repurchases—can reveal underlying issues. Successful leaders often prioritize action over rigid planning, exemplified by the approach of not adhering to a five-year plan, echoing the insights of notable figures like Michael Bloomberg. This mindset fosters adaptability and innovation, contrasting historical failures of central planning.