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By Mok TS

Assumption means, "taking for granted" as found in The Pitman Dictionary. It is common to hear "No Assumption! make sure," but, is it true that we are to abstain from making assumptions, in order to arrive at decisions?

Can one able to gather every bit of information that is needed, in order to make a decision? We know it is now possible.

All of us have to make assumptions. If so, how can we do it?

Assumptions are not making life easier for business owners when they need to plan into the future. Thus, if their key assumptions are wrong, their present plan will not do them any good. It might even cause the company's downfall. So, is there a "right" way of making assumptions? There is none, but we can try.

Assumptions are necessary, as it set limits to a problem by providing us a framework to work with. It simplifies the problem, making it manageable.
Assumptions could be used to reflect the desired values that are to be maintained throughtout a process. An example is the element of assumption on the future when we formulate our strategic plans.

Sadly, many of assumptions produced self-imposed limits. These limits could be due to ones capability. They are not the nature of things or the law of the problem, but by limited understanding of the situation.

Whenever we are to make assumptions, we should ask ourselves, Is the assumption necessary? and if the assumption is necessary, Is it appropriate?

In strategic planning, there are many areas we need to make assumptions. Below are some of these areas.

1)Environmental factors.
2)Timing.
3)Possibility of the solutions.
4)Information.
5)Cost / Benefit factor.
6)Own capabilites.
There are more to the above list.

Lastly, we have to accept that Assumptions are necessary. But remember to use assumption articulation process and you will see new possibilities and not restraints.

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