Glossary term
Strategic bet
A deliberate investment based on a belief about the market, customer or business that has not yet been fully proven.
Also known as: product bet, business bet
A strategic bet commits meaningful capacity to a specific belief about how the company can create an advantage.
It should state what the organisation believes, what evidence would increase or reduce confidence and when the decision will be reviewed. Calling something a bet does not mean guessing. It means acknowledging uncertainty rather than disguising it as a certain plan.
