Strategy and uncertainty (original) (raw)
Strategic planning and uncertainty intertwine in a realistic framework where companies and organizations are bounded to develop and compete in a world dominated by complexity, ambiguity, and uncertainty in which unpredictable, unstoppable and, sometimes, meaningless circumstances may have a direct impact on the expected outcomes. In this scenario, formal planning systems are criticized by a number of academics, who argue that conventional methods, based on classic analytical tools (market research, value chain analysis, assessment of rivals), fail to shape a strategy that can adjust to the changing market and enhance the competitiveness of each business unit, which is the basic principle of a competitive business strategy. Strategy planning systems are supposed to produce the best approac
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| dbo:abstract | Strategic planning and uncertainty intertwine in a realistic framework where companies and organizations are bounded to develop and compete in a world dominated by complexity, ambiguity, and uncertainty in which unpredictable, unstoppable and, sometimes, meaningless circumstances may have a direct impact on the expected outcomes. In this scenario, formal planning systems are criticized by a number of academics, who argue that conventional methods, based on classic analytical tools (market research, value chain analysis, assessment of rivals), fail to shape a strategy that can adjust to the changing market and enhance the competitiveness of each business unit, which is the basic principle of a competitive business strategy. Strategy planning systems are supposed to produce the best approaches to concretize long term objectives. However, since strategy deals with the upcoming future, the strategic context of an organization will always be uncertain, therefore the first choice an organisation has to make is when to act; acting now or when the uncertainty has been resolved. The recognition of uncertainty supposes a dilemma for strategists: in predicting the future they are likely to be wrong and may fall into overconfidence, but on the other hand they risk clouding rational foundations for decision making. Therefore, when building a strategy, it is vital to use analytic tools based on the level of uncertainty the organization is facing (decision analysis, scenario planning, alternative futures), this will enable the organization to identify the origin and the nature of the uncertainty and act upon it. (en) |
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| rdfs:comment | Strategic planning and uncertainty intertwine in a realistic framework where companies and organizations are bounded to develop and compete in a world dominated by complexity, ambiguity, and uncertainty in which unpredictable, unstoppable and, sometimes, meaningless circumstances may have a direct impact on the expected outcomes. In this scenario, formal planning systems are criticized by a number of academics, who argue that conventional methods, based on classic analytical tools (market research, value chain analysis, assessment of rivals), fail to shape a strategy that can adjust to the changing market and enhance the competitiveness of each business unit, which is the basic principle of a competitive business strategy. Strategy planning systems are supposed to produce the best approac (en) |
| rdfs:label | Strategy and uncertainty (en) |
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