<p><span>Knight (1921) defines uncertainty as an informational market failure that, while being detrimental to most existing businesses, presents possible profitable opportunities for others. This book builds upon that classic work by providing an analysis of the alternative approaches to strategic
Uncertainty and Strategic Decision Making
โ Scribed by Kristian J. Sund; Robert J. Galavan; Anne Sigismund Huff
- Publisher
- Emerald Publishing Limited
- Year
- 2016
- Tongue
- English
- Leaves
- 242
- Series
- New Horizons in Managerial and Organizational Cognition Series
- Edition
- 1
- Category
- Library
No coin nor oath required. For personal study only.
โฆ Synopsis
The study of management and organization has transitioned from approaches to deal with steady state management, to approaches that can cope with unknown or unknowable futures. The strategy field has has moved from business policy, through strategic planning, onto strategic management and now grapples with dynamic contexts as the new normal. In that trend the field has seen a broad movement in research interests in corporate and competitive strategies towards an emphasis on the manager's strategic role. Through this shift, strategy has moved from a concept of something organizations have towards something that managers do. This has happened while traditional boundaries of industries have become permeable and even melted away. Managers tasked with doing strategy have lost not just the certainty of a goal-oriented future, but also the certainty of understanding their current position. Decision-making tools have now moved from answer generators to scenario builders. When decisions can rely less on evidence and certainty, it is managers that take up the slack and fill the void. This book focuses on the challenge of making strategic decisions in conditions of uncertainty.
โฆ Subjects
Decision making.; BUS063000; EDU008000; NON000000
๐ SIMILAR VOLUMES
<p>Uncertainty in Entrepreneurial Decision Making fills an existing gap in understanding three key concepts of business management: entrepreneurship, uncertainty, and strategy.</p>
Overview: The aim of this book is to quickly empower you to make better decisions by giving you step-by-step explanations of the best techniques.
Provides undergraduates in surveying and property professionals with a clear practical explanation of the various management techniques to improve their property development decisions.
<p>In the ideal world, major decisions would be made based on complete and reliable information available to the decision maker. We live in a world of uncertainties, and decisions must be made from information which may be incomplete and may contain uncertainty. The key mathematical question address