This article is an orphan, as no other articles link to it. Please introduce links to this page from related articles; try the Find link tool for suggestions. (June 2017)
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.[1] 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),[2] fail to shape a strategy that can adjust to the changing market[3] 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.[4]
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.[5] 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),[2] this will enable the organization to identify the origin and the nature of the uncertainty and act upon it.[6]
^Hill, Charles; Jones, Gareth (2010). Strategic Management Theory. Canada: Erin Joyner. p. 31. ISBN 978-1-133-48570-4.
^ abCourtney, Hugh; Kirkland, Jane; Vigueri, Patrick (1997). "Strategy Under Uncertainty" (PDF). Harvard Business Review. 75 (6): 66–79. PMID 10174798.[permanent dead link]
^John, Dix. "THE PROCESS OF STRATEGIC PLANNING" (PDF). Business Development Index, LTD. And the Ohio State University: 1.[permanent dead link]
^Mintzberg, Henry (1994). "The Fall and Rise of Strategic Planning". Harvard Business Review: 107.[dead link]
^Fitzsimmons, Michael (2010). "The Problem of Uncertainty in Strategic Planning". Survival:Global Politics and Strategy. 48 (4): 131–146. doi:10.1080/00396330601062808. S2CID 154819548.
Strategic planning anduncertainty intertwine in a realistic framework where companies and organizations are bounded to develop and compete in a world...
alternatives. Henderson wrote that strategy was valuable because of: "finite resources, uncertainty about an adversary's capability and intentions; the irreversible...
re-evaluation of what useful decision-making requires. The area of choice under uncertainty represents the heart of decision theory. Known from the 17th century...
The uncertainty reduction theory, also known as initial interaction theory, developed in 1975 by Charles Berger and Richard Calabrese, is a communication...
of uncertainty (or propagation of error) is the effect of variables' uncertainties (or errors, more specifically random errors) on the uncertainty of...
of strategic management and organizational studies. It draws from research in the natural sciences that examines uncertaintyand non-linearity. Complexity...
Warren Bennis and Burt Nanus, to describe or to reflect on the volatility, uncertainty, complexity and ambiguity of general conditions and situations. The...
areas included: StrategyandUncertainty, Leadership and Organization, Innovation, Economic Development, Marketing Pricing and Sales, and Social Action...
Krieges) is the uncertainty in situational awareness experienced by participants in military operations. The term seeks to capture the uncertainty regarding...
ambiguity (also known as a policy of strategic ambiguity or strategic uncertainty) is the practice by a government or non-state actor of being deliberately...
Opportunity cost; Risk and Style. Classic strategy thinking, and vision have some limitations in a turbulent environment anduncertainty. The limitations relate...
5000 years back, to the Indus Valley Civilization. While there is some uncertainty, the prevailing view among chess historians is that it is the common...
developed in an attempt to define uncertainty, identify its effects and establish strategies for managing it. Uncertainty management theory was the first...
an inflexible strategy regardless of how the future might unfold. It is this commitment to uncertainty that is the cause of "the strategy paradox." National...
former option trader, risk analyst, and aphorist. His work concerns problems of randomness, probability, anduncertainty. Taleb is the author of the Incerto...
A chief strategy officer (CSO) is an executive that usually reports to the CEO and has primary responsibility for strategy formulation and management,...
terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something...
Litigation strategy is the process by which counsel for one party to a lawsuit intends to integrate their actions with anticipated events and reactions...
Cooperative Strategy refers to a planning strategy in which two or more firms work together in order to achieve a common objective. Several companies apply...
In decision theory and economics, ambiguity aversion (also known as uncertainty aversion) is a preference for known risks over unknown risks. An ambiguity-averse...
more complex games and to general decision-making in the presence of uncertainty. The maximin value is the highest value that the player can be sure to...
list of military strategiesand concepts that are commonly recognized and referenced. Military strategies are methods of arranging and maneuvering large...
practice is uncertainty analysis, which has a greater focus on uncertainty quantification and propagation of uncertainty; ideally, uncertaintyand sensitivity...
plan A test strategy is an outline that describes the testing approach of the software development cycle. The purpose of a test strategy is to provide...
Global Information