Strategizing Before Strategic Decision Making

Jackson Nickerson () and Nicholas Argyres ()
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Jackson Nickerson: Olin Business School, Washington University in St. Louis, St. Louis, Missouri 63130
Nicholas Argyres: Olin Business School, Washington University in St. Louis, St. Louis, Missouri 63130

Strategy Science, 2018, vol. 3, issue 4, 592-605

Abstract: Processes of strategic problem formulation are not only core to strategic decision making, but may be paramount. Indeed, one cannot even assess whether a situation is strategic until the problem has been formulated. To illustrate the importance of problem formulation, we present a case study, and after highlighting key features, explore several ways in which the case’s problem could be formulated. These alternative formulations highlight how strategic decision premises can dramatically affect decision making. Problem formulation, we next advance, is intimately related to the development of theories or conjectures, especially at the group level. We therefore propose that strategizing processes are appropriately understood as vital mechanisms that can be normatively designed, taught, and used in a practical way. No single formulation process is appropriate for all situations, we note, as effective and efficient formulation processes depend on a variety of organizational and situational factors. An additional consideration arises with respect to how the problem formulation process may yield profound implications not only for developing alternative strategies and making the strategic decision, but also for implementing these decisions. Based on these insights, we describe potential research opportunities and ways to enhance teaching to advance the theory and practice of strategizing.

Keywords: problem formulation; strategic decision making; strategy process (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:orstsc:v:3:y:2018:i:4:p:592-605

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