Strategy techniques for the times of high uncertainty

Igor Gurkov

Journal of East European Management Studies, 2010, vol. 15, issue 2, 177-186

Abstract: This paper sets out to propose the techniques that enable corporations to develop and to implement robust strategies under conditions of severe uncertainty. Through the correction of the traditional definition of stakeholders I found the general algorithm for achieving robustness in corporate strategies. This algorithm includes: (1) the clear definition of a limited set of the types of stakeholders, (2) the simplification of the sets of stakeholders’ claims and discovery of intrinsic benefits common for all stakeholders of a particular type, (3) defining the space of acceptance of corporate performance for each type of stakeholders, (4) finding a non-empty intersection of such spaces for all types of stakeholders.The use of these techniques is illustrated by the new strategy of LUKOIL – one of the major publicly traded oil companies.

Keywords: corporate strategies; uncertainty; robustness; strategic planning (search for similar items in EconPapers)
JEL-codes: J53 M10 M12 P12 P31 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (3)

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