Introduction

Claudio Gomez Portaleoni, Svetla Marinova, Rehan ul-Haq and Marin Marinov
Additional contact information
Claudio Gomez Portaleoni: Siemens
Svetla Marinova: Aalborg University
Rehan ul-Haq: University of Birmingham
Marin Marinov: University of Gloucestershire

A chapter in Corporate Foresight and Strategic Decisions, 2013, pp 1-5 from Palgrave Macmillan

Abstract: Abstract Business strategy is about the long-term direction of an organization, gaining competitive advantages in rapidly changing interconnected environments, building on resources and competences, and considering the values and expectations of stakeholders. Moreover, strategy explicitly deals with decisions which are made in an integrated way — both inside and outside the organization — and with uncertain situations (Mintzberg, 1989; Johnson, Scholes and Whittington, 2008). In order to successfully cope with challenging situations, Hamel and Prahalad (1994) argue that organizations have to develop an independent view of the future to allow opportunities to emerge. The authors further emphasize that today’s strategic management has to break paths instead of benchmarking with the competition. In their conclusion, Hamel and Prahalad stress the importance of management’s need to unlearn the past in order to successfully deal with future opportunities.

Keywords: Strategic Management; Strategic Decision; Independent View; Strategic Management Literature; Information Processing Perspective (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-32697-3_1

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DOI: 10.1057/9781137326973_1

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