The Conventional Wisdom in Strategy

Surja Datta () and Tobias Kutzewski ()
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Surja Datta: Oxford Brookes University
Tobias Kutzewski: VU Amsterdam

Chapter 3 in Strategic Optionality, 2023, pp 37-90 from Springer

Abstract: Abstract This chapter does the following things. First, we provide an overview of conventional strategy tools. Since the genesis of the discipline from the early 1900s, strategic management produced some frameworks with enduring popularity. We focus on these concepts and explain how they work. Second, we trace the evolution of these frameworks over time with the specific purpose of identifying their theoretical underpinnings. The main purpose of doing this is to make clear what these frameworks can and cannot do. Third, we identify the strengths and weaknesses of the frameworks. Using the FRL classification developed in Chap. 2, we show how these frameworks are useful in specific domain(s). As uncertainty is the key attribute that makes the domains different from each other, we stress-test how capable these frameworks are in coping with conditions of high uncertainty.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-17354-7_3

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DOI: 10.1007/978-3-031-17354-7_3

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