Essential Books to Learn about Adapting the Firm’s Strategy to the External Environment; Getting Started

Peter Lorange and Karin Mugnaini
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Peter Lorange: IMD
Karin Mugnaini: IMD

Chapter 8 in The Future-Ready Leader, 2023, pp 51-83 from Springer

Abstract: Abstract The author makes the distinction between tight ways of managing and controlling in contrast to loose approaches. This could be applied to corporations (Daimler, Chrysler, Mitsibushi—tight, versus Microsoft—loose), as well as to countries (Germany—tight; France—loose) or even to regions (California—loose; Texas—tight). The author develops this distinction further, to distinguish between flexible tightness and structured looseness. There seem to be at least three classes of issues that could determine which side of this tradeoff to settle on: norms and preferences applying to oneself: am I cautious, controllable or rather adventurous and impulsive, and do I prefer good order or do I prefer less structure and more tolerance for ambiguity. For businesses that operate internationally in particular, to run operations relatively decentralized so that each country might be allowed to run itself in a fairly tight way, while other countries in the same firm may be run relatively loosely.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-45090-7_8

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DOI: 10.1007/978-3-031-45090-7_8

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