Managerial flexibility in different strategic management approaches
Journal Title: International Journal of Contemporary Management - Year 2012, Vol 11, Issue 2
Abstract
In a dynamic business environment the factors contributing to competitiveness do change. Growing uncertainty at both operational and strategic level makes managerial flexibility one of the key factors of company competitiveness. In a hypercompetitive environment projecting as well as implementation of sophisticated strategies appears to be less efficient than testing and probing of different options paralleled with quick disinvestment in case of wrong choices are made. To implement such a stance managerial flexibility is necessary. Strategic management schools take a different approach to the issue of flexibility. Resource-based view proponents practically do not make any references to the issue of flexibility. These issues are discussed to some extent under dynamic capabilities and knowledge-based management schools. For the proponents of the simple rules approach to strategic management managerial, flexibility is one of the key problems that need to be addressed. Finally, the problem of managerial flexibility is the underpinning of the real options analysis. The article presents the interpretation of managerial flexibility in options approach against the background of selected schools of strategic management
Authors and Affiliations
Włodzimierz Rudny
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