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How Strategic Management Drives Sustainable Innovation and Maximize Firm Value

Two decades ago, strategy was considered an important ingredient in managing innovation. During that time, the scope of innovation in terms of value creation and hence competitive advantage used to be narrowly defined, because it used to focus on customers’ specific requirements and market demand. Today, the scope of strategic management and innovation has widened […]

Combining Scenarios and Real Options to Address Uncertainty in Strategy Formulation

The 21st century business environment has even become more turbulent and uncertain, and therefore unpredictable. Every firm deals with uncertainty in its lifecycle. Uncertainty impedes the ability of management to make strategic decisions. There are many sources of uncertainty, but the most important ones are related to the firm’s external environment and black swan events. […]