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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. […]

Managing Unknown Unknowns in Innovation

The external environment of emerging and technology-based industries will tend to be more uncertain as the world moves further into the twenty-first century. Any changes in an innovation firm’s external environment that are driven by the forces of technology, economics, and other influences impede the ability of strategic managers to make strategic decisions to keep […]