Entrepreneurial articles - Wiltbank et al.: What to do next? The case for non-predictive strategy
10 important questions on Entrepreneurial articles - Wiltbank et al.: What to do next? The case for non-predictive strategy
Among the most difficult challenges in business is creating strategy for the future of an organization that is doing well: how can a firm know what to do next? Name 3 common possibilities: (Wiltbank)
Describe the global differences in prediction and adaptation (Wiltbank)
Organizations should try harder to predict better (rational strategies advocating by the planning school). Of move faster to adapt better (adaptive strategies espoused by the learning school). What are the key characteristics and the key differences of both strategies? (Wiltbank)
-The difference is primarily how they cope with that given uncertainty.
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What is the approach suiting high prediction and low control? (Wiltbank)
What is the approach suiting low prediction and low control? (Wiltbank)
What are the disadvantages of planning? (Wiltbank)
How can planning and adaption be combined? (Wiltbank)
What is the approach suiting high prediction and high control? (Wiltbank)
What is the approach suiting low prediction and high control? (Wiltbank)
In sum: predictive strategies are ways to manipulate current realities to reach preselected goals. Adaptive strategies are ways to map resources onto (naar) given environments. Transformative strategies generate new goals and new environments from current realities. Reconceptualizing prediction and control as independent suggests new relationships beteween strategy making and.... (name 5) (Wiltbank)
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