Uncertainty in Strategic Decision Making

Analysis, Categorization, Causation and Resolution

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Palgrave Macmillan


Paru le : 2024-01-03



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Description

Knight (1921) defines uncertainty as an informational market failure that, while being detrimental to most existing businesses, presents possible profitable opportunities for others. This book builds upon that classic work by providing an analysis of the alternative approaches to strategic decision-making under such uncertainty. It covers what uncertainty is, why it is important, and what connections it has to business and related fields, culminating in a new and comprehensive typology and a valuable guide for how to appropriately address various types of uncertainties, even under AI. It clarifies the current terminological and categorical confusion about ‘unknowns’ while complementing the mathematical, probability-based approaches that treat uncertainty as ‘knowable’ (i.e., as risk). It corrects the mistaken approaches that treat ‘unknowables’ as ‘shapeable’ or ‘discoverable’. This book widens the perspective for viewing uncertainty, in terms of its impacts across humanity, byoffering a shrewder understanding of what roles uncertainties play in human activity. It will appeal to academics across business, economics, philosophy, and other disciplines looking for approaches to apply, test, and hone for dealing with decision-making under uncertainty.




Pages
458 pages
Collection
n.c
Parution
2024-01-03
Marque
Palgrave Macmillan
EAN papier
9783031485527
EAN PDF
9783031485534

Informations sur l'ebook
Nombre pages copiables
4
Nombre pages imprimables
45
Taille du fichier
11510 Ko
Prix
147,69 €
EAN EPUB
9783031485534

Informations sur l'ebook
Nombre pages copiables
4
Nombre pages imprimables
45
Taille du fichier
4454 Ko
Prix
147,69 €

Richard J. Arend is the L.L. Bean/ Lee Surace Chair in Strategic Management at the University of Southern Maine, USA. He specializes in strategic decision-making under uncertainty and in the critical assessments of the current theories of strategy and of entrepreneurship. He has authored two previous books – one on building better theory and one on wicked entrepreneurship.

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