Business Strategy: Managing Uncertainty Opportunity and Enterprise

About this book

What is strategy? For many it is the application of a theory model or framework. In this book Spender develops a different creative approach. Emphasizing that firms face uncertainties and unknowns (knowledge gaps) he argues that the core of strategic thinking and processes rests on the organizations leaders developing newly imagined solutions to the opportunities that these uncertainties open up. Drawing on a wide range of ideas from strategy economics entrepreneurship and philosophy he stresses the importance of judgment in strategy and argues that a key element of the entrepreneur and executives task is to engage chosen uncertainties develop a language to express and explain the firms particular business model for dealing with these and thus create innovation and value. At the same time he shows how the language the strategist creates to do this gives the firm identity and purpose and communicates this to its members stakeholders and customers. In an accessible and engaging style Spender introduces these ideas and reviews the strategy tools currently available from consultants and academics. Throughout he stresses the uncertainties or knowledge absences that pervade business and make effective strategizing both necessary and valuable. He outlines a structured practice that managers and consultants might chose to follow not a theory. With appendices on casework teaching strategy current strategy texts and further reading this book makes an important contribution to our understanding of the field and practice of strategy opening up new approaches for managers consultants strategy teachers and students.