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Strategic Management for the 21st Century

Track: Business Strategy

Keywords: strategy, scenario planning, strategic management

Quantitative tools for Strategic Management became popular during the mid 20th century. While useful for short-term closed problems, they were found inadequate for strategic planning. Towards the end of the 20th century, qualitative approaches were introduced. While meeting with mixed success, they were instrumental in channeling innovation, creativity, and collaboration. The early years of the 21st century have been full of perils and uncertainty on many fronts including the global economy, terrorism, and environmental concerns. New rigorous hybrid approaches that build on numerous disciplines including economics, optimization, scenario planning and risk management and advancements in science and technology are needed.

Author(s):

Gerard Cleaves - gcleaves@fdu.edu
Fairleigh Dickinson University

 

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