A Systems Thinking Approach to Corporate Strategy Development
In an increasingly complex business environment, companies need to reassess their strategic choices on a regular basis. However, companies are struggling to collect and efficiently interpret the relevant information on their business environment. Whereas market information is often analyzed, influen...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2019-03-01
|
| Series: | Systems |
| Subjects: | |
| Online Access: | http://www.mdpi.com/2079-8954/7/1/16 |
| _version_ | 1811308382715379712 |
|---|---|
| author | Marion A. Weissenberger-Eibl André Almeida Fanny Seus |
| author_facet | Marion A. Weissenberger-Eibl André Almeida Fanny Seus |
| author_sort | Marion A. Weissenberger-Eibl |
| collection | DOAJ |
| description | In an increasingly complex business environment, companies need to reassess their strategic choices on a regular basis. However, companies are struggling to collect and efficiently interpret the relevant information on their business environment. Whereas market information is often analyzed, influences from the broader environment (e.g., society) are often neglected. This paper argues that companies often lack a systemic approach to their strategy development process, and that environmental influences are only considered selectively. We suggest that companies themselves need to be seen as systems that are embedded in a complex environment. To develop a successful strategic orientation, a systematic screening of the environment must be coupled with a thorough analysis of the firm’s internal circumstances (e.g., competencies). Therefore, the paper proposes a holistic framework for conceiving companies as systems. Furthermore, we discuss how the scenario technique could support a systematic analysis of the company’s environment. The paper also aims to provide practical guidelines for managers and contributes to integrating a systems thinking approach into strategy development. |
| first_indexed | 2024-04-13T09:22:11Z |
| format | Article |
| id | doaj.art-7f57b49d18e04bac834559cb7da06b78 |
| institution | Directory Open Access Journal |
| issn | 2079-8954 |
| language | English |
| last_indexed | 2024-04-13T09:22:11Z |
| publishDate | 2019-03-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Systems |
| spelling | doaj.art-7f57b49d18e04bac834559cb7da06b782022-12-22T02:52:34ZengMDPI AGSystems2079-89542019-03-01711610.3390/systems7010016systems7010016A Systems Thinking Approach to Corporate Strategy DevelopmentMarion A. Weissenberger-Eibl0André Almeida1Fanny Seus2Department for Innovation and Technology Management (iTM), Institute for Entrepreneurship, Technology Management and Innovation, (EnTechnon), Karlsruhe Institute of Technology (KIT), Karlsruhe 76133, GermanyDepartment for Innovation and Technology Management (iTM), Institute for Entrepreneurship, Technology Management and Innovation, (EnTechnon), Karlsruhe Institute of Technology (KIT), Karlsruhe 76133, GermanyDepartment for Innovation and Technology Management (iTM), Institute for Entrepreneurship, Technology Management and Innovation, (EnTechnon), Karlsruhe Institute of Technology (KIT), Karlsruhe 76133, GermanyIn an increasingly complex business environment, companies need to reassess their strategic choices on a regular basis. However, companies are struggling to collect and efficiently interpret the relevant information on their business environment. Whereas market information is often analyzed, influences from the broader environment (e.g., society) are often neglected. This paper argues that companies often lack a systemic approach to their strategy development process, and that environmental influences are only considered selectively. We suggest that companies themselves need to be seen as systems that are embedded in a complex environment. To develop a successful strategic orientation, a systematic screening of the environment must be coupled with a thorough analysis of the firm’s internal circumstances (e.g., competencies). Therefore, the paper proposes a holistic framework for conceiving companies as systems. Furthermore, we discuss how the scenario technique could support a systematic analysis of the company’s environment. The paper also aims to provide practical guidelines for managers and contributes to integrating a systems thinking approach into strategy development.http://www.mdpi.com/2079-8954/7/1/16system theorystrategy developmentstrategic foresightscenario techniquecore competenciesstrategic management |
| spellingShingle | Marion A. Weissenberger-Eibl André Almeida Fanny Seus A Systems Thinking Approach to Corporate Strategy Development Systems system theory strategy development strategic foresight scenario technique core competencies strategic management |
| title | A Systems Thinking Approach to Corporate Strategy Development |
| title_full | A Systems Thinking Approach to Corporate Strategy Development |
| title_fullStr | A Systems Thinking Approach to Corporate Strategy Development |
| title_full_unstemmed | A Systems Thinking Approach to Corporate Strategy Development |
| title_short | A Systems Thinking Approach to Corporate Strategy Development |
| title_sort | systems thinking approach to corporate strategy development |
| topic | system theory strategy development strategic foresight scenario technique core competencies strategic management |
| url | http://www.mdpi.com/2079-8954/7/1/16 |
| work_keys_str_mv | AT marionaweissenbergereibl asystemsthinkingapproachtocorporatestrategydevelopment AT andrealmeida asystemsthinkingapproachtocorporatestrategydevelopment AT fannyseus asystemsthinkingapproachtocorporatestrategydevelopment AT marionaweissenbergereibl systemsthinkingapproachtocorporatestrategydevelopment AT andrealmeida systemsthinkingapproachtocorporatestrategydevelopment AT fannyseus systemsthinkingapproachtocorporatestrategydevelopment |