This book offers a fresh approach to strategy by examining the idea of Optionality. Optionality is the right, but not the obligation, to take an action. Built on historic military tactics, static engineering principles, and equilibrium-seeking economics, conventional strategic-thinking suffers some weaknesses, principal of which is its inability to deal with conditions of high uncertainty. This book begins by dividing the business landscape into three distinct domains; (1) Fragile, (2) Robust, and (3) Long-shot (FRL), which alert us to the context-specificity of strategy tools, before suggesting that theoretical lenses are required to understand and implement strategy in VUCA (Volatile, Uncertain, Complex, and Ambiguous) domains. The authors explore the concept and methodology of Optionality in order to demonstrate how it can be used in conjunction with existing strategy tools in order to achieve competitive success. It will be of great interest to academics and students of strategyand innovation.
Chapter 1: Introduction.- Chapter 2: The Business Landscape: Unpacking the idea of domain specificity.- Chapter 3: The Conventional Wisdom in Strategy.- Chapter 4: Strategic Optionality: Introducing the Idea.- Chapter 5: Optionality and Innovation: Two sides of the Same Coin?.- Chapter 6: Competitive Success: Competing across FRL Domains.- Chapter 7: Optionality: The method.- Chapter 8: Conclusion.
Surja Datta is a Senior Lecturer, and Module Leader of Global Strategy and Innovation, a core module of Brookes Global MBA Programme at Oxford Brookes University, UK. He has published extensively, including books, chapters, and journal articles. His research interests include business history, innovation, and strategy. Surja is also the Associate Editor of International Journal of Technology MlĂ*
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