This study evaluates the relevance of contingency under ontological and modal logical aspects for strategic corporate management. To emphasize the relevance of this approach, current conditions in economy, society and science are described in a context which leads to the problem statement. The meaning, purpose and structure of strategic corporate management is shown to provide an overview of the key elements that are relevant for this study. In this context, the contingency approach is differentiated from the well-known situational approach (contingency approach), that was developed in the 60s of the 20th century by British and American scientists.
The more general meaning of contingency is analyzed under ontological aspects by using the essential core of Richard Rorty's theoretical approach on contingency which leads to the most relevant factors: luck and serendipity. The theoretical and fundamental significance of this evidence for strategic corporate management is subsequently shown by two empirical examples. This practical view provides the contextual relevance and shows why the approach and statement of this study can be considered as the most relevant for the first major success and economic breakthrough of the chosen examples: Facebook Inc. and Google Inc. A conclusion finally recommends awareness to consider contingency in strategic findings under the premises of strategic foresight.
Table of Contents
- Introduction and Problem Statement
- Approach and Objectives
- Strategic Corporate Management and the Theory of Contingency
- The Nature of Strategic Management
- Contingency and Strategy
- Empirical Examples
- Conclusion
Objectives and Key Themes
This study investigates the significance of contingency, under ontological and modal logical aspects, for strategic corporate management. The research draws on established textbooks and scientific papers to provide an overview of strategic corporate management and its key elements. The study differentiates the contingency approach from the situational approach, developed in the 1960s. It explores the broader meaning of contingency and its theoretical implications for strategic management. Finally, the study examines the contextual relevance of contingency by analyzing empirical examples of recent economic success stories.
- The relevance of contingency in strategic corporate management
- The differentiation between contingency and situational approaches
- The theoretical significance of contingency for strategic management
- Empirical examples of contingency in successful economic enterprises
- The role of luck and serendipity in strategic success
Chapter Summaries
- Introduction and Problem Statement: This chapter sets the stage by highlighting the role of luck in success and how it's often overlooked in traditional approaches to strategic management. It questions traditional methods that rely heavily on deterministic frameworks and emphasizes the need for a more nuanced understanding of contingency.
- Approach and Objectives: This chapter outlines the research methodology, which focuses on evaluating the relevance of contingency for strategic corporate management. It differentiates contingency from the situational approach and highlights the importance of exploring the theoretical and practical implications of contingency.
- Strategic Corporate Management and the Theory of Contingency: This chapter delves into the nature of strategic management, highlighting the importance of considering environmental factors and the role of contingencies. The chapter discusses how the contingency approach can contribute to a more comprehensive understanding of strategic decision-making.
- Empirical Examples: This chapter examines the success stories of Facebook and Google, showcasing how contingency played a crucial role in their early stages. It provides concrete examples of how unexpected events and circumstances influenced their growth and ultimately contributed to their success.
Keywords
This study focuses on the concepts of contingency, strategic corporate management, situational approach, luck, serendipity, and their relevance in understanding the success of businesses like Facebook and Google. The research emphasizes the importance of incorporating contingency in strategic foresight and decision-making.
- Quote paper
- Heiko Schmolke (Author), 2015, Contingency of Strategic Corporate Management, Munich, GRIN Verlag, https://www.grin.com/document/469317
