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A Systems Thinking Approach to Corporate Strategy Development

Weissenberger-Eibl, Marion; Almeida, André; Seus, Fanny

Abstract:
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.

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Verlagsausgabe §
DOI: 10.5445/IR/1000094562
Veröffentlicht am 14.05.2019
Originalveröffentlichung
DOI: 10.3390/systems7010016
Coverbild
Zugehörige Institution(en) am KIT Institut für Entrepreneurship, Technologie-Management und Innovation (ENTECHNON)
Publikationstyp Zeitschriftenaufsatz
Jahr 2019
Sprache Englisch
Identifikator ISSN: 2079-8954
KITopen-ID: 1000094562
Erschienen in Systems
Band 7
Heft 1
Seiten Article: 16
Bemerkung zur Veröffentlichung Gefördert durch den KIT-Publikationsfonds
Vorab online veröffentlicht am 12.03.2019
Schlagworte system theory; strategy development; strategic foresight; scenario technique; core competencies; strategic management
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