Abstract:
The new approach to economics has important implications for management, and in particular for strategy and organization. Although it is still in its infancy, we can begin to see how it might help us gain fresh insights into a host of diƒficult questions. Why do industries that look stable suddenly get turned upside down? How can companies develop strategies in the face of uncertainty? Why are big companies that seem to have it all so oƒten vulnerable to attack by small upstarts?
Citation:
Beinhocker, E. (1997). 'Strategy at the Edge of Chaos'. The McKinsey Quarterly, 1(1), pp.24-39.