Strategic Change in the Turbulent Digital Age
Change has become the norm in today’s business environments. As such business strategies must be dynamic and address the need to be developed under situations of high uncertainty. Business change can be driven by technology, demographics, new innovations, financial shifts, governmental intervention, or unforeseen crises. Firms must thrive in environments where the basis of competition is changing rapidly. Competing on knowledge is critical as firms must compete on their ability to create and profit from new ideas, and require them to be able to adapt quickly to new conditions.
In this course, we will begin to explore how successful managers can meet these challenges, and incorporate the ability to anticipate and respond to change into their business models and strategies successfully. Students will have the opportunity to explore these ideas in situations ranging from biotech firms to international banks to nightclubs. In this class, students will also have the opportunity to conduct a group project that explores in detail, issues concerning strategic action in turbulent situations.