Title: How innovation and entrepreneurship can conquer uncertainty and complexity: learning about the unexpected

Authors: Carl Henning Reschke, Dieter Bogenhold, Sascha Kraus

Addresses: Institute for Management Research Cologne, Mainzer Str. 80, 50678 Cologne, Germany. ' Free University of Bozen/Bolzana, School of Economics and Management, Via Sernesi 1, 39100 Bolzano, Italy. ' University of Liechtenstein, Furst-Franz-Josef-Strasse, LI-9490 Vaduz, Liechtenstein

Abstract: In recent times, it has become obvious that linear models of the world in general and management in particular do not carry as far as we expected them to. However, the question of how we can find a clue how to deal with a world that is a complex aggregation of evolving interactions is still unanswered. Much of what was seen as real, machine-like, determined and objective seems to be unpredictable, indefinable and subjective since the middle of the last century. The knowledge required for identifying the best alternative is beyond the possibilities of actors. Thus dealing with uncertainty, complexity and the search for novelty are becoming increasingly important. Strategic management science provides a suitable tool for constructing aisles of knowledge into the forest of uncertainty: strategic planning. We argue that one possible key to make the future manageable despite its overwhelming complexity might be to typify future developments based on experiences form past and present. In this way, economic actors may drive corridors of future development into the unknown dark of the future.

Keywords: learning; complexity; uncertainty; strategic entrepreneurship; strategic planning; small business; SMEs; small and medium-sized enterprises; new ventures; innovation; strategic management science.

DOI: 10.1504/IJCLM.2010.035789

International Journal of Complexity in Leadership and Management, 2010 Vol.1 No.1, pp.55 - 71

Published online: 04 Oct 2010 *

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