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Stumbling Giants: The Emptiness, Fullness, and Recursiveness of Strategic Management


Günther Ortmann


Universität der Bundeswehr Hamburg

Hal Salzman


Rutgers University; The Urban Institute


Soziale Systeme: Zeitschrift Für Soziologische Theorie, Vol. 8, No. 2, pp. 205-230, 2002

Abstract:     
A rational decision is inherently paradoxical because its necessity goes hand-in-hand with its impossibility. Not only is our rationality bounded, as Herbert Simon has so convincingly shown, but we also must make decisions under conditions in which there are no rules by which we can make a decision - even if it be just a satisficing decision. We have to decide when we don't really know and cannot know how to decide.

This essential fact of decision making is ever the more true for strategic decisions which are, at their very core, about action under uncertainty and contingency. This paper discusses the recursive process through which corporate strategy, decision making, and restructuring occur.

Number of Pages in PDF File: 26

Keywords: Strategy, Decison, Corporate Restructuring

JEL Classification: L1, L2, A14

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Date posted: April 5, 2006  

Suggested Citation

Ortmann, Günther and Salzman, Hal, Stumbling Giants: The Emptiness, Fullness, and Recursiveness of Strategic Management. Soziale Systeme: Zeitschrift Für Soziologische Theorie, Vol. 8, No. 2, pp. 205-230, 2002 . Available at SSRN: http://ssrn.com/abstract=894334

Contact Information

Günther Ortmann
Universität der Bundeswehr Hamburg ( email )
Holstenhofweg 85
Hamburg, 22008
Germany
Hal Salzman (Contact Author)
Rutgers University ( email )
E.J. Bloustein School of Planning & Public Policy
J. J. Heldrich Center for Workforce Development
New Brunswick, NJ 08901
United States
HOME PAGE: http://policy.rutgers.edu/faculty/salzman/
The Urban Institute ( email )
2100 M Street, NW
Washington, DC 20037
United States
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