Strategy Making in a Crisis

Book excerpt: Michael Gibbert presents a thoughtful theoretical framework allowing readers to critically think about imaginations related to strategy making. His research is based on a highly complex case and diversified context allowing us to understand the use of different theories in an integrated way. Gilbert Probst, World Economic Forum, Geneva, Switzerland Putting imagination center stage in strategy making is a long overdue perspective, one that can renew the field. Michael Gibbert makes an important contribution through this integrative framing. Yves Doz, INSEAD, France If you can t imagine the future of your company, how are you supposed to shape it? This book helps appreciate and execute imaginative strategy making. Martin Hoegl, WHU Otto Beisheim Graduate School of Management, Germany Which strategy making approach works best in a crisis? In current literature, the recommendations oscillate between prediction, control, and practice, but this unique book focuses specifically on strategy making in a crisis. In a crisis, the business landscape is neither stable nor predictable, resources are scarce rather than abundant, customers disappear and shareholders revolt, all of which can make prediction and control very difficult. Drawing on evidence from philosophy, and on a multi-year case study of a major multinational, Michael Gibbert points to three different kinds of imaginations and proposes a three-step model for imaginative strategy making. Introducing new topics on this subject, Strategy Making in a Crisis will strongly appeal to top-level managers, including corporate development departments, and business-unit level strategy. Postgraduate students will also receive ideas for their own theses, not only from the content, but also from the approach which is deductive and integrates management theories using social science literature and methodology.