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Strategy and organizational evolution

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  • Herbert A. Simon

Abstract

A business firm's ‘niche’ or comparative advantage typically has a half‐life of years rather than decades. Strategic planning must assure a stream of new ideas that allow the firm to find new sources of comparative advantage. Strategic planning must focus attention on the initial stages of the decision‐making processes—opportunities and occasions for choice, and the design of new action strategies for products, marketing, and financing. Product identification and alternative generation are crucial components of strategy. Strategic thinking must permeate the entire organization. Effective identification of employees with the organization's strategy requires their exposure to the basic postulates that underlie strategic plans.

Suggested Citation

  • Herbert A. Simon, 1993. "Strategy and organizational evolution," Strategic Management Journal, Wiley Blackwell, vol. 14(S2), pages 131-142, December.
    • Handle: RePEc:bla:stratm:v:14:y:1993:i:s2:p:131-142
    DOI: 10.1002/smj.4250141011
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    References listed on IDEAS

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    1. Richard R. Nelson, 1991. "Why do firms differ, and how does it matter?," Strategic Management Journal, Wiley Blackwell, vol. 12(S2), pages 61-74, December.
    2. Richard P. Rumelt & Dan Schendel & David J. Teece, 1991. "Strategic management and economics," Strategic Management Journal, Wiley Blackwell, vol. 12(S2), pages 5-29, December.
    3. Herbert A. Simon, 1991. "Organizations and Markets," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 25-44, Spring.
    4. Alfred D. Chandler, 1991. "The functions of the HQ unit in the multibusiness firm," Strategic Management Journal, Wiley Blackwell, vol. 12(S2), pages 31-50, December.
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