Knowledge and Strategy Formulation in a Turbulent World

Abstract

In this chapter, we focus on strategy formulation, i.e. the process of formulation of a strategy for a company. For strategists, an ideal world is that where this process can take place systematically and with no ambiguity or uncertainties: goals are decided, data are collected and analyzed, and final decisions are taken and, later, implemented. Therefore, the intrinsic presence of sources of uncertainty and turbulence affect the way strategy formulation can be approached consistently. In addition, the introduction of the notion of knowledge strategy poses new challenges. Can the notion of knowledge strategy be some help for strategists, or does it add new complications to strategy formulation? How can a knowledge strategy be formulated? Is knowledge strategy formulation somewhat special? And how is it related to that of a company strategy? These are the main questions we address in this chapter.