- Subject index
The Handbook of 21st Century Management provides authoritative insight into the key issues for students in college or corporate courses with a particular emphasis on the current structure of the topic in the literature, key threads of discussion and research on the topic, and emerging trends. This resource is useful in structuring exciting and meaningful papers and presentations and assists readers in deciding on management areas to take elective coursework in or to orient themselves towards for a career. Indeed, familiarity with many of the topics in this Handbook would be very useful in job interviews for positions in business.
Chapter 29: Strategic Decisions in High-Velocity Contexts
Strategic Decisions in High-Velocity Contexts
One of the main challenges for managers in the 21st century is the correct identification and exploitation of business opportunities in the face of “high velocity” such as rapidly changing market conditions. This challenge is particularly crucial in “blockbuster” economies, where relatively low earnings typically follow very high levels of upfront investments, and where only a handful of economic actors capture the most returns in clear “winners take all” environments. Thus, in the pharmaceutical sector, drug discovery is often frustratingly unsuccessful due to tedious developmental, market or regulatory complexities, and very few products eventually take to market and prove profitable (Stonebraker, 2002). Similarly, oil companies never know for sure whether a well will contain oil, and ...