Robust Adaptive Strategies by Beinhocker

18 02 2010

“An adaptive population of strategies keeps an array of options open over time, minimizing long-term and irreversible commitments.”

Is it beneficial to have several strategies at one time instead of focusing the organization on one strategy at a time?

Whether you realize it or not, we can answer this question by watching a basketball game.

Robust adaptive strategies create "flexibility and a higher probability of success."

 Teams always have several different plays (robust adaptive strategies) that they use at the appropriate time to achieve the best results.  These plays help the team work together towards a main goal, but the players need to be at ease with “rapid change” and know how to navigate under uncertainty on the court.

Just like basketball players, we need to have a population of strategies that are based on the core competencies of the organization to achieve a competitive advantage.  However, companies can not afford to do everything, so they need to have a handful of the best strategies to capitalize on with their available resources.

The article also stated that we can not rely on our predictions, so we need to focus more on the power of evolution.  This statement is informing us about the benefit of leaving some strategies open and letting them evolve into a strategy that is innovative in order to maintain an advantage in the industry.  Even though basketball players have set plays they can adapt to different circumstances and create a new play that was unexpected by the other team.  We need to replicate this practice by adapting to the competition and new situations that occur in the business environment.

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One response

18 02 2010
Dan

GO LEBRON JAMES!

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