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Effectuation Publications Library
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PREDICTION VS. CONTROL: A LONGITUDINAL STUDY OF PERFORMANCE IMPLICATIONS IN STRATEGIC DECISION MAKING UNDER UNCERTAINTY (INTERACTIVE PAPER)
2012
Philipp Tillmanns René Mauer
Entrepreneurial and corporate success is driven by creating unique competitive advantages. The process of strategy design is the crucial step in “matching” internal and external characteristics of the firm (Anderson & Paine, 1975). In an uncertain and dynamic environment, the choice of strategy design should be adapted according to the environment to achieve optimal performance (Selsky et al. 2007). Based on work by Sarasvathy (2001) on effectual entrepreneurs operating in highly uncertain environments Wiltbank, Dew and Read (2006) enhanced the strategy toolbox by clustering firm-level strategies along the dimensions of prediction and control.