Book summary of Technology Strategy for Managers and Entrepreneurs

Book summary

Chapter 5:

In this chapter author discusses about Managing Uncertainty. According to the author strategic actions that can be take to manage uncertainty in the following way:

Seeking high enough returns to justify the cost of bearing it

Minimizing the magnitude of your investments in non non-salvageable assets by using generic inputs, starting on a small scale, and turning fixed assets in variable ones

Maintaining the flexibility to change strategic direction

Reallocating it to those parties more willing, or able, to bear it

Author defines that a decision-making tool in which a problem is broken down ...