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Advisor(s)
Abstract(s)
In this conceptual paper we suggest that a critical realist perspective alters
managerial views on prediction and strategy formation. For that purpose, we
review alternative notions of prediction in economic theory in the light of critical
realism. In addition, we review the role of prediction in alternative streams of
thought on strategy formation. The corollary of such a literature review is a new
conceptualisation of the organisational environment as an open system which is
not prone to prediction but can be a source of learning for strategists. Such
critical realist view alerts researchers and practitioners for the provisional nature
of scientific explanations and the dangers of premature prediction. Critical
realism is thus a promising avenue for further research on strategy formation
and more appropriate strategizing.
Description
Keywords
Critical realism Prediction Economic modelling Strategy formation
Pedagogical Context
Citation
MARTINS, Nuno Miguel Ornelas; MORAIS, Ricardo - The influence of critical realism on managerial prediction. Working papers: Management. N.º 2 (2015), 28 p.