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Aligning for AdvantageCompetitive Strategies for the Political and Social Arenas$
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Thomas C. Lawton, Jonathan P. Doh, and Tazeeb Rajwani

Print publication date: 2014

Print ISBN-13: 9780199604746

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199604746.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 October 2021

Responding to Uncertainty *

Responding to Uncertainty *

(p.54) (p.55) 4 Responding to Uncertainty*
Aligning for Advantage

Thomas C. Lawton

Jonathan P. Doh

Tazeeb Rajwani

Oxford University Press

Chapter 4 explores several frameworks that classify and derive implications for nonmarket strategy. It begins by explicating the importance and dynamics of uncertainty and then describes and defines the different levels and types of policy and regulatory uncertainty in the political and social environment. It shows how companies can make the most of available options by building on research into strategy under uncertainty to classify different types of policy uncertainty and the strategies best tailored to those situations, including scenario planning, real options modeling, and others. The chapter also explores how uncertainties in international markets—particularly in emerging markets—present especially challenging situations. It draws upon diverse examples to reveal what works and what does not work when a business expands its geographic horizons.

Keywords:   uncertainty, scenario planning, real options modeling, emerging markets

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