Management practice in stable times is analogous to taking a journey. Objectives are set in the form of budgets and plans and intermediate points are specified at which measures of progress are taken. This is like following a map and recognising landmarks along the way.
However, in turbulent times the map becomes useless as the previously surveyed landscape begins to change in unpredictable ways.
The options facing managers are:
Few people are prepared to carry on into the unknown if they do not feel equipped or sufficiently flexible to adapt to a wide range of possible conditions.
A substantial ...