Evolutionary Concepts and Business Strategy

Ewa Stańczyk-Hugiet
(Wrocław University of Economics, Poland)

Abstract: Evolutionary economics is a promising economic theory, particularly from the viewpoint of strategic management. Since adoption of evolutionary mechanisms in the task of explaining problems of strategic nature is not self-evident, this paper presents arguments for employing the evolutionary paradigm in the area of strategic management. A model of normative strategies is presented, in the context of conditions accompanying weak and strong emergence. The results indicate that, in the face of strong emergence, organizations should foster more adaptive behaviours.

Key words: emergence; adaptation; strategy; evolution

JEL codes: B52, L