Solution-Do simple rules work well in crisis situations

Do simple rules work well in crisis situations

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Reference no: EM132808736

Question: According to Eisenhardt & Sull (2001), strategies should be made up of simple rules even in chaotic industries. The article summarizes the Simple Rules and outlines each type of rule.

What is the importance of following each of these rules and how will each impact the strategic direction of a company? Your company? The article further states that rules arise from experience and in some cases from mistakes.

Give an example of a company that could have implemented a simple rule from their mistakes. Do simple rules work well in crisis situations?

Attachment:- Strategy as Simple Rules.rar

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In this assignment we have discussed about strategy of forming simple rules within organizations to be effective in longer run of business. The value of adhering to specific rules is that it helps management to rule in unpredictably competitive markets. Managers lose emphasis on crucial functional activities as a result of rigid regular procedures. How-to rules, boundary rules, target rules, scheduling rules, and escape rules are all simple rules for volatile markets.

Reference no: EM132808736

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Do simple rules work well in crisis situations

Reference no: EM132808736

Reference no: EM132808736

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