Contingency of Strategic Corporate Management

Seminar paper from the year 2015 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, University of Applied Sciences Berlin (Business & Management), language: English, abstract: This study evaluates the relevance of contingency under ontological and modal logical aspects for strategic corporate management. To emphasize the relevance of this approach, current conditions in economy, society and science are described in a context which leads to the problem statement. The meaning, purpose and structure of strategic corporate management is shown to provide an overview of the key elements that are relevant for this study. In this context, the contingency approach is differentiated from the well-known situational approach (contingency approach), that was developed in the 60s of the 20th century by British and American scientists. The more general meaning of contingency is analyzed under ontological aspects by using the essential core of Richard Rorty's theoretical approach on contingency which leads to the most relevant factors: luck and serendipity. The theoretical and fundamental significance of this evidence for strategic corporate management is subsequently shown by two empirical examples. This practical view provides the contextual relevance and shows why the approach and statement of this study can be considered as the most relevant for the first major success and economic breakthrough of the chosen examples: Facebook Inc. and Google Inc. A conclusion finally recommends awareness to consider contingency in strategic findings under the premises of strategic foresight.