Abstract
To avoid the risk posed by dynamic complexity, businesses must evolve their management practices so that dynamic complexity analysis becomes engrained in the decision process and management culture. This requires sponsorship and commitment at the executive level as well as a blue print for success. To help organizations use the principles outlined in this book to more accurately predict the future and take strategic actions to improve business outcomes, we propose the adoption of a new management science called Optimal Business Control (OBC). In this chapter we discuss and define the overall theory of OBC and provide examples of how businesses are applying this new management science to improve the predictability and agility of processes.
Always bear in mind that your own resolution to succeed is more important than any other one thing.
—Abraham Lincoln
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Notes
- 1.
See ‘Appendix A’ for further discussion on the use of thermodynamics in financial risk management.
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© 2014 Springer-Verlag Berlin Heidelberg
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Abu el Ata, N., Perks, M.J. (2014). Improving Business Outcomes with Optimal Business Control. In: Solving the Dynamic Complexity Dilemma. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-54310-4_18
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DOI: https://doi.org/10.1007/978-3-642-54310-4_18
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Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-54309-8
Online ISBN: 978-3-642-54310-4
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