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A NEW FRAMEWORK FOR CRISIS INTERVENTION BASED ON THE MIX BETWEEN DYNAMIC CAPABILITIES AND PORTFOLIOS OF REAL OPTIONS
Abstract
The aim of this paper is to extend the conventional decision-making process in crisis interventions by including rapid reconfigurations and elements of agility. The interest is to offer a strategic view that responds in a different dynamics to the real challenge of quickly adapting to unforeseen situations in order to mitigate the consequences. The importance of including theories from strategic management is justified by the possibility to create a new framework that includes both the rigueur of crisis interventions procedures, but also ingredients for agile reconfiguration inspired from the paradigm of dynamic capabilities. In this manner is possible to obtain a new framework with reduced uncertainty, equipped with indicators of the dynamics of the course of action (CoA) in crisis. The mixing of elements from systems engineering techniques with elements from strategic decision making, portfolio management and real options with stochastic ingredients could offer a new vision that offers a dynamic picture capable to support rapid predictions of the consequences of different course of actions.
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