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| Crossing the River by Feeling the Stones：The New Interpretation of Strategic Management under Dynamic and Complex Environment |
| LAN Hailin，ZHANG Ming，SONG Tiebo |
| South China University of Technology, Guangzhou, China |
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Abstract Outstanding Chinese enterprise strategic managers tend to express their success of strategic management by “crossing the river by feeling the stones”. In terms of how to view this expression and interpret its connotation, obvious differences exist in the domestic academic circle of strategic management, which has led to the reflection on the context change and logical reconstruction of the strategic management theory. This paper argues that the preference of ‘crossing the river by feeling the stones’ by those strategic managers actually challenges the traditional strategic management theories dominated by rationalism, rather than the modern strategic management theories dominated by bounded rationalism, which demonstrates their strategic management practice in response to dynamic and complex environments is ahead of current theories. Furthermore, this paper uses bounded rational strategic management theories to analyze the strategic management practice of Chinese enterprises in the transition period, which can not only help us to reveal the practical value of ‘crossing the river by feeling the stones’ in response to the dynamic and complex environment, but also to solve the two major contradictions of logic system of modern strategic management theories. By this way, the Chinese strategic management scholar will make theoretical innovation based on Chinese context in the dynamic and complex environment to build the logic system of strategic management.
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Received: 24 October 2018
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