Evolutionary Approaches to Strategy

Conversely, it is clear that the “ideal of economic human being” has not occupied business. The managers of an organization also do not have a proper idea about the marginal cost of the organization and revenue curves of their organization so they fail to maximizes the levels in setting the output where the marginal revenue is equal to the marginal costs at the “theoretically profit maximizing level”. The inefficiency and inadequacy in an organization can be removed by competition.

If an organization wants to survive its position in the business market it should be effective and efficient in all the perspectives and so competition can make an organization smart and strong. Even the adaption is absent in the organization so the organization must be maintained in the business market competition to assure its healthiness . So the managers and strategists who develop a strategy will stick to the competition in an evolutionary point of view and then adapt to the environment in their activities. So according to certain environments, the strategies are selected by the markets but not by the managers in this sight of the situation.

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