The concept of improvisation, while now recognized in organization studies, has been neglected in strategy studies. We suggest that one of the reasons for this is the dominance of a structural view of strategy and competition. Alternative views, such as the Austrian school or those that stress the Red Queen effect, emphasize the process-based nature of competition. In fast-changing environments, speed and reaction are central attributes, which render the traditional separation between planning and execution untenable. In these contexts, improvisation, the convergence of planning and execution, becomes a paradoxical form of "real time foresight": organizations screen trends, spot opportunities, actively wait and/or act with speed to seize the moment.
- Fast changing environments