Strategy and Economics

There are many ways to define strategy. Multitudinous perspectives fall into place when addressing a term used in nearly all realms of our life. We endeavor to focus exclusively on one of them, namely strategy from an economics and business administration perspective. We therefore provide an overview of the origins and main theoretical frameworks of strategy in economics and business administration, juxtapose them to the notions of strategy in a military context, unpack and address common ground, striking similarities and joint future avenues. A particular emphasis is put on uncertainty and how strategic thinking prevails in turbulent, uncertain, novel and ambiguous environments. Further, we showcase some non-military means of geo-economy and economic warfare, phenomena that gain increasing global importance. Finally, we come full circle by presenting trajectories for joint theoretical research and practical collaboration between economics and the military. Readers are equipped with references and suggestions for further in-depth readings.