Planning under uncertainty using chess principles, strategies and tactics

Abstract

The uncertainty and volatility of oil prices and the rise of political uncertainty in the Middle East Region have shifted the ground beneath the Gulf Cooperation Council (GCC) economies in recent years. The traditional planning methods are strategically blind and inherently short sighted when used by firms under uncertainty. This study provides concepts, analytic tools, and examples of the four levels of uncertainty. The study draws a parallel between the uncertainty in chess game and business and tailored chess principles, processes, strategies and tactics to be used by businesses under uncertainty situations. This study contributes to current knowledge of using chess as metaphor to describe business, finding a connection to the dynamics of chess given the use of its principles, strategy and tactics.