In economics, as in all scientific disciplines, complexity refers to a situation in which the multitude and variety of interdependent factors create a burden of complexity, on the one hand, and also a potential for complexity on the other. In such poorly structured, high-risk, nontransparent and volatile situations, the task of management is to establish equilibrium between burden and potential. This is achieved by simplifying the complexity burden in a coordinated manner and by enhancing the human and technological potential for managing it. On a sound theoretical basis, this textbook illustrates the practical significance of balanced complexity management, with conceptual foundations and with applications in several areas of management.
Prof. Michael Reiss formerly taught organization at the University of Stuttgart and works as a science journalist.
