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Managing complexity: Theory and practice

Complexity of the social, economic, technological, political, scientific and cultural aspects of the environment in which we grow, develop, live and work is increasing relentlessly. As a result we have been exposed to an unprecedented dynamics and uncertainty. Experimental evidence shows that complex situations cannot be adequately represented with deterministic models without loosing important, the so-called, emergent features. Therefore models of complex situations must be complex. The paper outlines fundamentals of the new science of complexity and how these fundamentals can be applied to solving complex business problems.