Application of Complexity Science Perspective on New Business Development: A Case Study of VISA Organization

Complexity science perspective, covering many different disciplines, mainly describes the dynamic properties of a non-linear system. Due to the fast-changing environment and increasing emphasis on process research orientation, social sciences are trying to apply complexity science perspective in related studies. Based on this direction, new business development can be explored from complexity science perspective, because it is basically a social process with considerable complexity and dynamics. Therefore, this paper, from complexity science perspective, adopts process-oriented and longitudinal research method to analyze a successful business development case – VISA. Under the leadership of Dee Hock from 1968 to 1980, VISA had been developed as the leading brand of a worldwide value exchange system, connecting a number of banks, stores and consumers. The purpose of this paper is to interpret and analyze the process regarding to the participation and interaction of business agents and the emergence of new business, and to gain insights on management practices through the application of complexity science perspective. The research results show four strategic implications for new business development. First, far from equilibrium is the favorable external condition for a new Business. Second, attractor forming is the critical initial design to start a new business. Third, self-organization is the internal momentum to support new business development. Finally, emergence of macro-structure is the outcome of continuous development of a new business. The strategic implications include the full process of new business development from complexity science perspective and can be referred for future studies