Managing in Dynamic, Complex and Unpredictable Business Contexts

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Abstract

The environmental exposures to humankind have increased in number and intensity over past decades introducing the possibility of extreme incidents with irreversible impacts on business and society. The global integration of business and cross-border financial flows supported by digital technology increase the complexity and uncertainty of the business environment. In this context, the behaviors of individual players are interdependent with potentially nonlinear and unpredictable outcomes ascribed to complex wicked problems. As a consequence, organizational decision-makers may pursue false objectives from misinformed causation where stringent score-card controls will exacerbate the problems. The resolution to wicked problems requires cross-functional and collective interactions supported by a collaborative corporate mindset. The conventional control-based management practices fall short in dealing with disruptive developments where value-based stakeholder collaboration can provide resilient responses to unexpected abrupt events.
Original languageEnglish
Title of host publicationAdapting to Environmental Challenges : New Research in Strategy and International Business
EditorsTorben Juul Andersen, Simon Sunn Torp
Number of pages17
Place of PublicationBingley
PublisherEmerald Group Publishing
Publication date2020
Pages1-17
Chapter1
ISBN (Print)9781839824777
ISBN (Electronic)9781839824760, 9781839824784
DOIs
Publication statusPublished - 2020
Series Emerald Studies in Global Strategic Responsiveness

Keywords

  • Ambidexterity
  • Business continuity planning
  • Insurance
  • Resilience
  • Uncertainty
  • Wicked problems

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