The dual importance of centrally induced strategic intent and the ability to engage in autonomous strategic initiatives has been demonstrated in both qualitative and quantitative empirical studies over the past decades. However, the particular mechanisms required to facilitate the interaction...

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...

The global business context is turbulent and becoming a dynamic complex system where small events can trigger large outcomes that are difficult to predict. This gives urgency to the search for responsive global organizations that are able to adapt the multinational corporate strategy so it...

This chapter contends that the international business (IB) and strategic management (SM) fields have many commonalities that should be considered in a turbulent globalized business context. IB studies refer to the need for local integration and local adaptation whereas empirics in SM pinpoint...

The world in which companies operate today is volatile, uncertain, complex, and ambiguous, thus subjecting contemporary forms to an array of risks that challenge their viability in an increasingly competitive landscape. Organizations that cling to their traditional ways of operating impede their...

All firms operating in the global economy are exposed to a multitude of risks including financial crisis, cyberattack, social instability, governance failure, extreme weather events, etc. As a consequence, international organizations assume many (new and evolving) exposures that must be...

This study of a market-leader in a turbulent hostile telecommunications market uncovers how the competitive context influences strategy-making and cultivates central control that opposes autonomous initiatives. It shows how a highly competitive industry context reduces organizational slack that...

The author introduces a strategic responsiveness model that reflects an organization’s ability to sense environmental changes and learn from emergent adaptive responses that attempt to realign organizational activities and gain a better fit with the changing conditions. The author shows in...

Contemporary organizations with multinational business activities must strive to achieve strategic responsiveness to thrive and survive as they operate across a highly dynamic and complex global business environment. Here we emphasize the importance of combining the slow analytical strategy...

This first chapter argues that turbulent environments require adaptive strategy for survival and continued prosperity and thereby introduces the attempts to determine effective response capabilities in contemporary firms, which are presented in the ensuing chapters. The background in prior...