Innovation, Dynamic Capabilities, and Leadership

What is it about?

The world in which today’s businesses operate has become not only riskier but also more volatile, uncertain, complex, and ambiguous (VUCA). Organizations that hew too closely to traditional ways of operating will be hampered in their ability to succeed. In contrast, those that focus on new product and process developments coupled with business model innovation will leverage their dynamic capabilities. An essential overlay is entrepreneurial leadership from top management teams. Strong dynamic capabilities are impossible without it. We examine how business model innovations, dynamic capabilities, and strategic leadership intertwine to help organizations thrive in VUCA worlds.

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Why is it important?

------------------------------------------------------- Contribution to Academic Scholarship ------------------------------------------------------- We develop a model for strategic management under uncertainty integrating three theoretical perspectives: business model innovation, dynamic capabilities, and strategic leadership. ------------------------------------------------------- Contribution to Management Practice ------------------------------------------------------- We discuss what organizations must do well to thrive under volatile conditions in terms of decision making, building new capabilities and strategic leadership. ---------------------------- Author Perspective ---------------------------- Although many good management concepts exist to handle unpredictable uncertainty, as opposed to quantifiable risk, there is still a lack of integrated or unifying approaches to succeed in all seasons. Our different and complementary backgrounds as authors allowed us to explore various critical management intersections with an eye to improving both theory and practice.