Chiara Acciarini, Federica Brunetta and Paolo Boccardelli
In a work environment marked by unprecedented complexity, volatility and ambiguity, managers must accomplish their objectives while navigating many challenges. This paper aims to…
Abstract
Purpose
In a work environment marked by unprecedented complexity, volatility and ambiguity, managers must accomplish their objectives while navigating many challenges. This paper aims to investigate potential interrelations among environmental transformations, cognitive biases and strategic decisions. In particular, the purpose of the study is to crystallize the state of art on the impact of cognitive biases on strategic decisions, in the context of environmental transformations.
Design/methodology/approach
The authors have conducted a systematic literature review to identify existing relevant work on this topic and to detect potential avenues for future research.
Findings
The findings highlight how decision-making is influenced and enabled by internal (e.g. perception) and external factors (e.g. digitalization). Specifically, the strategic role of cognitive biases appears to be crucial when investigating the related impact on strategic decisions in times of environmental transformation.
Practical implications
Implications are drawn for scholars and practitioners interested in evaluating the role of specific decision-making determinants for the formation and implementation of strategic decisions. In this sense, we stress that decision-makers need to manage their cognitive biases and select the right information out of a wide data set in order to adapt to environmental transformations.
Originality/value
By systematizing the literature review, potential interrelations among environmental transformations, cognitive biases and strategic decisions are identified. Furthermore, the primary phases that drive the decision-making process are proposed (analysis, decision, onboarding and control).
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Chiara Acciarini, Paolo Boccardelli and Mario Vitale
The Covid-19 pandemic represents an extraordinary and unpredictable event influencing the whole economy and society. Using a case study approach, the authors explored how big…
Abstract
Purpose
The Covid-19 pandemic represents an extraordinary and unpredictable event influencing the whole economy and society. Using a case study approach, the authors explored how big companies operating in Italy were able to respond to the crisis to ensure business continuity. Therefore, the authors discussed different business disruptions caused by Covid-19; in addition, they developed an integrated policy framework in which they proposed specific strategic responses for increasing the level of organizational resilience. The aim of the paper is to discuss and reflect on the ability of specific companies to increase their level of organizational resilience when unexpected events happen.
Design/methodology/approach
The authors conducted semi-structured interviews with target CEOs of four major companies operating in Italy in different industries. Especially, the authors focused on multiutilities, media and communications, investment banking and mobile telecommunications. The interviews were based on questions dealing with Covid-19 implications and strategic responses to navigate this complex scenario.
Findings
Based on the CEOs' contributions, the authors presented short-term actions and long-term strategies planned and implemented by each Italian company. In particular, the authors emphasized similarities and dissimilarities in terms of strategic responses and future business development.
Originality/value
The analysis of practical cases was helpful for increasing their knowledge on organizational resilience and for providing the managerial community with a policy framework to navigate unexpected events like the Covid-19 pandemic.
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Vanessa Warnier, Xavier Weppe and Xavier Lecocq
The purpose of this paper is to answer the question: how to extend resource-based theory to take into account the contribution of all kinds of resources (including the less…
Abstract
Purpose
The purpose of this paper is to answer the question: how to extend resource-based theory to take into account the contribution of all kinds of resources (including the less regarded ones) to performance? While recognising the importance of strategic resources in building and sustaining a competitive advantage, the authors contend that a symmetric analysis of more available resources can shed new light on the sources and mechanisms of superior performance. Thus, they aim to contribute to an extended theory of resources.
Design/methodology/approach
Based on literature review and theorization process, the authors introduce alongside strategic resources, the concepts of “ordinary resources” and “junk resources”, showing how they may contribute to performance with an appropriate business model. Several illustrative cases are discussed to demonstrate that such resources need to be studied by resource-based theory (RBT).
Findings
The authors propose shifting the focus of RBT from the study of strategic resources alone in order to consider other types as well: ordinary and junk resources. Such an approach involves significant implications for strategic management theory and management practices.
Practical implications
The paper describes the conditions under which ordinary and junk resources (more available to most firms than strategic resources) may generate a competitive advantage. The extended resource-based theory can have implications for society as it may influence managers ' and public attitudes towards underestimated resources and lead to new business models.
Originality/value
The approach developed in this article also goes beyond traditional critiques of RBT. Specifically, the authors ' analysis avoids tautological reasoning, distinguishing between: resources; perceptions of their attributes by firms; the services these resources render; the business model implemented to deploy these resources; and the effects in terms of performance. The authors build an extended resource-based theory, allowing the contribution of various kinds of resources to firm performance to be explained.
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Patrizia Gazzola, Daniele Grechi, Matteo Ferioli and David Slavata
The purpose of this article is to investigate whether the corporate social responsibility (CSR) and innovation activity of Certified B Corps® is comparable to listed companies in…
Abstract
Purpose
The purpose of this article is to investigate whether the corporate social responsibility (CSR) and innovation activity of Certified B Corps® is comparable to listed companies in the Italian fashion industry.
Design/methodology/approach
The study includes a systematic literature review performed on Scopus® and combining keywords related to CSR and the fashion industry. Moreover, the literature review involves empirical analyses performed using a mixed-methods approach. First, a text-based content analysis was carried out on the companies' sustainability reports using the keyword scoring approach. The innovation index was then calculated, and multiple ordinary least squares (OLS) linear regressions were performed.
Findings
Based on the data available, it has emerged that Certified B Corps® who pursue a more significant number of SDGs are more likely to implement circular economy principles. Moreover, Certified B Corps® that have higher transparency standards and assume social responsibility practices also have higher innovation activity; in contrast, companies who used CSR only as a marketing tool have lower activity.
Research limitations/implications
The analyses were influenced by the coronavirus disease 2019 (COVID-19) pandemic, revealing weaker relationships between the variables, as the analyses involved 2020 data. Furthermore, although the analysis considers the entire population of Certified B Corps® and listed companies in the Italian fashion industry, the size of the sample analyzed influenced the results and insights. Therefore, the analysis does not allow for generalizability. Finally, the study was conducted on a single country whose economic and social contexts have influenced some variables.
Practical implications
The paper highlights some managerial implications. Managers should consider CSR to be an investment and an opportunity to survive the post-COVID-19 pandemic by applying the triple bottom line (TBL) approach in formulating strategies and increasing investments to develop sustainable innovations.
Originality/value
The article explores B Corps, which has received minimal attention in the literature, to propose a deeper understanding of the topic.