PurposeIn 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/approachThe authors have conducted a systematic literature review to identify existing relevant work on this topic and to detect potential avenues for future research.FindingsThe 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 implicationsImplications 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/valueBy 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).

This paper explores ideation capabilities in large organizations. Based on the dynamic capabilities framework, it is seen that ideation capabilities are managerial and organizational processes for the stimulation, identification, selection and implementation of ideas. In order to explore how these capabilities are manifested and used in firms, case studies of four Swedish companies have been performed. The results of the study show that there are different approaches to ideation. In terms of the nature of innovative ideas, the observations lead to the suggestion that ideation presents some seemingly paradoxical issues to management. Firms with an explicit focus on building ideation practices experience that there are some negative consequences of the resultant formalization. Furthermore, the extent to which many employees should be involved in ideation is a difficult aspect, even though new technologies make this more viable. Also the degree to which the search for ideas should be directed is a non-trivial question, as the ideation processes can be facilitated by both freedom and limitations. It is nevertheless seen that firms can benefit from more deliberate approaches to ideation, in particular if these are broad and balanced and focus on both building capabilities that formalize the informal, in terms of establishing explicit processes, roles and systems, and building capabilities needed to manage informal structures in new ways.

The dynamic capabilities perspective has received increasing attention in the field of strategic management research. By focusing not only on the competitive advantage that is provided by a certain resource constellation, but also on the change of firms' resources over time to fit changing business environments, this perspective underlines the strategic importance of innovation. Despite the apparent interest in the dynamics of firm resources, there is still limited empirical evidence for how the strategic matching of resources and market needs is actually done, particularly in more rapidly changing environments. In order to investigate this process, an empirical study of 59 start-ups in the Swedish mobile Internet industry was performed. A first finding from the study is that start-ups which change market focus have a significantly higher probability to survive their first years. Furthermore, it is seen that in most cases, the change in market focus takes place without any related change in the technological resources that are used by the firm, indicating that an important factor at this stage is the flexible use of resources in searching for a suitable match between resources and market opportunities. This mode of learning and adaptation is very different from earlier proposed models focusing on the acquisition and transformation of resources. Instead, the early-stage dynamic capabilities reveal themselves as bricolage, that is, the capacity to re-interpret and re-combine already existing resources and thereby improve their fit with the demands of the market environment. The results suggest that earlier proposed dynamic capabilities frameworks need to be modified, by taking into account the single entrepreneur as a source of dynamic capabilities, and by introducing the concept of resource flexibility. In terms of managerial implications, the findings underline the importance for entrepreneurs to balance the striving for distinctive capabilities that provide competitive advantage and the experimentation and improvisation needed to adapt to changes in the market.

PurposeThe 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/approachThe 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.FindingsBased 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/valueThe 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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An organization's effectiveness partly depends on the success of its projects. With this in mind, many efforts have been spent in recent decades to enhance the project management culture, but results are still highly unsatisfactory. Project Management Maturity Models (PMMMs) are seen by both the academic and the industrial communities as a solid instrument to achieve this goal. The point at issue is that surveys and researches show PMMMs must be better linked to business and financial performance. The aim of this paper is to explore the scope for improvement to evolve PMMMs as business-oriented frameworks.

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