Managing Technological, Sociopolitical, and Institutional Change in the New Normal

Abstract

A New Normal environment for business has emerged in the years after the 2008 financial crisis based on numerous changes in the world's economic, technological, demographic, and sociopolitical factors. This combination of changes has created a New Normal environment for firms with major implications for managers, strategists, and entrepreneurs alike. It has resulted in an environment with new challenges and opportunities that are considerably different from what firms had to contend with in the years previous. In this paper, we present the main changes that characterize the current New Normal business environment and highlight some key implications for strategy and management. Then, we present the nine articles in this special issue dealing with different dimensions of this new environment for firms. Subsequently, we outline some future research questions that could help to advance our knowledge of the New Normal environment and its implications for firms and management theories. In examining the New Normal, it is important to be reminded that the world is indeed round and even small actions on one side of the globe can have a major impact on organizations on the other side of the globe.

Temporal Strategies and Firms’ Speedy Responses to COVID‐19

“…It is not unexpected that the new normal of the pandemic would have a major impact on firm activities (Ahlstrom et al, 2020;Bradley et al, 2020). Yet it has also created new strategic imperatives for speed.…”

Challenges and Opportunities for Small and Medium Enterprises in Eastern Indonesia in Facing the COVID-19 Pandemic and the New Normal Era

“…Literature Review Ahlstrom et al (2020) states that the environment and new normal life will have an impact on business practices and methods, for that the role of the leaders of the organization or the owner of small and medium-sized businesses must prepare the power both through information technology and other strategies, COVID-19 does not just have an impact on the health sector as stated by Zeegen, Yates, & Jevsevar (2020) in which many hospitals have decreased income and increased expenditure due to handling COVID-19 in the United States so researchers ask whether we will return to normal situations or face new normality after COVID-19. Of course, the impact is clearly more widespread in other sectors such as economy, politics, and security.…”

Factors Of Innovative Development Of Regions In The Concept Of Quality Economics

“…The analysis revealed a steady dependencethe regions with high indicators of quality of life are also donors of innovative development. Low indicators of innovative activity make us study not only the investment climate, but also the social conditions that create the conditions for innovative entrepreneurship (Ahlstrom et al, 2020;Farquhar, 2019;Feenstra & Romalis, 2014;Okrepilov et al, 2018).…”