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The chapters presented here by global scholars fill the void in current knowledge of how to generate effective strategic adaptation in times of abrupt environmental changes, generating important leads for forthcoming scholarship efforts for the benefit of business and society.

We need to develop a better understanding of how to generate effective strategic adaptation in times of abrupt environmental changes. The global interdependencies across specialized economic functions and markets require that business activities co-evolve across interacting public-private relationships where organizations can engage around viable ecosystems forming a sustainable path for the future. The ability to develop sustainable solutions thrives on innovative behaviors across networks of collaborative relationships and we need to enhance our understanding about how they can be established and managed. The chapters presented here by global scholars fill the void in current knowledge with the aim of generating important leads for forthcoming scholarship efforts for the benefit of business and society. Emerald Studies in Global Strategic Responsiveness aspires to disseminate new inspiring research insights as a potential catalyst for the development of effective approaches to deal with the exposures imposed by dynamic complexities in the global business environment. The implied organizational and societal challenges require effective responses from both public and private organizations induced by supportive policy initiatives.

Introduction:Adaptive corporate strategies in a turbulent world /Torben Juul Andersen --Multinational corporate strategy-making: integrating international business and strategic management /Torben Juul Andersen and Ulf Andersson --The implications of subsidiary autonomy for multinational flexibility /Victor Meins Pedersen and Sebastian Spon Kofod-Jensen --Democratizing the multinational corporation (MNC): interaction between intent at headquarters and autonomous subsidiary initiatives /Torben Juul Andersen and Carina Antronia Hallin --Internationalization effects in a global knowledge-based industry: a study of multinational pharmaceutical companies /Solveig Kirstine Bennike Bennedsen and Lærke Lissau Lund-Sørensen --Navigating a global corporate culture: on the notion of organizational culture in a multinational corporation /Michael Jakobsen, Verner Worm and Xin Li --Building a global responsive organization: the case of the Haier Group /Xinbo Sun, Yi Cao, Suxiu Li and Xin Li --Effective crisis and emergency responses in the multinational corporation /Carolina Acedo Darbonnens and Malgorzata Zurawska --Global catastrophic effects: the impact of terrorism /Jakob Lyngsø Jørgensen and Christoffer Breum Nielsen.

Introduction -- Risk, risk management, and risk governance -- Risk, uncertainty, and proactive risk-taking -- Value based enterprise risk management practices -- Value creation through risk management -- The strategic risk-taking organization -- Postscript

"The project comprises an edited collection of contributions from key note speakers and selective academic presenters at the 6th International Risk Management Conference - IRMC 2013, which was hosted by the Copenhagen Business School, Denmark. The IRMC 2013 conference brought together leading experts and professionals from various academic disciplines to discuss risk management under the general theme: Enduring Financial Stability: Contemporary Challenges for Risk Management and Governance. This theme reflected the cross-disciplinary perspective of the conference that as something quite unique and new welcomed papers from the fields of finance, economics and strategic management for fruitful exchanges. This particular conference introduced a special topic: Contemporary Risk Management Challenges - Managing Risk in an Unstable Environment to emphasize the important managerial aspects of the complex and multifaceted risk management challenge. This collection of articles, therefore, comprises contributions responding to this call for inquiry reintroducing central aspects of 'management' in risk management that hitherto have been somewhat overlooked or subdued. Contemporary Challenges in Risk Management focuses on two central aspects of the risk managing process, namely (1) how managers (can and do) assess developments in the external risk environment and deal with them, and (2) analysing the effects of risk management and different managerial approaches. The articles represent state of the art academic analyses and research contributions"--

Adapting To Environmental Challenges: New Research In Strategy And International Businessprovides new perspectives to understand strategic adaptation in international business contexts based on corporate responsible behavior and cultural sensitivity as the ingredients for agile operations and a resilient multinational organization.

PurposeThe aim of this study is to gain important insights on integration oriented servitization identifying essential dimensions of effective structures, coordination approaches and management controls adopted by manufacturing firms that integrate forward towards distribution, sales and services.Design/methodology/approachThe study adopts a theory-guided qualitative abductive methodology to conduct a comparative case-study of two manufacturing firms in the same industry integrating forward to enhance servitization but with significantly different performance outcomes. The findings are uncovered from a broad spectrum of primary and secondary data spanning two decades.FindingsThe consistently high-performing firm puts equal emphasis on production and downstream distribution, sales and services and motivate individuals to engage in entrepreneurial efforts to develop combined product-services offerings that are valued by customers. The underperforming firm prioritizes operating efficiency driven by engineering prowess and managed through planning, standardization, authority and central controls.Research limitations/implicationsThe study is based on two representative firms operating in a specific industry context, which has ramifications for the generalizability of results and calls for replication studies to substantiate and extend findings.Practical implicationsForward integration from manufacturing into distribution, sales and services represents a specific servitization strategy that needs structure and particular coordination approaches to be effective in complex dynamic product-markets. The characteristics of the outperforming case company provide useful insights on effective integrated servitization efforts.Social implicationsForward integration is a commonly adopted strategy among manufacturing firms that constitute the backbone of modern economies and effective governance of these integration oriented servitization efforts has important implications for societal value creation.Originality/valueThis study builds on rationales from management science including economic theory, corporate strategy and different micro-foundational lenses and thereby hone recent calls for broader theoretical foundations to enlighten studies of the servitization puzzle.