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"Managers are facing unprecedented complexity, volatility and ambiguity, quickly adapting their decision-making, leadership, vision, and strategies. Megatrends and forces of change have profound implications for business models, processes and organizational structures, calling into question current paradigms and designing future change. Additionally, unprecedented disruptions, unforecastable in their nature, have increased the need for resilience and strategic flexibility. The book aims at tackling the potential interrelations among environmental transformations, strategic decisions, and leadership, to better understand the role of external and internal factors on the effectiveness of managers. The book defines "change": its extent, nature and characteristics. Then, it focuses on decision-making, the role of potential cognitive biases and how the interaction with the perception of determined environmental events affects the way in which decision-makers decide to implement specific strategies. Finally, in the light of waves of strategic change, it reviews theories on leadership and transformation, by looking at the role and traits of leaders. Since environmental transformations have the potential to "disrupt" not only strategies but also decision-making processes and leadership, the book provides a review on the issue and propose an integrative framework which can be useful for both scholars and managers, especially in the fields of decision-making and strategy"--

AbstractThe 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. Copyright © 2006 John Wiley & Sons, Ltd.

Reflecting the emergence of new organizational forms and hybrid organizations, this edited collection explores the processes of exchange, collaboration and technological management that have changed organizational structures. By investigating the impact that inter-organizational collaboration can have on the production and implementation of ideas within new firms, this study contributes to the growing field of innovation and responds to the need for a greater understanding of renewed processes. The authors argue that collaborations need to go beyond existing practices to create emerging paths such as bricolage, experimentation, effectuation and learning. Drawing together a diverse body of literature on the internal dynamics that drive organizational change, Learning and Innovation in Hybrid Organizations presents multiple perspectives on combining organizational flexibility with learning and innovation, and provides implications for future practice.