Global Strategic Responsiveness

The Global Strategic Responsiveness initiative is engaged in a variety of activities to help both public and private organizations.

 
       The Global Strategic Responsiveness initiative is engaged in a variety of activities to help
       both public and private organizations deal more effectively with the uncertain conditions and
       unpredictable abrupt events that characterize the contemporary business environments. 
 
       Today’s socio-economic conditions are influenced by many emerging (global) challenges where
       the eventual outcomes are largely unknown.  These include issues like climate change,
       global pandemics, political conflicts, social trends, technological inventions, competition/rivalry,
       shifts in industry structure, product/process innovation, policy initiatives, regulation, natural
       and manmade disasters, etc. These factors can all lead to extreme outcomes with impacts
       on organizational longevity and sustainability.
 
       It is in this context GSR wants to be a catalyst for timely research that can provide useful answers
       to the implied organizational (and societal) challenges of our time that will require effective
       responses from public and private organizations and international policy-makers alike.  
 
       Searching for useful solutions to these challenges will require cross-disciplinary contributions and
       collaborative efforts across an international network of engaged researchers and partners.
 
       The global business context can be characterized as a dynamic complex system where eventual
       outcomes are largely unpredictable and may have potentially extreme effects that can threaten
       the economic and social order as we know it today.
       This exposure is formed by a multitude of factors that go beyond firm-specific responses and
       require collective actions among public and private organizations to develop viable solutions
       that can sustain well into the future. 
 
       It requires a deeper understanding of the global risk landscape and more effective ways to
       respond among involved organizational actors together with public policy makers where
       neither private nor public sector initiatives can solve the issues on their own.
 
       A number of related research activities support the GSR effort (see below).
 



Related research activities:


       STRATEGIC RISK LEADERSHIP – DEALING WIITH RISK, UNCERTAINTY, AND THE UNKNOWN
       An ongoing research effort 
       This project was initiated by an invited research stay at the Opus College of Business
       at St. Thomas University in Minneapolis (USA) to work on joint efforts to analyze
       the state of strategic risk management and governance practices. 
       This work studies current risk management practices to identify proper
       risk leadership traits and areas for policy initiatives and regulatory (risk) governance.
       The project has received initial funding from the Otto Mønsted Foundation. 
       This is a collaborative effort with the Risk Leadership Initiative headed by
       Professor Peter Young, 3M Endowed Chair in International Business,
       Opus College of Business, University of St. Thomas.
 
       EMERALD BOOK SERIES:  EMERALD STUDIES IN GLOBAL STRATEGIC RESPONSIVENESS
       A series of thematic books
       The is a book series dedicated to build on and extend
       the Global Strategic Responsiveness research theme.  
       The first issue entitled The Responsive Global Organization:
       New Insights from Global Strategy and International Business
       was published in the fall of 2017. The second issue with the title:
       Strategic Responsiveness and Adaptive Organizations:
       New Research Frontiers in International Strategic Management
       was released in February 2019.  
Future editions linked to the
       general research theme are planned for future publication.
 
       EMPIRICAL STUDIES OF PRESCRIBED RISK GOVERNANCE MODELS
       An ongoing research effort
       The project was initiated as a research stay at the University of Florence,
       Department of Management, Accounting and Finance,
       starting a collaborative research effort to examine the claimed,
       but rarely validated, effects of formal enterprise risk management frameworks
       including extended three-lines of defense models used in EU prescribed risk
       governance regulation. The initial effort received funding from the University of Florence.
       The project is a collaborative effort with Alessandro Gianozzy (University of Florence)
       and Johanna Sax (CBS and Danske Bank).

       RISKY BUSINESS: MANAGING IN A WORLD WITH EXTREME EXPOSURES (2019-2021)
       A research project
       The project is investigating why only few organizations are able to adjust and thrive
       against the adverse odds provided by the turbulent global business environment
       whereas most others seem to fail.  The global market economy is exposed to many risks
       including financial crisis, cyberattack, political instability, governance failure, 
       extreme weather conditions, etc.  In this context, only a small fraction of firms outperform
       and display favorable risk-return outcomes whereas a vast number of firms are contained
       in an extreme left-skewed tail of poor returns. This highly systematic phenomenon is
       overlooked in mainstream management research. By studying this phenomenon,
       we will try to understand how organizations can adapt and persevere in an uncertain world,
       which is a very timely management issue. 
The project is funded by the Independent Research
       Fund Denmark (Danmarks Frie Forskningsråd – DFF).
 



Research mission:

 
       The Global Strategic Responsiveness (GSR) initiative aspires to be an internationally
       recognized catalyst for research on strategic adaptation and responsive multinational
       enterprises and public-policy institutions that can generate sustainable prosperity in
       highly uncertain and unpredictable global contexts driven by inspiring collegial work on
       creative scholarship. The GSR initiative heeds a philosophy of engaged scholarship to
       advance new knowledge that takes advantage of collaboration between researchers,
       practicing managers and policy-makers to generate results of practical value for business
       and society.  It is the aim to uncover different aspects of effective strategic responses to the
       demands imposed by a dynamic complex global business context. 
 
       The GSR initiative wants to advance research efforts that study responsive strategy-making
       processes in multinational organizational contexts to address the key business and societal
       challenges of our time. It seeks to uncover responsive organizational structures and processes
       that are conducive to adaptation and renewal in the face of unprecedented global challenges.
       This may uncover and explore the contours of global innovation platforms, dynamic adaptive systems,
       strategic response capabilities, interactive decision structures, multi-agent technologies,
       open information processing systems, autonomous creative behaviors, values driven cultures,
       ethical leadership concerns, and more. 
 



Associated researchers and partners:

       (In alphabetical order)
 
       Denmark:
 
       International:




Key research areas:

 
       • Strategic risk governance
         Strategic risk management deals with organizational capabilities to identify changes
         in the competitive context, monitor strategic exposures, and develop effective responses
         that enable business renewal and adaptive moves over time to create a better fit with the
         changing business context. It investigates links to formal enterprise risk management approaches
         and emerging risk governance regulation as (potentially) needed, but insufficient means to
         develop strategic response capabilities that deal effectively with risk, uncertainty, unpredictable conditions,
         and businesses that evolve towards the unknown. It further explores the strategic risk leadership
         characteristics necessary to form effective risk governance systems.
  
       • Multinational corporate responses
         Contemporary organizations typically operate across different (inter-)national markets and diverse
         business activities at the same time and thereby constitute multinational corporations that must deal
         with the dynamic complex developments in the global market economy.
         This context provides new opportunities for innovative business development but at the same time
         creates challenges in dealing with new risks, uncertainties and unknown conditions. 
         This requires flexible multinational structures with strategic responses that foster effective integration
         of corporate thinking at headquarters and an ability to take local adaptive initiatives that create updated
         experiential insights through learning-by-doing. 
 
       • Effective response capabilities
         The ability to respond effectively to dynamic complex conditions in the global business environment depends
         on an ability to generate new cross-disciplinary insights among international participants.
         It may evolve from open innovation networks/platforms through interactive fast-slow processes combining
         autonomous exploration with integrative considerations around forward looking analytics with information
         exchanged openly between agents. New developments in other scientific fields including, e.g., cybernetics,
         intelligent multi-agent technologies, complex adaptive systems, and holonic approaches can provide essential
         support to develop more effective future response systems as a promising research field.