Corporate strategy in turbulent environments: Key roles of the corporate level

This paper analyzes the evolution during the period 1986-2002 of the corporate strategy of Lujan, a highly successful car components manufacturer headquartered in Spain, as a way to explore how the corporate level influences the successful evolution of a company exposed to a "turbulent" environment over a long period. We find that the corporate level plays three key roles. First, it drives a firm's evolution by developing a cognitive representation of the firm's competitive landscape. Second, it paces the company's evolution by alternately shifting the balance of organizational initiatives between static efficiency-based "local search" strategies, chosen in times of stability or economic slowdown, and dynamic efficiency-based "long jump" strategies, adopted during periods of major environmental turbulence. Long-jump corporate strategies, carried out through limited downside strategic initiatives such as real options and strategic alliances ("off-line long-jumps"), are particularly frequent in these circumstances. The third role consists of developing an organizational architecture that frames the self-organized coordination of the different business divisions. The Lujan story clearly illustrates the important role of corporate strategy in a firm that must undergo radical transitions as a result of major environmental changes.corporate strategy; turbulent environments; complexity theory; car components;

A formal evaluation of the performance of different corporate styles in stable and turbulent environments

The notion of "parenting styles", introduced by Goold, Campbell and Alexander, has been widely acknowledged by the Corporate Strategy literature as a good broad description of the different ways in which corporate managers choose to manage and organize multibusiness firms. The purpose of this paper is to present a formal test of the relationship between parenting style and performance. For this test, we developed a set of agent-based simulations using the Performance Landscapes framework, which captures and describes the evolution of firms led by different parenting styles in business environments with different levels of complexity and dynamism. We found that the relative performance of each style is contingent upon the characteristics of the environment in which the firm operates. In less complex business environments, the Strategic Planning style outperforms the Strategic Control and Financial Control styles. In highly complex and highly dynamic environments, by contrast, the Strategic Control style performs best. Our results also demonstrate the importance of planning and flexibility at the corporate level and so contribute to the wider debate on Strategic Planning vs. Emergent Strategies.Corporate strategy; Parenting styles; Agent-based models;

Using stakeholder dialogue as a source for new ideas. A dynamic capability underlying sustainable innovation

This paper attempts to gain a deeper understanding of the firm's ability for integrating stakeholder insights into the process of organisational innovation within the context of sustainable development. Given the early stage of empirical research on the topic, we used an exploratory case study method of two Spanish companies that have successfully learned from stakeholder dialogue and have generated innovations that are both beneficial for the company and for sustainable development in general. The evidence from the two case studies suggests the existence of two simple capabilities - stakeholder dialogue and stakeholder knowledge integration - for generating innovations in accordance with stakeholder needs. Whereas stakeholder dialogue leverages organisational resources that promote two-way communication, transparency and appropriate feedback to stakeholders, stakeholder knowledge integration relies on non-hierarchical structures, flexibility and openness to change. The paper sheds some light on the under-researched issue of linking stakeholder dialogue and sustainable innovation, and contributes to opening the 'black box' of dynamic capabilities and advancing in the understanding of this fundamental organisational concept.sustainable development; stakeholders; innovation; capabilities;

Sustainability in the boardroom: An empirical examination of Dow Jones sustainability world index leaders

In recent years, there has been a virtual explosion of interest in corporate governance. Corporate scandals and the need to protect minority shareholders' interests, for example, are some of the reasons behind the development of corporate governance codes in numerous countries and corporations. At the same time, the concepts of "sustainable development", "corporate responsibility", and "corporate citizenship" have taken root in the business world. Although an extensive body of research treats the fields of corporate governance and sustainable development separately, less attention has been paid to the interaction between both fields. This paper attempts to bridge this gap by examining how corporate governance systems are evolving in order to integrate sustainable development thinking into them. We do so by analyzing the governance systems of the 18 corporations that are leading the market sectors considered by the Dow Jones Sustainability World Index (DJSWI). We present the results of our in depth analysis of the 18 cases and propose the Sustainable Corporate Governance Model that emerges from that analysis.Corporate governance; sustainable corporate governance; sustainable enterprise; sustainable development; business in society;

Governance mechanisms for effective leadership: The case of Spain.

Most recent work on Boards of Directors has been focused on what can be considered best practices for effective governance in terms of roles, composition, process and style. Furthermore, this literature can be divided among very practically oriented managerial work, and more rigorous, theoretically based work. Most of the empirical research in this area has been centered on Anglo-Saxon countries. Some European countries, like Spain, have a very different governance tradition. Given this context, our present work pursues with three complementary objectives: 1. To ascertain the current status of governance practices in Spain. 2. To obtain evidence about which of these practices may be associated with effective governance. 3. To find out what factors account for the composition of General Managers’ compensation.leadership; effective governance;

Digital Image Compression Using Artificial Neural Networks

The problem of storing, transmitting, and manipulating digital images is considered. Because of the file sizes involved, large amounts of digitized image information are becoming common in modern projects. Our goal is to described an image compression transform coder based on artificial neural networks techniques (NNCTC). A comparison of the compression results obtained from digital astronomical images by the NNCTC and the method used in the compression of the digitized sky survey from the Space Telescope Science Institute based on the H-transform is performed in order to assess the reliability of the NNCTC

Welcome to MTI—A New Open Access Journal Dealing with Blue Sky Research and Future Trends in Multimodal Technologies and Interaction

In this era of massive use of computers and other computational devices (e.g., low-cost wearable sensors, smartphones, other smart devices, etc.), the nature of digital data is becoming more complex and heterogeneous

Contrasting farmers' perception of climate change and climatic data: How (in)consistency supports risk reduction and resilience?

Farmers’ adaptation to climate change is a two-step process that involves perceiving stressors and identifying impacts to respond to variability and changes through specific actions and strategies. Hence, successful adaptation depends on how well changing climate is perceived, either from a ‘bottom-up’ pathway –where farmers observe and identify changes through past experience–, or by using a ‘top-down’ pathway –where changes are identified through climate records. A gap between both pathways tends to be related to farmers’ misperception. For example, as life experiences influence perception, farmers who have been directly affected by extreme climatic events tend to report that the probability of such event happening again is relatively high. Furthermore, as perception is in part a subjective phenomenon, therefore, different farmers in the same locality might construct different perceptions of climate change impacts even though they experience the same weather patterns. Consequently, increased attention has been put on combining the ‘civic science’ of farmers’ perceptions with the ‘formal science’ from meteorological reports to identify the (in)consistency between perceived and observed data and how this affect farmers’ resilience when facing climate change impacts. This contribution provides a review comparing farmers’ perception and climate observations to address a twofold research question: 1) Which extreme events and compound risks are perceived by farmers in contrast with observed data? And 2) How do past experiences and social-learning influence farmers’ resilience and their adaptive capacity? We analyze a portfolio of 147 articles collected from Scopus library catalogue since 2000. The bibliometrics analysis was coupled with the systematic review to 103 articles selected from the original portfolio. Comparison between perceived and observed changes were focus on what was changing (onset, duration or cessation regarding temperature and rainfall patterns) and how it was changing (amount, frequency, intensity or inter-annual variability). Results will be useful for managers, developers, and policymakers of climate adaptation strategies to be more in tune with farmers’ understandings of when and how weather is changing. Furthermore, the review could generate recommendations for the design, formulation, and implementation of adaptation policies that are better tailored to farmers’ perception at local conditions, being more efficient and conducive to risk analysis when facing climate change