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(ä): 485-99
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A diagnostic tool to determine a strategic improvisation Readiness Index Score
(IRIS) to survive, adapt, and thrive in a crisis
#MMPMIDC7358756
Hughes P
; Morgan RE
; Hodgkinson IR
; Kouropalatis Y
; Lindgreen A
ä-/-ä 2020[Jul]; 88
(ä): 485-99
PMIDC7358756
show ga
Crises for business-to-business (B2B) firms are characterized by unexpected or
unanticipated severe threats that are highly uncertain where strategic response
times are low in which executives are victim of overwhelming time pressures to
action fast strategic responses to these events?as the threats bring to question
the viability and survivability of the firm. Consequently, crises provoke a
profound impact on executives' sensemaking, as they attempt strategically
navigate these events. We bridge thinking around crisis management with theories
of strategic decision-making and conclude that strategic improvisation is a vital
mechanism that enables effective management interventions to be executed as a
means of surviving, adapting, or potentially thriving under challenging
circumstances. We derive a theoretically grounded framework of five strategic
imperatives underlying our 10C Strategic Imperative Framework for improvisation
readiness. First, we develop the Improvisation Readiness Index Score (IRIS) as a
means for executives to diagnose their organization's improvisation readiness
according to the requisite strategic imperatives. Second, we present a three-step
guide for executives to consider for managing through crisis with improvisation
and the strategic imperatives at its heart. Third, we illustrate the strategy
improvisation challenges. This allows executives to close the strategic
improvisation gaps between their ?actual? and ?preferred? readiness.