Strategic Reorientation Research Articles

Spatial inequalities of agritourism research for rural revitalisation

ABSTRACT With the growing global emphasis on targeted poverty alleviation and rural revitalisation, the alignment of research funding and academic focus with the needs of vulnerable and impoverished populations remains unclear. Our study, utilising data from the China National Knowledge Infrastructure (CNKI), reveals a disproportionate concentration of academic efforts from 2017 to 2022 on the economically affluent regions of East and South China, accounting for 51.0% of outputs, predominantly at the provincial and prefectural levels (63.2%). In stark contrast, a mere 7.2% of scholarly publications addressed the concerns of only 4.1% of the nationally recognised poverty-stricken counties (832 in total). This disparity underscores the urgent necessity for a strategic reorientation of research priorities towards the underdeveloped and impoverished regions that are most in need of scholarly attention and revitalisation efforts.

From East to West: Evaluating the Effects of the Russian-Ukrainian Confl ict and Russian Migration on the Tourism Industry in Georgia and the Path toward European Integration

Abstract Located at the intersection of Asia and Europe, Georgia’s tourism industry encounters unique challenges amidst regional geopolitical tensions, notably the ongoing Russian-Ukrainian confl ict and the subsequent Russian migration. This article employs both qualitative and quantitative research methods to explore the impacts of these political realities on Georgia’s tourism sector and advocates for a strategic reorientation towards European integration as a means of promoting sustainable development. Drawing insights from qualitative interviews with key stakeholders and quantitative surveys with international tourists, the study unfolds the complex relationship between politics and tourism. Despite the predominantly negative perception of the infl ux of refugees, concerns about rising prices, perceived changes in service quality, and the expanding presence of Russian-owned businesses, the resilience and appeal of Georgia’s tourism realm remain evident. Specifi cally, all respondents recommended Georgia as a tourist destination and reported feeling safe during their stay. The study also presents a comparative perspective, evaluating the potential effects of further European integration on Georgia’s tourism landscape, and underscores key mitigation strategies, including policy development, diversifi cation of tourism offerings, strategic communication, digital platform advancement and utilization, and in general, the adoption of European best practices in sustainable tourism. These findings emphasize the need for nuanced, proactive, and inclusive policymaking and industry regulation in line with Georgia’s European aspirations. This comprehensive exploration provides invaluable insights for stakeholders in the tourism sphere and contributes to the broader understanding of the intricate relationship between geopolitical realities and tourism.

Evaluating the Role of Sustainable Leadership and Technology Integration in Enhancing the Environmental and Social Responsibility of the UAE Banking Sector

This paper analyzes the role of sustainable leadership and technology integration in increasing the environmental and social responsibility of the UAE banking sector. Banks are prominent agents in creating sustainability through their financing activities and processes. Sustainable leadership is more than pursuing profit motives; it includes moral and inclusive decision-making for positive environmental and social impact. Sustainable leadership and enabling technologies contribute to a bank's sustainability indicators. A qualitative literature review combined the scholarly views in this field. Twenty recent peer-reviewed papers were thematically analyzed. This revealed how sustainable bank leaders adopt collaborative approaches involving stakeholders in creating sustainability solutions. Their values-based leadership focuses on long-term impacts and integrating environmental and social factors in bank strategies. Sustainability technologies like AI, big data and blockchain offer tools to implement these strategies. The analysis found that technology aids sustainable leaders in improving banks' eco-efficiency, reducing emissions, managing risks, increasing renewable financing and enabling financial inclusion. This enhances their environmental and social responsibility. Stakeholders like customers, employees and investors generally favour such sustainability integration. However, concerns exist around potential tradeoffs, profitability impacts and the depth of banks' commitment. The review also uncovered implementation challenges, including costs, data deficiencies, staff capabilities and cultural change. Smaller banks significantly lag more prominent entities. Radical strategic realignment rather than incremental changes is required. Public policy plays a crucial role through reporting requirements, emission limits and support frameworks. The limitations of this qualitative synthesis point to future research directions. Statistical meta-analyses could increase the generalizability of findings. Surveys and interviews with experts would provide rich primary data. Comparative analyses of technologies and leadership styles driving the most robust sustainability results would reveal best practices. Longitudinal studies can elucidate the evolution of banks' sustainability approaches over time. In-depth case studies of smaller banks would uncover constraints and potential solutions for mainstreaming sustainability. Action research pilots can test mechanisms to instil sustainable leadership thinking. Policy analyses can identify regulatory measures to accelerate progress. In conclusion, sustainable leadership and technology integration are essential enablers, but not guarantees, of elevating bank sustainability. Realizing their transformative potential requires bank leaders to move from rhetoric to resolute, broad-based action. This necessitates radical strategic reorientation, not just incremental improvements. Multi-stakeholder collaboration is vital, alongside supportive public policies and ongoing research. Sustainable leadership and technologies must remain central in catalyzing a systemic transition towards responsible banking aligned with urgent sustainability imperatives.

Big data applications in portfolio management: A review of techniques and strategies

In the ever-evolving landscape of finance, the advent of big data has ushered in a paradigm shift, transforming the art and science of portfolio management from its traditional moorings to a future where data reigns supreme. This paper delves into the intricate dance between big data and portfolio management, aiming to demystify the journey from historical practices to the forefront of technological innovation in finance. Through a meticulous examination, the study sets out to map the evolution of portfolio management in the digital age, scrutinize the technological foundations essential for big data analytics, and explore the symbiotic relationship between big data capabilities and investment strategies. Employing a systematic literature review as its methodological backbone, the research navigates through the complexities of integrating big data into portfolio management, offering a panoramic view of the current landscape and the challenges that lie ahead. The findings illuminate the transformative impact of big data analytics, highlighting its potential to enhance decision-making, optimize risk assessment, and unearth new investment opportunities. However, the journey is fraught with challenges, including data privacy concerns, ethical considerations, and the need for continuous technological adaptation. In conclusion, the study advocates for a proactive embrace of big data, urging portfolio managers to cultivate a culture of innovation, ethical vigilance, and lifelong learning. As the financial sector stands on the brink of a data-driven era, this paper calls for a strategic reorientation towards the integration of big data analytics in portfolio management, paving the way for a future where informed decision-making and strategic foresight are paramount.

Overcoming strategic persistence: Effects of multiple scenario analysis on strategic reorientation

AbstractResearch SummaryTo thrive in an unpredictable world, managers must adapt their decision‐making to changing events. However, a major impediment to adaptation is strategic persistence, that is, the tendency to stick with previously successful strategies. We examined whether multiple scenario analysis can help to overcome the dysfunctional effects of strategic persistence. In a laboratory study using a multi‐round strategy simulation that required players to change strategies to succeed, we found that multiple scenario analysis alleviated the effects of strategic persistence by stimulating strategic reorientation, that is, adaptive shifts in patterns of strategic choice. Multiple scenario analysis influenced strategic reorientation indirectly, by fostering belief in a new strategy, and its effectiveness depended on prior performance. We discuss implications for research on the cognitive microfoundations of strategic adaptation.Managerial SummaryWhat can managers do when their previously successful strategy stops working? We found that using multiple scenario analysis, a common strategic planning technique can help decision makers switch to a new strategy. In our study, using a business simulation game that required players to change strategies to succeed, we found that those players who imagined different industry futures as part of a multiple scenario analysis exercise were more likely to believe in new strategies and as a result more likely to switch to the winning strategy. However, this intervention was less effective for players who had high levels of success with the old strategy. We discuss how scenario‐based intervention techniques can be used to assist managers with reorientating to a new strategy.

Strategic Reorientation: Assessing the Geopolitical Transition from Asia-Pacific to the Indo-Pacific

Strategic Reorientation: Assessing the Geopolitical Transition from Asia-Pacific to the Indo-Pacific

Формирование «умной специализации» в основе инновационного развития сельского хозяйства регионов России

Innovations are the main driving force for ensuring an intensive vector of socio-economic development and are the main lever for creating comfortable living and working conditions for the population, including rural ones. The adoption by the regions the concept of «smart specialization» is a manifestation of their conscious transition to a strategy of selective or point-wise investment in the active innovative growth of those areas of economic activity that are endowed with high innovative potential and are able to bring the region the greatest socio-economic, environmental and demographic prospects. The attractiveness of this approach is confirmed by the degree of prevalence of the principles of «smart specialization» in the world, when about 200 countries made a choice in favor of the development of «smart» technologies. The article substantiates the directions of the formation of «smart» specialization, contributing to the innovative growth of both agriculture and regional development in general. It is established that the introduction of information technologies into production and economic activities, on the one hand, contributes to the development of a new work culture, on the other hand, provides a strategic reorientation of the principles of activity.

Revolutionizing Renewable Energy Workforce Dynamics: HR’s Role in Shaping the Future

This academic study comprehensively explores the evolving role of Human Resources (HR) in the renewable energy sector, a critical area of development in the context of global sustainability efforts. This study aims to analyze how HR practices and strategies adapt to the unique challenges and opportunities presented by the burgeoning green energy industry. It aims to provide a nuanced understanding of HR’s transformation from a traditional support function to a strategic partner in fostering sustainable workforce dynamics. The study examines a wide range of scholarly articles, reports, and case studies through a methodological approach grounded in an extensive literature review. This approach facilitates a deep dive into current trends, strategic evolutions, and comparative analyses between traditional and renewable energy sectors, specifically focusing on identifying existing research gaps. The findings reveal a paradigm shift in HR’s role within the renewable energy sector. HR is emerging as a strategic entity that drives organizational direction and sustainability. Key insights include the necessity for HR to foster technological adeptness, align workforce skills with sustainable practices, and embed environmental consciousness into the organizational ethos. The study also highlights the importance of adapting HR strategies to the unique challenges of green energy, balancing economic, cultural, and technological considerations. Conclusively, the study underscores the critical role of HR as a catalyst in the green energy sector, advocating for a proactive, agile, and culturally sensitive approach. Recommendations include continuous learning, adaptation to technological advancements, and alignment of HR strategies with global sustainability trends. This study serves as a foundational blueprint for HR professionals and organizations in the renewable energy sector, emphasizing the need to lead and embrace the transition towards a sustainable future. It calls for a strategic reorientation of HR practices, positioning them at the forefront of driving sustainable development in the green energy landscape.

Investigating the reorientation in manufacturing firms through a dynamic of strategic shift: An exploratory study

BACKGROUND: In order to gain a competitive advantage or survive, organizations need to reorient themselves once in a while, and in distress tend to rely on turnaround strategies. The organization must ensure that the turnaround strategy implemented is effective. OBJECTIVE: This study explores and investigates the implementation of turnaround strategies during a crisis by manufacturing firms with the help of a conceptual model combining turnaround strategies and McKinsey’s 7s framework as the mediating variables. METHODS: A questionnaire comprising 35 questions was circulated amongst the employees of various manufacturing firms operating in India and 230 data samples were collected. RESULTS: The findings of this study indicate that manufacturing firms tend to implement turnaround strategies in the form of Operational, Financial, Leadership, Structural and Strategic methods for their survival and reorientation. Additionally, turnaround strategies and strategic reorientation variables of the McKinsey 7s framework showed a significant relationship through a set of Hard S and Soft S.

From Geopolitical Anxiety to Assertive Stance: The Historical Construction and Transformation of Turkish Naval Strategy

This article traces the evolution of Türkiye’s naval strategy from a defensive coastal-based concept to an assertive one within a broader geopolitical perspective. The shift began during the Cyprus crisis of the 1960s and was made possible by the Navy’s desire to return to the seas. The “Toward Open Seas” strategy of the 1990s and the development of the Turkish defense industry in the 2000s under the AK Party government further enabled this shift. By 2015, the Navy had become more active and was mobilized under a comprehensive strategic reorientation, reflecting its expanded role beyond coastal defense. It examines the various contextual factors that have influenced the transformation of Türkiye’s naval forces, including the intra-institutional context under the Turkish Armed Forces, the discursive context regarding dominant geopolitical narratives, and the geostrategic context concerning the operationalization of Turkish naval strategy. The article’s main aim is to contribute to the existing literature on Türkiye’s naval strategy by drawing on primary sources that have not yet been fully examined.

Germany’s Strategic Reorientations, Present and Past

Germany’s strategic reorientation under the Olaf Scholz-led coalition means the end of the civilian-power paradigm and the return of garrison states to European security following the shock of Russia’s war on Ukraine. Lessons can be drawn from the previous revolution in Germany’s strategic culture that took place in the 1950s under Konrad Adenauer and from the failures of adaptation in Germany’s security policies since reunification in 1990. Scholz leads a Germany facing a very different domestic and European political constellation than the one Adenauer faced. The role of economic actors and interests is much different in Germany’s relationship with Russia. Scholz also has a less predictable ally in a United States that is divided at home and faces a growing rival in China. Yet, as in Adenauer’s day, the perception of a direct threat and consequent urgency of alliance solidarity have helped diminish partisan differences and legacy biases.

Wachstumsunabhängigkeit: Transformation und Wohlstand erneuern – ohne Wachstum

Abstract Radically changed global conditions are forcing a “Great Transformation” of the economy and society. Predominantly, this is understood as a modernisation process associated with massive investments and a surge in (green) growth. However, the likelihood of such a scenario is fading and it seems necessary to invest more research activity and more political attention in alternative scenarios. The resilience of the economic and social order will depend on whether it is possible to establish a prosperity perspective that is independent of growth. With “Renewing Prosperity,” the German Federal Ministry of Economic Affairs and Climate Action has presented some building blocks that can be part of a strategic reorientation.

The influence of the propensity of small-firm managers to enroll in training programs on subsequent training outcome

PurposeThis study examines the relationship between small-firm managers' propensity to participate in a growth-oriented training program and their subsequent program outcome in terms of strategic reorientation. From a policy perspective, this relates to the important question of what benefit would come from recruiting managers who are normally not easily recruitable for training programs.Design/methodology/approachA control group design including pre- and post-training surveys is used to assess the effects of a large-scale management training program. Accounting for selection bias, the difference-in-difference method, together with propensity score matching, was applied to assess average program effects. The matching-smoothing method was used to assess heterogeneity in program effects associated with participation propensity.FindingsOverall, program participation associated positively with change in strategic orientations. This effect was especially pronounced for managers with either low or medium to high inclinations for program enrollment, while diminishing in the modest to medium range.Practical implicationsThe findings have important practical implications for selection of target groups and recruitment strategies in relation to small-firm management training programs. From the results, recruitment strategies may effectively include managers with either high or low participation propensities, rather than aiming to “fill up” with managers with moderately low participation propensity.Originality/valueSeveral extant studies have examined average treatment effects from small-firm training programs. Yet there has been a lack of examination of the extent to which participation propensity modifies the effect of training on outcomes. This study brings new knowledge of the direction and magnitude of such heterogeneous training effects.

Performance effects of sell-offs and the role of sell-off experience

Divestitures are complex events undertaken for various motives and structured in multiple ways. This paper analyzes the long-term effects of sell-offs and sell-off experience on firm performance considering divestiture programs (divestitures using multiple sell-offs, having strategic intent and divestitures explicitly linked to a strategic reorientation). Our analysis reveals a positive effect of sell-offs structured as a divestiture program. However, the results suggest that in the context of such programs, potential learning transfers are outweighed by a negative performance associated with years of restructuring or inherent to firms undergoing a program. This paper contributes to the knowledge on performance effects of divestiture experience and provides evidence of the importance of programs.

Strategic reorientation in the employment industry

Strategic reorientation in the employment industry

Malaria elimination in Zanzibar: where next?

In 2018, Zanzibar developed a national malaria strategic plan IV (2018-2023) to guide elimination of malaria by 2023. We assessed progress in the implementation of malaria activities as part of the end-term review of the strategic plan. The review was done between August and October 2022 following the WHO guideline to assess progress made towards malaria elimination, effectiveness of the health systems in delivering malaria case management; and malaria financing. A desk review examined available malaria data, annual work plans and implementation reports for evidence of implemented malaria activities. This was complemented by field visits to selected health facilities and communities by external experts, and interviews with health management teams and inhabitants to authenticate desk review findings. A steady increase in the annual parasite incidence (API) was observed in Zanzibar, from 2.7 (2017) to 3.6 (2021) cases per 1,000 population with marked heterogeneity between areas. However, about 68% of the detected malaria cases were imported into Zanzibar. Malaria case follow-up and investigation increased from <70% in 2017 to 94% and 96% respectively, in 2021. The review noted a 3.7-fold increase of the health allocation in the country's budget, from 31.7 million USD (2017/18) to 117.3 million USD (2022/23) but malaria allocation remained low (<1%). The varying transmission levels in the islands suggest a need for strategic re-orientation of the elimination attempts from a national-wide to a sub-national agenda. We recommend increasing malaria allocation from the health budget to ensure sustainability of malaria elimination interventions.

A Change of Tune: The Democratization of Market Mediation and Crossover Production in the U.S. Commercial Music Industry

This article examines whether intermediaries and consumers exert similar influence on producers’ boundary-spanning efforts. I propose that boundary spanning is primarily constrained by intermediaries specialized in the market, not by consumers. Consequently, producers are more likely to obscure boundaries when intermediaries’ power weakens. To test these ideas, I exploit a natural experiment that shifted the hitmaking power of genre-specific radio stations to general consumers and thus partially democratized the market mediation structure of the U.S. commercial music industry. The results indicate that after democratization occurred in 2012, record labels were more likely to introduce crossover offerings that incorporated features from other popular genres. Through mechanism triangulation efforts, I found that strategic reorientation, or producers’ attempt to appeal to a broader spectrum of consumers across genre lines, plausibly explains the crossover effect. This study highlights democratizing changes that dilute intermediaries’ influence as a novel explanation of why constraints on producers’ boundary decisions have weakened in some markets. The findings suggest that intermediaries’ and consumers’ expectations may diverge, acting as conflicting forces that organizations must carefully manage. Many organizations closely monitor intermediaries that are deemed influential, but their influence should not be taken for granted as marketplaces empower consumers and become more democratized.

Pivots as strategic responses to crises: Evidence from Italian companies navigating Covid-19

The Covid-19 outbreak in 2019 and beyond severely threatened global supply chains and markets. Firms worldwide saw their operations limited by governmental restrictions, compromising the viability of their business models and challenging previously established assumptions. This situation offered an opportunity to investigate new ventures’ processes of business model transformation (or pivoting) during a major crisis. Specifically, adopting a multiple case study design, we investigated how four Italian firms operating throughout the Covid-19 emergency pivoted in response to the crisis. We develop a conceptual model of pivots-as-process that comprises three stages: reaction to shock, response, and retrospection, leading to longer-term strategic reorientation. Our findings suggest that pivots play out across the three distinct layers of enactment, reflection, and awareness. Our study contributes to the ongoing debate on strategic responses to crises, borrowing from the entrepreneurship literature to investigate how pivots can support firms when they are faced with a need for swift responses, while coping with the temporariness that characterizes crisis situations.

Founding Team Human and Social Capital and Strategic Reorientation

Strategic reorientation has long been considered pivotal for the long-term survival of new ventures. However, despite prescriptions regarding the usefulness of strategic reorientation, very few ventures, in fact, reorient. In this paper, we illustrate the antecedent conditions of strategic reorientation. Using the mechanism of problemistic search and screening theory, we hypothesize that a venture's human and financial capital have different effects regarding strategic orientation. We test our theory using a sample of firms who had applied to be a part of an accelerator program and find support for our assertions.

Germany’s Industrial strategy 2030, EU competition policy and the Crisis of New Constitutionalism. (Geo-)political economy of a contested paradigm shift

ABSTRACT In early 2019, the German Ministry of Economic Affairs revealed its National Industrial Strategy 2030. Even though attenuated due to fierce domestic opposition, it marks a shift towards a more selective, interventionist industrial policy. In particular, this shift has instigated far-reaching upheavals in EU competition policy under Franco-German pressure. This article probes into the determinants of this shift in Germany, a country (in-)famous for its allegedly ordoliberal stance, especially with regard to competition policy and EU economic integration. Drawing on regulation and critical state theory, neo-Gramscian IPE as well as historical materialist policy analysis, and based on trade and investment data, document analysis and expert interviews, it reconstructs the crisis tendencies and the constellation of interests and actors which have underpinned this shift in Germany. The article argues that – in face of growing geopolitical rivalries and technological decoupling – the NIS 2030 indicates a strategic re-orientation in relevant parts of the German power bloc towards actively promoting ‘technological sovereignty’ and ‘European champions’, thereby also calling into question an important facet of the EU’s neoliberal new-constitutionalist architecture. However, this re-orientation is deeply contested, revealing growing divisions within German capital along diverging competitive positions and patterns of internationalisation.