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A diagnostic tool to determine a strategic improvisation readiness index score (IRIS) to survive, adapt, and thrive in a crisis

journal contribution
posted on 29.05.2020 by Paul Hughes, Robert E. Morgan, Ian Hodgkinson, Yiannis Kouropalatis, Adam Lindgreen
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.

History

School

  • Business and Economics

Department

  • Business

Published in

Industrial Marketing Management

Volume

88

Pages

485 - 499

Publisher

Elsevier

Version

AM (Accepted Manuscript)

Rights holder

© Elsevier Inc.

Publisher statement

This paper was accepted for publication in the journal Industrial Marketing Management and the definitive published version is available at https://doi.org/10.1016/j.indmarman.2020.05.020.

Acceptance date

21/05/2020

Publication date

2020-07-14

Copyright date

2020

ISSN

0019-8501

Language

en

Depositor

Prof Ian Hodgkinson. Deposit date: 29 May 2020

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