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The purpose of this paper is to describe a new way to manage strategic uncertainty, and more specifically to distinguish between “growth options” and “strategic options.”

Evidence adduced consists of a summary of large‐scale empirical analysis and in‐depth case studies in the context of a new theoretical framework for managing strategic risk.

Strategic options are fundamentally different from the more familiar growth options. Rather than create windows on opportunity for new growth they create the possibility of redirecting strategy in established lines of business.

To identify and manage strategic risk effectively requires a portfolio of strategic options. The different levels of the hierarchy must adopt fundamentally different roles that reflect in practice the commonsense notion that senior management must attend to long term, and hence highly uncertain, issues while operating managers tend to shorter time horizons.

This paper describes in practical terms how companies can create “strategic flexibility” without compromising the need to commit, a characteristic that defines the most successful strategies. The concept of “strategic options”, as distinct from “growth options” is new. Many are familiar with the concept of real options, but this important distinction has been overlooked. These ideas will be most valuable to strategic planners, business unit managers, corporate‐level executives, and strategic management scholars and consultants.

The literature is rich with examples that stress the importance of marketers having long‐term customer relationships. Yet, the reality is that while relational attachments can foster benefits, there are many occasions when marketers seek, or are forced, to disband or change the nature of customer relationships. Interestingly however, despite the obviousness of this circumstance, this remains an unexamined strategic condition. In a unique investigation, this article explores the strategic opportunities and conditions that emanate from “relational unrest” in the business‐to‐business marketplace. Consequently, this article notes how sellers can benefit from understanding how to properly manage relational unrest. To address this issue, a strategic framework is proposed, which concludes that when sellers experience relational difficulties, strategic options with positive outcomes and related managerial implications can be associated with this condition.

Based on the dynamic capabilities view, the current study aims to empirically investigate the effects of organizational learning culture (OLC), strategic reconfiguration (SREC) and digital transformation (DT), altogether, on Egyptian private hospitals' strategic renewal in the face of the COVID-19 pandemic.

This study adopted a cross-sectional design to collect the data used to carry out mediation analysis. A self-administered questionnaire was used to collect data from a sample consisted of 264 Egyptian private hospitals. The smart partial least square structural equation modeling technique (PLS-SEM) was adopted to test the hypotheses.

The results demonstrate that OLC directly and positively affects SR. Besides, SREC and DT partially and serially mediate the OLC-SR relationship.

The sample size was small, covering only Egyptian private hospitals. The results may be different in the manufacturing sector and in other countries. The study was cross-sectional which is limited to trace long-term effects of OLC, SREC and DT on SR. Accordingly, a longitudinal study may be undertaken.

Private hospitals' managers must actively explore and dig out valuable resources in order to discover potential information and trends endeavor to redesign internal structures, and reconfigure their current resources, structures and strategies to achieve strategic renewal. The findings also provide new insights to mangers of private sectors' institutions and direct their attention toward adopting the strategic renewal option to survive amidst crises instead of retrenchment, persevering, or quitting business.

The study's results imply that health care providers have sought to improve the capacities of their health care systems to address the patient-level social needs through continuous learning, internal reconfigurations and the transformation toward digitalization to renew their services.

This study therefore contributes to SR literature by being the first empirical study to introduce an integrative model for the antecedents of SR amidst the pandemic.

The purpose of this paper is to draw attention to a void in the literature on enterprise flexibility: The Management Control Systems’ (MCS) role in the enterprise flexibility and stability discussion. MCS can be instrumental in securing an organization’s strategic performance objectives, far beyond the mere managerial control and accounting perspectives of traditional MCS’ roles.

This study is qualitative in nature, and presents a theoretical approach with a conceptual model to address enterprise flexibility and stability jointly; arguing that both should be part of the MCS’ design and implementation with a distinct strategic outlook. Several theoretical and practical arguments are presented which reinforce this thesis.

To operate optimally, enterprises must be able to manage their limited resources in efficient and effective manner. This is especially so when dealing with uncertainty and contingencies on an ongoing basis, while following a defined strategic choice. Such choices are expected to mirror enterprise flexibility types and measures without neglecting enterprise stability requirements, linking both to strategic performance measurement indicators.

Further work is needed to explore not only how different types of enterprise flexibility and stability measures can bring additional benefits to the firm but also how best to apply such types in accordance with business and operations strategies, organizational stability requirements and management control strategies.

MCS can and should take part of an organization’s strategic performance measures but these are to be understood from a systemic design perspective of the enterprise system’s metacontrollability, addressing flexibility and stability jointly.

There is a need to reevaluate the role of MCS and their strategic potential. The approach presented can have valuable potential ramifications and insights for management and information sciences as well as for the enterprise management practitioners as a whole.

This paper provides original research on enterprise flexibility and stability analysis, covering all aspects of MC and its role on the enterprise’s metacontrollability. Design and coordination of the seven basic elements which comprise MCS are analyzed, as well as how they influence one another. The paper includes two tables to illustrate the approach being proposed. Table I presents a classification of the literature reviewed in the paper while Table AI presents the choice of the theoretical lens on enterprise flexibility from other authors which contrasts with the model proposed. The role of MCS in the enterprise is also included.

This paper seeks to provide an overview on potential impacts German primary life insurers are exposed to in relation to upcoming Solvency II regulation and potential strategic choices, especially in the light of halting low‐interest rates. Given a large degree of complexity, the paper aims at giving some guidance to decision makers considering a discontinuation of underwriting.

The paper builds upon current observations made in the German primary life insurance industry, especially, recent strategic decisions of two market participants to discontinue their life insurance carriers. On the background of low‐interest rates but yet guaranteed interest participations and additional capital requirements arising from Solvency II, the paper illustrates the strategic options life insurers have in the German market, given the specific market environment.

Regulatory capital requirements of Solvency II will sanction guarantee products in a way that for some insurers life products will become unattractive. As there is evidence in the market that some participants have started to consider the run‐off option for selected carriers, the paper finds that this option may represent an appropriate consequence not only for foreign insurers ceasing their business in Germany but also for domestic insurance groups. Given the specific rules‐in‐use in the German primary life insurance market, the paper discusses the controlled run‐off approach as a strategic option for selected life insurers, enabling a harvesting strategy through maximizing cash flows from existing liabilities while avoiding further investments.

Discussions in this paper help to bring into focus the strong challenges by both the upcoming regulatory Solvency II and current market conditions. The brief case study included in this paper may illustrate the implications as well as some crucial success factors of discontinued life business.

The purpose of this paper is to highlight the business growth opportunities available from franchising in the UK and abroad.

The paper presents the value of franchising for strategic business development.

The paper finds that franchising is becoming one of the most popular methods for growing a business, particularly where international growth is an objective. It should be seriously considered by any business which operates through a network of outlets.

Just about any business that operates through a branch network could benefit from considering franchising as a development option. In simple terms, the advantages include quicker growth through more highly motivated operators, using someone else's money and effort, to open and run the outlets.

The paper highlights franchising as a development option for businesses that operate through a branch network.

Given the nature of corona chaos, tech startups confront strategic disorientation; therefore, this study aims to constructively engage with the theory development process in the area of management decision, adopt causal complexity with a configurational approach of McKinsey's 5R paradigm and the Newtonian gravitational field.

This study provides a novel conceptualization of systematic research of explanatory mechanisms for navigating the turbulence and consequences of the COVID-19 crisis. This configurational study shows how European tech startups adopt strategies in addressing COVID-19 challenges successfully.

The analysis reveals configurations that lead to the outcome of the conceptual model, namely, reimagining the equifinal paths to the next normal. The findings suggest that, in navigating the crisis, tech startups are able to seize market opportunities, capture technological opportunities and consolidate their future positions.

The principal limitation consists of limited empirical evidence regarding tech startups’ ability to navigate Covid-19 crisis and choose the appropriate path to the next normal.

This study enhances European tech startups’ capability to adopt reflexivity and openness while navigating the Covid-19 chaotic context. Furthermore, the study provides a managerial toolkit to guide strategic decisions via deepening their understanding of the new created realities.

This study provides a novel conceptualization of systematic research on explanatory mechanisms for navigating the turbulence and consequences of the COVID-19 crisis context. This configurational study shows how European tech startups adopt strategies that address COVID-19 challenges successfully.

Retail marketing: it can be discussed in a retail marketing course to explain the growth and expansion of the retail chain and illustrate the features of a retail model that can consider franchise as a method to expand or distribute its branded merchandise in other retail outlets. The case will also help assess the financially viable growth. Marketing Management: It can be useful for a comprehensive yet straightforward explanation of marketing mix price, promotion, place, and product, also at the same time it serves to explain the importance of customer service in terms of retailing. Strategic Marketing: The case provides varied growth options that are being considered by retail organizations, which gives the student real-time opportunity to arrive at strategic decisions by considering financial viability, internal strengths (SWOT analysis), franchising as a growth option.

This case can be used in foundation course on retail marketing or even in strategic marketing in postgraduate management program, or the dilemma can be explained as a part of a marketing course for postgraduate, executive programs, management development programs.

Kanwar, the owner of 39 Bakers, was one of the fastest-growing retail outlets in Jammu, India. He had been successful in carving his pie for himself with its unique bakery products of more than 1000 variety of, break-even point price, everyday surprise product (EDSP), reasonable price, open kitchen concept, hygiene, excellent customer service. Within three years, 39 Bakers had grown from one to eight outlets, and revenue had increased to US$68,621, and vision was to achieve US$2m within the next three years. To achieve his vision, he made two business expansion plans either to start product distribution to other retailers like an FMCG company or to go ahead with the business format franchising model. The investors needed a detailed planned within three days. But Kanwar had to decide should he expand geographically and start with franchise model or shall he establish his brand with product distribution, and then go for the franchise model, which plan would make him reach his vision by 2023? Which strategy would be efficient? He indeed wanted to go for the franchise model, but the question is when?

This case will help entrepreneurs to decide on services and retail industries to expand their business and explore available growth options. It offers a platform to talk about how often franchising used to fuel growth. Either you select to be a franchisee or independent business owner or provide franchising opportunities or start your distribution network, a detailed business plan is one of the most critical decision-making activities. Without adequate details, it can make your life's most expensive option. After students have worked on the case and the task questions, the students can analyze whether a company should grow through product distribution, franchise or both; appreciate the significance of a business plan and to recognize all aspects of a retail operation, including the marketing mix; carry out strengths, weakness, opportunities, threats analysis and can develop Internal and External Factor Evaluation Matrix (IFE AND EFE); and examine various franchise options available for business expansion in a developing econ.

Position in course – This case can be used in foundation course on retail marketing or even in strategic marketing in postgraduate management program, or the dilemma can be explained as a part of a marketing course for postgraduate, executive programs and management development programs.

Teaching notes are available for educators only.

CSS: 8 Marketing.

The purpose of this paper is to present the Business Strategy Assessment Model (BSAM) approach, in an attempt to explore the principle dynamics of an energy‐economic system with emphasis on the private actors' point of view and the impact different policy instruments may have on the decisions of private actors with different characteristics.

In the BSAM model, investment decisions under consideration depend on their perceived financial value. Basis for the financial valuation of an investment option is formed by simulating market dynamics with alternative price scenarios. The outputs include: investment strategies, derived as a function of the (uncertain) state vector of future market conditions and risk premium, calculated by contrasting the expected net present value for the optimal timing of the investment and the expected net present value of an immediate investment generation module of the BSAM, while both of these outputs are estimated for each available technology option.

Different models make different assumptions shedding light upon different aspects of the socio‐economic systems they attempt to analyze and hitherto, no such model succeeds in incorporating all the perceptions that are driving the integration of energy policies. BSAM is based on the notion that a convergence between policy evaluation and business strategy assessment models could be truly beneficial for regulators that aim to derive effective energy policies. Both the algorithm adopted and the structure of the modules of BSAM facilitate the analysis of complex interactions in a firm's decision making process, and even more the what‐if analyses needed for alternative policy measure evaluation.

Setting the framework for a modelling approach that incorporates the role of risk‐return perceptions of private actor's with diverse features, portfolio effects, path dependence and agent competition, into appraising energy and climate policies, and suggest that the heterogeneous world of investors requires reflexive assessment techniques. Above and beyond, understanding the drivers and triggers of firm's investment strategies will allow improving the effectiveness of energy policies.