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Purpose: This study examines the effect of uncertainties on the hospitality industry from different perspectives across the globe. The hospitality industry faces several contemporary issues and challenges that have the potential to impact its growth and development. This study aims to analyse the current problems and uncertainties in the hospitality sector.

Need for the Study: The hospitality industry plays a significant role in the global economy with various services, including accommodation, food and beverage, events, and tourism. However, the sector faces several contemporary issues and challenges that have the potential to impact its growth and development. This study provides an overview of the most significant problems and challenges facing the hospitality industry today.

Methodology: A systematic literature review was conducted to identify and synthesise relevant studies on the effect of uncertainties issues on the hospitality industry. A systematic search of the Web of Science and Scopus databases was conducted to determine relevant studies published between 2010 and 2021. Studies were screened and selected based on pre-defined inclusion and exclusion criteria. A thematic analysis was performed to categorise the uncertainties and issues in the hospitality industry.

Findings: The study identified several uncertainties and issues facing the hospitality industry, including the pandemic uncertainties, financial crisis, whether positive and negative impacts, terrorism attacks on hotels and tourist places, uncertainties in government policies, situational risks like uncertainties, ambiguity, cultural differences, changes in tourist preferences and changing habits of the tourist.

The primary aim of this research was to investigate the mediating effect of the decision-making structure on the relationship between perceived environmental uncertainty and hospital performance.

Online and manual survey questionnaires were used to collect data in this study. The target population of this study consists of all middle managers within 11 COVID-19 referral hospitals in Surabaya. A total of 189 responses were collected, however, 27 incomplete responses were excluded from the final dataset. Data was analyzed using SEM-PLS.

The study's findings indicate that decision-making structure plays a role in mediating the link between perceived environmental uncertainty and hospital performance assessed via the Balanced Scorecard, highlighting the significance of flexible decision-making processes during uncertain periods. Moreover, based on our supplementary test, respondents' demographic characteristics influence their perceptions of hospital performance.

Hospital administrators can consider the significance of decision-making structures in responding to environmental uncertainties like the COVID-19 pandemic. By fostering adaptable decision-making processes and empowering middle managers, hospitals may enhance their performance and resilience in challenging situations. Additionally, based on supplementary tests, it is found that differences in the perception of the three Balanced Scorecard perspectives imply that hospitals categorized as types A, B, C, and D should prioritize specific areas to improve their overall performance.

This research adds substantial originality and value to the existing body of knowledge by exploring the interplay between decision-making structures, environmental uncertainty, and hospital performance. It contributes to the literature by specifically focusing on the Covid-19 pandemic, a unique and unprecedented global crisis.

Research on leaders’ knowledge management systems focuses exclusively on how leaders gather and disseminate knowledge in collaboration with external actors. Not much is known about how leaders address the psychological aspects of employees and strategize internal communication. In addition, while previous work has treated high uncertainty as a default feature of crisis, this study aims to propose that perceived uncertainty varies in experience/meaning and has a crucial bearing on the relative balance of cognitive/emotional load on the leader and behavioral/psychological responses.

The authors contribute by qualitatively examining the role of leader knowledge systems in designing communication strategies in the context of the COVID-19 crisis by investigating communication characteristics, style, modes and the relatively unaddressed role of compassion/persuasion. In this pursuit, the authors interviewed 21 C-suite leaders, including chief executive officers, chief marketing officers, chief financial officers, chief human resource officers and founders, and analyzed their data using open, axial and selective coding, which were later extracted for representative themes and overarching dimensions.

Drawing from grounded theory research, the authors present a framework of knowledge systems and their resultant communication with employees in high uncertain and low uncertain crises. The authors highlight interactions of a set of concepts – leaders’ preparedness, leaders’ support to employees tailored communication adapted to perceived uncertainty, leading to enhanced trust – in the achievement of outcomes related to balancing operational and relational systems with employees. The findings suggest that a structured process of communication helps employees mitigate any concern related to uncertainty and feel confident in their leadership.

The research has implications for leaders in managing their knowledge systems, for human esources practitioners in designing effective internal communication programs, as well as for scholars in knowledge management, communication and leadership.

Purpose: The study aims to analyse and discuss the effect of COVID-19 on businesses. The chapter discusses the various machine learning (ML) tools and techniques, which can help in better decision making by businesses in the present world.

Need for the Study: COVID-19 has increased the role of VUCA elements in the business environment, and there is a need to address the challenges faced by businesses in such environment. ML and artificial learning can help businesses in facing such challenges.

Methodology: The focus and approach of the chapter are in the context of using artificial intelligence (AI) and ML techniques for decision making during the COVID-19 pandemic in a VUCA business environment.

Findings: The key findings and their implications emphasise the importance of understanding and implementing AI and ML techniques in business strategies during times of crisis.

Practical Implications: The chapter’s content is in the context of using AI and ML techniques during the COVID-19 pandemic and in a VUCA business environment.

The paper aims to propose and validate a process-based model to enhance managerial effectiveness among micro, small and medium enterprises (MSMEs). It has been observed that business uncertainties and inadequate financial resources that MSME entrepreneurs and managers face require them to constantly engage in strong self-awareness and self-regulating behavior to enhance the efficacy in their roles and, henceforth, their role performance effectiveness.

The approach for data collection was based on the clustering of MSMEs belonging to the clusters machine tool, pump manufacturing, foundry, textile and auto-component clusters in India. The respondents to the study were MSME entrepreneurs and managers who oversee and manage multiple functions like operations, quality, marketing, sales, supply chain management, procurement, personnel and administration and general administration.

The self-efficacy of entrepreneurial managers of MSMEs is observed to play an integral role in enhancing the efficacy of their roles, thus highlighting the use of a process-based perspective while dealing with constant resource constraints and excessive dynamism in their business contexts. The ability to handle multiple tasks effectively and resilience to manage challenges enhances their role-making process, which is significant in achieving and sustaining goal-oriented behavior among MSME entrepreneurs and managers.

This paper would serve as an effective model for entrepreneurs and managers to enhance their efficacy in the individual and interdependent role context, which would help achieve their individual and organizational goals. The model emphasizes a process-based perspective that thrusts the need to relate to the organizational context, enhancing individual confidence for goal-related behavior and fulfilling their role-related expectations.

This paper presents a model of enhancing managerial effectiveness that discusses self-efficacy as antecedent behavior. Here, personal and environmental factors aid cognition to one’s capability to construct reality, self-regulate, encode information and engage in effective managerial action.

The study aims to examine the influence of female chief executive officer (CEO) and female chief financial officer (CFO) on the linkage between internationalization and firm performance.

This study used 2926 firm-year observations of nonfinancial firms listed on the Pakistan Stock Exchange over the period 2012–2021. This study used ordinary least squares regression method to test the hypotheses, and additionally, generalized method of moments estimation and fixed effect analysis were used to check for the robustness of the results.

Using the framework of upper echelons theory and resource dependence theory, this study reports that internationalization has a positive impact on firm performance. Moreover, the results show that the presence of female CEO and female CFO strengthens the positive relationship between internationalization and firm performance. The results add to the gender diversity literature by highlighting the positive role of female CEOs and female CFOs on the internationalization and performance of firms in a male-dominated society.

This study adds to the limited literature on the internationalization of businesses in an emerging market and provides empirical support to upper echelons theory and resource dependence theory by highlighting the benefits brought to the firm through female CEOs and female CFOs.

Digital platforms (DP) are transforming service delivery and affecting associated actors. The position of DPs is impacted by the regulations. However, emerging economies often lack the regulatory environment to support DPs. This paper aims to explore the regulatory developments for DPs using the multi-level perspective (MLP).

The paper explores regulatory developments of ride-hailing platforms (RHPs) in India and their impacts. This study uses qualitative interview data from platform representatives, bureaucrats, drivers, experts and policy documents.

Regulatory developments in the ride-hailing space cannot be explained as a linear progression. The static institutional assumptions, especially without considering the multi-actors and multi-levels in policy formulation, do not serve associated actors adequately in different times and spaces. The RHPs regulations must consider the perspective of new RHPs and the support available to them. Non-consideration of short- and long-term perspectives of RHPs may have unequal outcomes for established and new RHPs.

This research has implications for the digital economy regulatory ecosystem, DPs and implications for policymakers. Though the data from legal documents and qualitative interviews is adequate, transactional data from the RHPs and interviews with judiciary actors would have been insightful.

The study provides insights into critical aspects of regulatory evolution, governance and regulatory impact on the DPs’ ecosystem. The right balance of regulations according to the business models of DPs allows DPs to have space for growth and development of the platform ecosystem.

This research shows the interactions in the digital space and how regulations can impact various actors. A balanced policy can guide the paths of DPs to have equal opportunities.

DP regulations have a complex structure. The paper studies regulatory developments of DPs and the impacts of governance and controls on associated players and platform ecosystems.

Introduction: The COVID-19 pandemic was unprecedented, and none of the world’s think tanks could have predicted how far it would spread. People visualise the pandemic as a classic example of a VUCA environment (an environment characterised by volatility, uncertainty, complexity, and ambiguity). Managing COVID-19 requires unique and different leadership qualities.

Purpose: This study’s rationale emphasises that VUCA demands strategic and agile leadership. Leaders across the globe must acknowledge the fact that the elements of VUCA, i.e. volatility, uncertainty, complexity, and ambiguity, are not synonymous and hence need differential treatment. Also, recommend adopting agile leadership to tackle the VUCA world.

Methodology: This is a conceptual study focusing on agile leadership. The study addresses the challenge of leading in the VUCA environment. The constituting components of VUCA are differentiated, followed by an extensive literature review of agile leadership.

Findings: VUCA is the new normal and is there to stay. Business leaders still need to counter VUCA due to their incapacity to distinguish and treat the components equally. Furthermore, there is an emergent need to develop an agile workforce, agile organisations, and agile leadership to combat VUCA. The study indicates that business leaders must be agile enough to handle the COVID-19 pandemic and future crises. There is a constant need to ensure agility. This study will provide a deep insight into VUCA and help business leaders emerge victorious in turbulent times.

Introduction: The pandemic era has given rise to emerging VUCA factors, characterised by volatility, uncertainty, complexity, and ambiguity. Navigating the impact of these challenges is essential for adapting and thriving in a post-pandemic world; therefore, it is important to identify VUCA factors.

Purpose: The purpose of this study is to identify and analyse the VUCA factors that emerged during the COVID-19 pandemic, focusing on sectors such as hospitality, tourism, education, construction, manufacturing, Information Technology, healthcare, and automobiles.

Need for the Study: Analysing emerging VUCA factors is crucial for businesses to prepare for unforeseen events. While VUCA factors were previously studied during significant events like the Greater Recession, BREXIT, and demonetisation, the pandemic has presented unprecedented challenges, making the identification of emerging VUCA components crucial.

Methodology: The methodology involves reviewing articles and research papers to understand the pandemic’s impact on various sectors. The findings provide insights into prominent VUCA factors and their implications for businesses, contributing to existing knowledge.

Findings: This research uncovers the challenges organisations encountered in the pandemic’s VUCA environment, offering insights into uncertainties and strategies for survival. It highlights the importance of adaptability, resilience, and innovation in overcoming VUCA’s negative impacts and establishing a new business paradigm.

Practical Implications: This chapter is essential in providing valuable insights for organisations, policymakers, and businesses on crisis preparedness, emphasising the significance of agility, robust contingency planning, and sector-specific considerations. Reviewing operations and implementing backup plans, businesses can develop effective strategies for long-term resilience and success in the face of unforeseen disruptions.

Intellectual capital (IC) plays a crucial role in today’s volatile business landscape, yet its measurement remains complex. To better navigate these challenges, the authors propose the Integrated Intellectual Capital Measurement (IICM) model, an innovative, robust and comprehensive framework designed to capture IC amid business uncertainty. This study focuses on IC measurement models, typically reliant on secondary data, thus distinguishing it from conventional IC studies.

The authors conducted a systematic literature review (SLR) and bibliometric analysis across Web of Science, Scopus and EBSCO Business Source Ultimate in February 2023. This yielded 2,709 IC measurement studies, from which the authors selected 27 quantitative papers published from 1985 to 2023.

The analysis revealed no single, universally accepted approach for measuring IC, with company attributes such as size, industry and location significantly influencing IC measurement methods. A key finding is human capital’s critical yet underrepresented role in firm competitiveness, which the IICM model aims to elevate.

This is the first SLR focused on IC measurement amid business uncertainty, providing insights for better management and navigating turbulence. The authors envisage future research exploring the interplay between IC components, technology, innovation and network-building strategies for business resilience. Additionally, there is a need to understand better the IC’s impact on specific industries (automotive, transportation and hospitality), Social Development Goals and digital transformation performance.