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This paper introduces the volume on Resource Redeployment and Corporate Strategy, which is devoted to exploring a relatively new justification for how multi-business firms create value – having flexibility to internally redistribute non-financial resources across their businesses. We clarify how a theory around resource flexibility differs from other theories of how multi-business firms create value. We then synthesize the collection of papers in this volume and describe how they contribute to this line of inquiry. Finally, we offer our own views on opportunities for elaboration of this theory.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

According to Alan Kay, inventing the future is the best way of predicting what is going to happen. However, the wise words of this eminent US computer scientist are not taken on board in every company. Such firms are skeptical towards innovation and accordingly cagey in their approach. There is no denying that innovation equals uncertainty and is clearly a risk‐laden pursuit at the best of times. Many organizations therefore play safe by confining their search for new knowledge to existing domains. This means that specific ways of thinking dominate and management is biased towards channels it is already familiar with. Some might argue that sticking to the tried and trusted makes sense. However, any reluctance to look further afield for solutions hardly maximizes the chances of success. And adopting a narrow focus raises the danger of complacency creeping into the equation. Why? Because some leaders suppose that familiarity with the research domain will make innovations easier to identify. In the long run, that can prove a costly assumption to make.

Organizations can enhance prospects of successful innovation by setting broader objectives and considering knowledge and information from a wide variety of sources. A funding bias towards projects with greater potential should be adopted.

Exploring potential new energy sources and technological advancements can help firms to operate more efficiently and reduce their carbon footprint.

The briefing saves busy executives and researchers' hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.