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The world in which companies operate today is volatile, uncertain, complex, and ambiguous, thus subjecting contemporary forms to an array of risks that challenge their viability in an increasingly competitive landscape. Organizations that cling to their traditional ways of operating impede their ability to survive while those able to embrace evolving changes and lever their strategic response capabilities (SRCs) will thrive against the odds. The possession of such capabilities has become a prominent explanation for effective adaptation to the impending changes but is rarely analyzed and tested empirically. Strategic adaptation typically assumes innovation as an important component, but we know little about how the innovative processes interact with the firm’s SRCs. Hence, this study investigates these implied relationships to discern their effects on organizational performance and risk outcomes. It explores the effects of SRCs and the role of innovation as intertwined adaptive mechanisms supporting strategic renewal that can attain superior performance and risk effects. The relationships are analyzed based on a large sample of US manufacturing firms over the decade 2010–2019. The study reveals that firms possessing effective SRCs have the ability to exploit opportunities and deflect risky situations to gain favorable performance and risk outcomes. While innovation indeed plays a role, the precise nature and dynamic effect thereof remain inconclusive.

A new era of M&A is emerging, characterized by new wave of strategic investment decision-making practices (SIDMP) toward Industry 4.0 (I4.0) technologies and circular economy. The digital technologies play a significant role in circular economy transitions and companies’ performance This includes investment in capability development, vertical and horizontal integration, effective procurement practices, and effective strategic control mechanisms. The circular economy strategy is more than just recycling and environmental concerns. It unlocks new strategies and new ways of strategic thinking. Its rapid expansion, as a new norm for companies, has characteristics of a fast-expanding market, given its exponential growth. Yet, there is a need to boardrooms commitment and responsibilities including oversight and support and a full-integrated organizational structure, sales, logistics, marketing, production, development, design, supply management, finance, human resources, and legal. To achieve successful implementation of SIDMP and M&A, companies should gather information on environmental, social, and governance issues. Therefore, it is critical to prioritize their strategies and identify areas that present the greatest risk on environmental and social issues including human rights, labor, and ethical issues in the companies supply chain. By creating shared values between society and shareholders, companies can maintain long-term success, legitimacy, and credibility. This chapter offers debate on recent developments in research and practice regarding SIDMP and synergy between I4.0 and circular economy.

Wangjing is a large residential cluster located at the intersection of the Fourth Ring Road and the airport expressway in the northeast part of Beijing. The area is a “suburb” according to official statistics and academic accounts, which often classify urban areas beyond the historical old city as suburbs. Due to its proximity to the airport and major expressways, Wangjing has developed quickly since the late 1990s. As more high-rise luxury apartment buildings get built, the area's population has reached 150,000 as of 2010, including more than 30,000 foreign expatriates living here amid Chinese urban professionals. Across the airport expressway from Wangjing is the 798 Factory, a hip arts quarter developed within a former electronics factory built in the 1950s. Looking for large studio space, a few artists moved into the Bauhaus-style workshops here in the late 1990s, and quickly bookstores, coffee shops, and galleries followed suit. By 2005, the 798 Factory had become the center of the contemporary Chinese art scene and home to many prestigious international galleries. Outside the factory compound is a working-class neighborhood developed in the 1950s to house workers at the nearby factories and their families. The living conditions here have not changed much for decades, with some families still sharing common kitchens and bathrooms with their neighbors in dilapidated apartment buildings. To the west side of Wangjing, after about a 15-minute drive along the Fourth Ring Road, one reaches the Olympic Park, a brand-new area of parks, stadiums, five-star hotels, golf courses, and exclusive gated communities of villas – all developed in the short period before the 2008 Beijing Olympics. Beyond the Fifth Ring Road, one can see many “urban villages,” former agricultural villages that have become populated by migrant workers with low-paid jobs – taxi drivers, construction workers, waiters, nannies, security guards, and street vendors. Unable to afford to live in the central city, migrant workers rent rooms from local peasants at the city's edge. Many of these villages are to be demolished soon to make space for commercial property development, and the migrant worker tenants will have to move to another village farther away from the city.

Consideration needs to be given to the difference [that] the diversity of cities makes to theory.Robinson (2002, p. 549)

In this chapter, we will review the history, deregulation, policy reforms, and airline consolidations and mergers of the Chinese airline industry. The measurement of airline competition in China’s domestic market will also be discussed. Although air deregulation is still ongoing, the Chinese airline industry has become a market-driven business subject to some mild regulations. Then, we will review the impressive development of the high-speed rail (HSR) network in China and its effects on the domestic civil aviation market. In general, previous studies have found that the introduction of HSR services has a significant negative impact on airfare and air travel demand in China. The rapidly expanding network of HSR has important policy implications for Chinese airlines.

Airports and urban developments in their vicinity constitute a highly specialized type of agglomeration based on air connectivity that epitomizes the importance of mobility in the modern service economy. However, in a frictionless world of backyard capitalism and perfect competition, such agglomeration of civil aviation services would not have been necessary. Thus, concepts such as imperfect markets, path dependence, and cumulative causation may be alternatively used to explain the spatial aspects of airport developments. Focusing on “second-nature” concentration, the “new geographical economics” (NGE) literature offers a potential theoretical framework that organizes these concepts into a coherent economic framework. This chapter aims to highlight the unique relevance of the NGE approach in developing an economics-based understanding of the spatial distribution of airports. Drawing from the existing NGE knowledge-base, this conceptual chapter explains that the NGE approach can be adopted as a micro-foundation to show how the spatial aspects of airport development, including core-periphery dynamics of regional disparity and parity, can emerge from economic mechanisms. The chapter concludes with potential implications for airport economics and regional policy, along with the discussion of some of the main critiques of the theory.

The Covid-19 pandemic, which started in China and spread rapidly all over the world in a short time, can be considered as a dynamic struggle that forces all individuals and therefore organizations to act with new strategies. When considered in terms of its effects and consequences, it can even be regarded as the beginning of a new world order. In this new order, individuals who are unintentionally exposed to chaos theories and possible disaster scenarios related to Covid-19, both in their daily life and in organizational life, can make an effort to continue their lives with the increase in their anxiety levels. While this new order, which shakes the vital balance, forces individuals to struggle, the managers of the organization become a part of this struggle. In addition to the individual struggles of the employees, organizations are also in a separate struggle as providing the necessary support. In this chaos environment, it is important that the psychological health of the employees and the strategic moves of the organizations are mutually supportive in order to ensure a healthier working life. Therefore, this research was carried out with the support of current data and literature to evaluate the Covid-19 pandemic under the headings of remote work, work−family balance and the psychological reflections they cause. In this context, the changes caused by covid-19 were evaluated from the employee’s point of view, and inferences were made from the possible consequences of the situation.