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The relevance of finance for strategy is probably never greater than during a recession. We argue that the strategy literature has been virtually silent on the issue of recessions, and that this constitutes a regrettable sin of omission. Recessions are also periods when the commonly held view of financial markets in the strategy literature – efficient, and therefore strategically irrelevant – is particularly misplaced. A key route to rectify this omission is to focus on how recessions affect investment behavior, and thereby firms’ stocks of assets and capabilities which ultimately will affect competitive outcomes. In the present chapter, we aim to contribute by analyzing how two key aspects of recessions, demand reductions and reductions in credit availability, affect three different types of investments: physical capital, R&D and innovation, and human- and organizational capital. We synthesize and conceptualize insights from finance- and macroeconomics about how recessions affect different types of investments and find that recessions not only affect the level of investment, but also the composition of investments. Some of these effects are quite counterintuitive. For example, investments in R&D are both more and less sensitive to credit constraints than physical capital is, depending on available internal finance. Investments in human capital grow as demand falls, and both R&D and human capital investments show important nonlinearities with respect to changes in demand.

We extend the Jones (1971) analysis of the effects of distortions in 2×2 trade models to the case of a two-sector dynamic general equilibrium model of a small open economy with capital accumulation. We do a comparative steady state analysis for the effect of policy changes on factor prices and the capital stock, and examine the dynamics of the system in the neighborhood of the steady state. We also show that the system will have multiple equilibria when value and physical factor intensity rankings of the sectors do not agree.

The root of urban poverty and inequality often results from limited economic opportunity. Yet, often this perception of lack of opportunity is centered on the early stages of new venture formation, with only limited attention to venture growth and expansion. In this study, we explore the intersection of social venturing and community economic redevelopment to address this gap in the literature. We examine how venturing under conditions of limited economic opportunities occurs not just at the formation stages but also throughout the venturing life cycle. Specifically, we examine how ventures formed in distressed, urban neighborhoods face unique challenges when scaling up their operations. These challenges relate to securing and leveraging four types of capital: financial, physical, human, and social. We employ a case study methodology to examine these scaling challenges and the strategies the organization employed to overcome location disadvantages.

This chapter makes a case for extending institutional preservation strategies to the entire landscape of knowledge capital. First, the authors define the three primary types of capital – physical, financial, and knowledge. Knowledge capital is further broken down into three categories – human, structural, and relational. The individual types of knowledge capital are defined, along with their variant economic properties and behaviors. The challenges these variations present for preservation are discussed. The authors also highlight these assets’ significant opportunities for curating new knowledge. Each type of knowledge capital is described, along with the preservation challenges and the curation opportunities.

The notion of sustainability broadly builds upon the development of the present without hampering the needs of the future generation. Accordingly, the contemporary development programmes, in general, emphasise on minimising the adverse bearings of climate change and arresting the irreversible ecological degradation following the implementation of the growth-oriented economic models. While such idea of sustainable development is expected to be applied across different sectors, the traditional urban development projects such as the Integrated Development of Small and Medium Towns (IDSMT) (1979), the Mega-City Scheme (1993), and the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) (2005) focussed mainly on physical infrastructure with inadequate emphasis on the ecological aspects and sustainability. However, with the experiences of globalisation and the negative impact of changing climate, the recent urban development initiatives across the world have gone through considerable redesigning, and the idea of eco-city, compact city, sustainable city, etc., have taken the central place in the project proposals. In this connection, the Smart City Mission (SCM) (2015) of the Government of India has emerged as an important initiative to facilitate improvement in the standard of living along with economic growth through the development of urban infrastructure and integration with intelligent technologies. This chapter attempts to understand how the projects under the SCM have incorporated various ecological aspects to transform the cities into liveable and sustainable ones for the future generation. Using secondary data and carrying out a comparative analysis of selected smart city proposals, this chapter finds that there is still a lack of adequate emphasis on ecological sustainability in many smart city proposals. This chapter suggests revisiting the smart city proposals, and initiatives should be made towards the development of urban areas in a sustainable way.

Previously disregarded factors are now included in development theory and practice. A narrow understanding of capital has had profound effects on development as well as on tourism policy and governance. In this framework, purpose-designed tourism for development has been the exception. Contemporary ideas of other forms of capital playing a key role in a broader concept of development are examined, specifically the central function of human and social-institutional capital. Human capital is seen in the light of capabilities, attributes, and knowledge possessed by individuals. Social-institutional capital may empower individuals as it refers to the value of trust and cooperation deriving from formal and informal sets of behavioral rules. This chapter clarifies the foundations of tourism as an instrument for development if tourism policy and governance are designed and implemented within an adequate framework.

In this chapter, the authors highlight the emerging discipline of network sciences and the evolution and adaptation of human networks. The change is considered in the context of a shifting economic landscape and the importance of knowledge in the twenty-first-century knowledge economy. The chapter offers a fundamental definition of networks and explores the shifting geography of networks. Specifically, the authors explore door-to-door, place-to-place, and person-to-person network geographies. The authors model economic systems as networks and explain the role of human, structural, and relational capital as nodes, messages, and links in networks.