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The purpose of this study was to examine the impact of strategic leadership (SL) on business operational resilience (OR) in the hotel industry in Egypt, namely, during and after the pandemic. This investigation also aimed to explore the mediating function of crisis response strategies (CRSs) and organisational e-readiness (Oe-R) in this relationship.

The researchers conducted a cross-sectional study using a questionnaire as the primary data collection method. Using partial least squares structural equation simulation (PLS-SEM), the study used a comprehensive sample that targets the general managers of all five-star hotels in Egypt.

Results indicated that SL has a positive impact on CRSs and Oe-R. Furthermore, the results reveal a positive influence of Oe-R on both CRSs and hotel OR. On the other hand, CRSs do not influence hotel OR. The findings showed that CRSs fully mediate the link between SL and OR. However, CRSs do not serve as a mediator between Oe-R and OR. Furthermore, the findings showed that Oe-R partially mediates the link between SL and both OR and CRSs.

The study yields unique and valuable theoretical and practical insights to guide hotel leaders and managers towards adaptive recovery and resilience in turbulent and crisis-ridden environments by demonstrating that the combined mediating function of CRS and Oe-R is more effective in strengthening the relationship between SL and OR.

This study represents a pioneering investigation that establishes a correlation between SL and OR, either through direct or indirect means. The research examines the involvement of CRSs and Oe-R as collaborative mediators in this relationship. Previous studies undertaken in the hotel industry and service sector have not investigated this specific element.

This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.

This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.

Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.

This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.

Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.

The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.

This paper has a dual purpose. The first is to provide a thorough analysis of developments in international marketing in relation to the coronavirus disease 2019 (COVID-19) pandemic; the second is to capitalize on these developments to set an agenda for future research in the field of international marketing.

This paper zooms in on and reviews the 18 papers published in International Marketing Review’s (IMR) Special Issue on “Covid 19: advancing international marketing theory and guiding practice” (2023, volume 40, issue 5). It also integrates recent research at the intersection of international marketing and the COVID-19 pandemic.

The paper highlights five areas that embody significant contemporaneous changes brought about by the COVID-19 pandemic and affect international marketing practice. These include (1) shifts in consumer behavior, (2) digitalization and artificial intelligence, (3) disruptions in supply chains, (4) communication and corporate social responsibility (CSR), and (5) international dynamic marketing capabilities. In order to advance international marketing theory in relation to pandemics and other external crises, the paper establishes research directions for each of these areas.

The paper provides a novel and comprehensive categorization of fundamental shifts caused by the COVID-19 pandemic and lays out a research roadmap to advance research in the field of International Marketing (IM). Important implications for practice are also discussed.

The purpose of this paper is to systematically review the resilience literature to integrate the fragmented views and provide a more comprehensive understanding. This study aims to fill the gaps in the literature by discussing scientific contributions and highlighting the main issues in previous research findings regarding the definitions, dimensions and concepts that make up organizational resilience. This research highlights organizational resilience from a capabilities perspective.

This paper uses the systematic literature review method by searching all previous studies studying organizational resilience from 2014 to 2023. In total, there are 28 articles reviewed from the Scopus database.

This study found that resilience is a complex concept and has many definitions and dimensions. This study also conceptualizes organizational capability with a pyramid, which illustrates the basic framework of the six stages of the resilience process and hierarchically forms organizational resilience.

First, the keyword search strings on the repository database are currently limited to a few keywords. Need to broaden the range of keywords so as to produce a more comprehensive review. Second, the exclusion of books, book chapters and conference papers limits research findings and results. These sources are likely to enrich resilience development from various perspectives. Even though Scopus is the largest repository database, the research findings are not yet fully generalizable. Future researchers can add data from WoS, Ebsco or other databases. Literature obtained from various databases that can provide broader results.

The practical implications of this study are to provide a basis for managers in making decisions for organizational sustainability. Managers can consider each stage in the resilience capability pyramid as a reference for making strategic plans and relational orientation toward organizational members.

This research provides a hierarchical perspective on organizational resilience capabilities. For academics and practitioners, this study provides a critical and comprehensive systematization of the limited academic literature on resilience. This study also offers opportunities for further research to overcome the limitations of empirical testing of resilience capability construction using various theories and methodologies.

This chapter discusses how the real options theory can be useful for understanding the adoption of human resources management (HRM) practices. The authors review how the real options theory has provided insights into the processes through which firms manage uncertainties involved in the adoption of HRM practices. The authors offer propositions for future HRM research from the real options perspective. The authors contend that analyzing HRM practice adoptions through the lens of real options theory can enhance our understanding of the mechanisms through which firms choose which HRM practices to adopt and how they adjust the timing, scale, and methods of investment in these practices. Specifically, the authors suggest that differences in information relevant to valuation of HRM options are the source of distinct choices of HRM options across firms. Finally, the authors propose advancing knowledge on HRM practice adoptions by using a portfolio of options approach, as well as considering factors like competitors, path dependence, and switching options.

Manufacturing capability is a crucial component of every nation’s economy and pharmaceuticals are frequently a significant part of the manufacturing sector. Pharmaceutical supply chains are essential to health-care systems, contributing to living quality and shorter hospital stays. This study aims to examine the role of multiple integrations on business performance (BP) through supply chain flexibility (SCF) and supply chain agility (SCA).

Data was collected from 198 supply chain professionals in the pharmaceutical sector of the developing economy of Pakistan. The sample was collected based on a nonprobability purposive sampling approach. A five-point Likert-scale survey was used and analyzed with the PLS-SEM technique using SmartPLS 4.

This study found that process integration (PI) does not affect SCA, whereas relationship integration and measurement integration positively affect SCA. SCA positively impacts BP. In contrast, all integrations significantly influenced supply flexibility and BP except for PI. Finally, SCF significantly mediates the relationship between all integrations and BP.

This study examined the relationships of multiple integrations on BP, directly and indirectly, through SCF and agility. The theory of dynamic capabilities has been applied and extended to increase the comprehensiveness of the findings. A developing economy’s pharmaceutical industry supply chain was examined, producing empirical evidence of the results.

Social media is booming in the digital age, and its rich availability provides many opportunities for companies to innovate across borders. In reality, how enterprises use social media to achieve cross-border innovation also faces important challenges such as breaking path dependency.

This paper explores how social media can facilitate cross-border innovation from the perspective of strategic capability, combined with the path dependency theory and attention-based view. Hierarchical regression analysis and bootstrap method are adopted to test the hypotheses based on survey data provided by 173 firms in China.

The findings show a positive relationship between social media strategic capability and cross-border innovation, with path dependency playing a mediating role. In addition, two internal and external contextual factors, namely customer embeddedness and competitive pressure, play moderating roles, with customer embeddedness negatively moderating the negative relationship between social media strategic capability and path dependency and competitive pressure negatively moderating the negative relationship between path dependency and cross-border innovation.

These findings provide not only new insights into social media and cross-border innovation but also theoretical guidance on how companies can effectively use social media in practice.

This research aims to investigate the relationship between knowledge capabilities, engagement capabilities, operational capabilities and sustainable supply chain flexibility in the steel production industry. In addition, it seeks to understand how these elements contribute toward achieving a net-zero supply chain, under the moderation of industry dynamism.

In total, 371 people have responded to the self-administered survey that the authors developed. The nonresponse bias analysis was carried out before diving into fundamental assumptions, such as homoscedasticity and normality. The data's reliability and construct validity were assessed by using confirmatory factor analysis. The hypothesized conclusions were supported by subsequent regression outputs, strengthening the body of existing academic research.

The research's empirical results highlight the positive relationship among knowledge capabilities, operational capabilities, sustainable supply chain flexibility and net-zero supply chain, particularly under the influence of industry dynamism. Information obtained from the steel production industry corroborates these findings. Moderation role of industry dynamism in the relationship between operational capabilities, engagement capability and sustainable supply chain flexibility was found significant.

This conceptual framework clarifies how knowledge capability, dynamic capabilities and the flexibility of a sustainable supply chain interact. It highlights how these factors collectively work together to attain a sustainable supply chain with net-zero environmental impact.

Previous studies considered effectuation and causation as alternative decision-making strategies used by entrepreneurs to navigate uncertainty, having various individual- and firm-level antecedents. This study aims to broaden our understanding of individual-level antecedents by examining the role of Chief Executive Officer (CEO) temporal focus in decision-making processes in small and medium-sized enterprises (SMEs).

Based on a multiple case study research design, the authors empirically analyse 16 Russian SMEs to uncover how the CEO temporal focus relates to the choice of effectuation/causation strategies under uncertainty.

CEOs with past orientation tend to adopt causation, future-oriented CEOs adhere to effectuation, while present-focused CEOs rely on both decision-making strategies (i.e. ambidexterity). Prior crisis-related experience is the underlying mechanism behind the relationship between CEO temporal orientation and effectuation/causation strategies. The authors formulate several propositions that may be tested in future studies in the field.

The contribution of this study consists in uncovering a new individual-level antecedent of effectuation/causation under uncertainty (i.e. CEO temporal focus) and suggesting that prior crisis experience acts as a mechanism underlying this relationship. The authors advance the strategic leadership theory by underscoring the CEO’s role in decision-making processes in SMEs.

Gillette’s historically successful “razor and blade” business model (RBM) has been a promising benchmark for multiple businesses across diverse industries worldwide in the past several decades. The extant literature deals with very few nuances of this business model notwithstanding the fact that there are several variants of this business model being put to practical use by firms in diverse industries in grossly metaphorically equivalent situations.

This study adopts the 2 × 2 truth table framework from the domains of mathematical logic and combinatorics in fleshing out all possible (four logical possibilities) variants of the razor and blade business model for further analysis. This application presents four mutually exclusive yet collectively exhaustive possibilities on any chosen dimension. Two major dimensions (viz., provision of subsidy and intra- or extra-firm involvement in the making of razors or blades or both) form part of the discussion in this paper. In addition, this study synthesizes and streamlines entrepreneurial wisdom from multiple intra-industry and inter-industry benchmarks in terms of real-time firms explicitly or implicitly adopting several variants of the RBM that suit their unique context and idiosyncratic trajectory of evolution in situations that are grossly reflective of the metaphorically equivalent scenario of razor and recurrent blades. Inductive method of research is carried out with real-time cases from diverse industries with a pivotally common pattern of razor and blade model in some form or the other.

Several new variants of the razor and blade model (much beyond what the extant literature explicitly projects) have been discovered from the multiple metaphorically equivalent cases of RBM across industries. All of these expand the portfolio of options that relevant entrepreneurial firms can explore and exploit the best possible option chosen from them, given their unique context and idiosyncratic trajectory of growth.

This study has enriched the literature by presenting and analyzing a more inclusive or perhaps comprehensive palette of explicit choices in the form of several variants of the RBM for the relevant entrepreneurial firms to choose from. Future research can undertake the task of comparing these variants of RBM with those of upcoming servitization business models such as guaranteed availability, subscription and performance-based contracting and exploring the prospects of diverse combinations.

Smart entrepreneurial firms identify and adopt inspiring benchmarks (like razor and blade model whenever appropriate) duly tweaked and blended into a gestalt benchmark for optimal profits and attractive market shares. They target diverse market segments for tied-goods with different variants or combinations of the relevant benchmarks in the form of variegated customer value propositions (CVPs) that have unique and enticing appeal to the respective market segments.

Value-sensitive customers on the rise globally choose the option that best suits them from among multiple alternatives offered by competing firms in the market. As long as the ratio of utility to price of such an offer is among the highest, even a no-frills CVP may be most appealing to one market segment while a plush CVP may be tempting to yet another market segment simultaneously. While professional business firms embrace resource leverage practices consciously, amateur customers do so subconsciously. Each party subliminally desires to have the maximum bang-to-buck ratio as the optimal return on investment, given their priorities ceteris paribus.

Prior studies on the RBM have explicitly captured only a few variants of the razor and blade model. This study is perhaps the first of its kind that ferrets out many other variants (more than ten) of the razor and blade model with due simplification and exemplification, justification and demystification.