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The stable and predictable agricultural, infrastructure, manufacturing, and energy economies of hard products have been followed by economies that offer softer products such as services, information, knowledge, health care, digitization, networking, globalization, entertainment, sustainability, and currently, well-being and happiness. Such soft market products are loaded with buyer–seller information asymmetries (BSIA) that create market risk, market uncertainty, market chaos, and ambiguity – all of which are specific types of market turbulence. In this context, this chapter investigates the phenomena of turbulence, specifically environmental turbulence whose major subsets are technological turbulence and market turbulence. We cite several recent geopolitical variables and events that have aggravated market turbulence such as Chinese economic invasion of global markets, global climate change, Brexit, international asylum-seeking migrations, artificial intelligence, and demonetization. We also define market turbulence as varied forms of BSIA for which both marketers and consumers must have appropriate joint responsibility. In addition, we focus on ethical and moral marketing responsibilities for reducing BSIA under each type of turbulence.

Swimming is a popular holiday activity in tropical tourism destinations but is not risk free. Aside from the obvious risks of drowning, tropical waters harbour a number of marine animals that have the potential to injure or even kill unwary swimmers. Sharks, marine jellyfish and crocodiles may pose threats. From a destination perspective, strategies need to be implemented that firstly reduce the risk of injury and secondly care for swimmers who are injured. This paper first reports on the results of a survey of swimmers that examines a range of swimming-related behaviours then proposes an action pathway model that may be implemented by destinations to reduce risk for swimmers.

I got a phone call. A call on a Sunday morning! It was just like any other Sunday when my family and I had gotten ready for Sunday church service until I received this phone call from Dr. Cavusgil two days after my brief visit to the Michigan State University (MSU) campus, meeting a few faculty members. The phone call was to offer an admission to the doctoral program. It was the pivotal moment that turned my career route from a salary man to a scholar that I never thought would be what it turned out to be later.

Human beings spend their daily lives within the range of the atmospheric boundary layer, where airflow is affected by friction from Earth's surface. The airflow in this area is generally called wind. Strong wind occasionally causes severe damage to infrastructures and people because of its aerodynamic effects, but even weak and moderate winds can have serious environmental impacts on human society such as those seen with air-pollution problems and thermal effects.

Decision-making has long been recognized as being at the core of organizational life. Yet, the cognitive mechanisms by which managers make decisions represent a critical field of exploration. In this context, business models (BMs) are cognitive representations of organizational architectures that managers use to orient their firms in the business environment. While BMs – as managerial schemas – have been extensively studied for their beneficial applications at the strategic level, scholarly attention has rarely focused on their dark side. In this chapter, we point out that BM thinking – that focuses excessively on established schemas – might narrow managerial cognition in the process of fine-tuning the current BM; in the process, opportunities for more radical BM innovation can be overlooked. We systematize March and Simon’s contribution on managerial cognition into a more comprehensive conceptual framework by integrating the perspectives of Kahneman, Baron, and Gollwitzer. The result is an epistemologically coherent framework for managerial cognition and decision-making that focuses on how managers can overcome cognitive biases that derive from a reliance on established BMs as schemas. We close this chapter with directions for further research.

Anthony ‘Skip’ Basiel has been involved in e-learning in the United Kingdom for almost two decades. His work with the British Council in 2004 won him eTutor of the Year Award with the Higher Education Academy. As an Adobe International Education Leader he has expertise in new media and web video conferencing consulting organizations such as Oxford University. He is an Adobe Certified Associate in Web Communication (2010).

The rising opportunities in emerging countries have attracted numerous multinational corporations to invest in the new regimes. Knowledge management between headquarters and their foreign subsidiaries, thus, becomes particularly crucial in navigating host country environmental uncertainties. Despite its criticality, how foreign subsidiaries can benefit from effectively managing knowledge remains unclear. This study examines the extent to which market and technological turbulences influence two specific knowledge management platforms, knowledge transfer and knowledge codification, and subsequently, market responsiveness of foreign subsidiaries. Results from a survey of 140 foreign subsidiaries in China show that knowledge transfer and knowledge codification serve as two important platforms to mitigate the effects of environmental turbulence on local market responsiveness.

The flexibility of corporations to adapt their strategy to a fast-changing environment can be a major source for competitive advantage and survival. While research mainly focuses on outcomes of this ability, little is known of how to foster it in organizations. Thus, by building on the upper echelons theory, the authors assume that the strategic flexibility of the company depends on the willingness and permission to change of the chief executive officer (CEO). To support the hypotheses, the authors apply the dimensions of commitment to change and work autonomy to the CEO and test for moderation under conditions of technological turbulence. The authors’ results based on medium-sized organizations in Germany show significant effects of both dimensions on strategic flexibility. In particular, under conditions of high technological turbulence, commitment based on loyalty and not on pressure together with autonomy on control and evaluation criteria is best suited to increase strategic flexibility. These insights extend the research literature and provide guidelines for CEOs and their supervisors alike.

This paper examines the predictive content of financial variables above and beyond past GDP growth in a small open economy in the Eurozone. We aim to clarify potential differences in forecasting economic activity during periods of steady growth and economic turbulence.

The out-of-sample forecasting analysis is conducted recursively for two different time periods: the steady growth period from 2004:1 to 2007:4 and the financial crisis period from 2008:1 to 2011:2.

Our results from Finland suggest that the proper choice of forecasting variables relates to general economic conditions. During steady economic growth, the preferable financial indicator is the short-term interest rate combined with past growth. However, during economic turbulence, the traditional term spread and stock returns are more important in forecasting GDP growth.

The results highlight the importance of long-term interest rates in determining the level of the term spread when the central bank implements a zero interest rate policy. Moreover, during economic turbulence, stock markets are able to signal the expected effects of unconventional monetary policy on GDP growth.

This introduction sets the scene for the study by explaining the rationale for presenting a comparative analysis of five nation states’ governance systems; England, Northern Ireland, Arabs in Israel, Trinidad and Tobago and the United States, with Nigerian interests represented in the research design. The context is that of a global phenomenon of a Black–White achievement gap (Wagner, 2010). The quality is world leading in terms of originality, significance and rigour. We present a theory of colonisation between groups with different interests, which includes nation states colonising other nation states, and dominant groups within nation states colonising marginalised groups. We also explored how dominant groups within educational governance systems may colonise marginalised groups within education governance systems. We theorised colonisation using Karpman’s Triangle (1968) identifying that different groups can be oppressor, and/or victim, and/or rescuer, and these roles may shift as changes occur in power and economic influence. We present the Empowering Young Societal Innovators for Equity and Renewal Model (Taysum et al., 2012, 2013, 2014, 2015, 2016, 2017) with five principals for equity and renewal. We explain the turbulence that senior-level leaders experience and how education governance systems need to empower their autonomy as credentialed educational professionals’ with track records of school improvement. Impact strategies to optimise students’ learning and students’ outcomes, and build the community’s values of social justice, courage and prudence need to underpin social mobility. These innovations are only possible if they are informed by grass roots participatory philosophical inquiry, that is informed by and informs policy, and is carefully monitored for quality assurance against the highest of educational professional standards.