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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.

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.

Starting in 2007 financial markets experienced a time of serious crisis that spread from the United States housing market and affected banks worldwide. In this article, we analyze the spreading of the crisis from Wall Street to Main Street in the specific context of the different European Markets and based on reactions of deposit holders. We show how elements of crisis affect Main Street and discuss the policy moderation of that transmission. This allows to collect evidence for the implication of the described moderation in an integrated financial market and the role of deposit insurances in financial turmoil.

There is a rising interest in ethical, moral, and spiritual challenges and imperatives, accountabilities, and responsibilities in the corporation. Governance issues arise whenever a corporate entity assumes a life of its own, and the ownership of an enterprise is separated from its management. How could owners ensure that “professional managers” hired and delegated to run their companies would run the venture to protect owners’ interests? What is and should be the moral quality of the corporation that CEOs govern? What types of corporate governance, ownership, and control modes and models should CEOs adopt such that they ensure long-term objectives of all stakeholders of the corporation? These ethical questions are central issues in the world of corporations today battled as they are with various pressures from governments, Wall Street analysts, credit ratings agencies, banks and promoters, private equity and hedge funds, and hostile takeovers. Such questions will always be crucial when fiduciary rights and duties attached to investment and ownership cannot be applied directly. This is the context of today’s corporate governance that this Epilogue to Volume I explores.

Superintendents’ agency in the US is shaped by governance systems within education systems. These Education Governance Systems have been in a state of flux and experienced turbulence for twenty years. The professional challenge this research addresses is how do 14 credentialed educational professional African American women superintendents with doctorates and track records of school improvement, navigate the turbulence to empower families, and Empower Young Societal Innovators for Equity, Renewal (EYSIER), Social Mobility, and Peace.

This chapter identifies three aspects of a theory of knowledge to action to emerge from the empirical evidence presented. First, African American women superintendents need to know how to access policy and legislation, how to stay up to date with policy and need to be empowered to challenge policy. Policy has the back of African American women fighting institutionalised racism. Second, African American women superintendents need role models, and mentors with wisdom who can create proactive and mobilising networks across the state and the nation to advocate for and to support the teachers’ and leaders’ professional learning to be the best teachers, leaders and superintendents they can be. Finally, the African American women superintendents who have been self-selecting, or identified as potential future superintendents by current superintendents and schoolboards, need to be part of succession planning that transcends the short elected lives of district school boards. Newly incumbent African American women superintendents need to be empowered by Education Governance Systems to enable them to deliver on their manifestos and track records of outstanding school improvement with the impact strategies they were employed to implement. The impact strategies include promoting high-quality home–school engagement and ensuring all students learn how to learn, are culturally sensitive, ask good questions and solve problems as Young Societal Innovators for Equity and Renewal. The chapter recommends a network of African American women superintendents implements this theory of knowledge to action and that their work is documented, and if successful in optimising students’ learning, and outcomes, disseminated to build capacity for EYSIER.

Certain elements of Hayek’s work are prominent precursors to the modern field of complex adaptive systems, including his ideas on spontaneous order, his focus on market processes, his contrast between designing and gardening, and his own framing of complex systems. Conceptually, he was well ahead of his time, prescient in his formulation of novel ways to think about economies and societies. Technically, the fact that he did not mathematically formalize most of the notions he developed makes his insights hard to incorporate unambiguously into models. However, because so much of his work is divorced from the simplistic models proffered by early mathematical economics, it stands as fertile ground for complex systems researchers today. I suggest that Austrian economists can create a progressive research program by building models of these Hayekian ideas, and thereby gain traction within the economics profession. Instead of mathematical models the suite of techniques and tools known as agent-based computing seems particularly well-suited to addressing traditional Austrian topics like money, business cycles, coordination, market processes, and so on, while staying faithful to the methodological individualism and bottom-up perspective that underpin the entire school of thought.

The purpose of this case study was to increase the knowledge base of how research librarians experience and cope with the turbulence of change within their library system. A library belonging to the Association of Research Libraries was selected for case study investigation. Seventeen librarians participated in on-site interviews, utilizing a protocol composed of a clustering technique and semi-structured interviewing. Instrumental case studies of each individual were then developed through a collective case method. The findings presented in this chapter include: the competing tensions between the physical and virtual environments, the speed of change, the search for professional meaning, and coping with the experiences of professional change. Analysis of the findings suggest: the emergence of a hypercritical state, the limiting nature of negative feedback, a complex systems framework for professional thinking, and coping in the hypercritical organization.

A comment by an analyst-cum-investor reads, “A year ago, I didn't expect the U.S. economy to fall into recession in 2008 because I was confident consumers would continue to do what they do so well: spend money. I had plenty of company, and ultimately we were all wrong.” During the Fall of 2007, while working in Tokyo to prepare a manuscript for publication, I wrote, “I come to a rather disturbing prognosis about the U.S economy: high likelihood of a recession” (Azis, 2008). Indeed, it is always tricky to predict crisis and recession, let alone to comprehend how a small segment of a financial market, that is, subprime credit, could bring down the world's largest economy into the worst recession since World War II. Every Spring semester on the first day of my class on “Economics of Financial Crisis,” I always cautioned students that financial crisis is explainable but not predictable.