Innovation Strategies in a VUCA World
(2024) MGTN59 20241Department of Business Administration
- Abstract
- Purpose: The purpose of this study is to provide an overview and understanding of what innovation strategies to thrive in a VUCA world are presented by research published from 2015-2024. As the characteristics and consequences of the VUCA world become increasingly evident and in today’s corporate environment, utilizing innovation strategies are one forwarded way in order for corporations to maintain prosperity in volatile, uncertain, complex and ambiguous environments. Thus, by reviewing, describing, analyzing and synthesizing what 54 published theoretical and empirical research articles suggest as suitable innovation strategies to thrive in a VUCA world, we aim to present main themes, commonalities, differences and inconsistencies in the... (More)
- Purpose: The purpose of this study is to provide an overview and understanding of what innovation strategies to thrive in a VUCA world are presented by research published from 2015-2024. As the characteristics and consequences of the VUCA world become increasingly evident and in today’s corporate environment, utilizing innovation strategies are one forwarded way in order for corporations to maintain prosperity in volatile, uncertain, complex and ambiguous environments. Thus, by reviewing, describing, analyzing and synthesizing what 54 published theoretical and empirical research articles suggest as suitable innovation strategies to thrive in a VUCA world, we aim to present main themes, commonalities, differences and inconsistencies in the selected research.
Methodology: A systematic literature review was conducted to produce an objective data collection and analysis process and thus provide objective findings.
Findings: The main finding of this systematic literature review consists of the distinguished representation of suggestions of innovation strategies to thrive in a VUCA world that focuses on agility, adaptability and flexibility of organizations, managers and leaders. Another finding revealed that innovation was an outcome of the implementation of strategies focusing on organizational, managerial and leadership agility and flexibility. A third finding is the minor contribution of technologically oriented innovation strategies that was found among the 54 research articles that were reviewed. Another finding suggests that technologically oriented research tended to design strategies where innovation was a component of the strategy instead of an outcome.
Contribution: This study is valuable for scholars in academic fields of strategic management and or technological innovation management for managerial positions and organizations and for individuals with an interest in the field of VUCA, strategic management and innovation. Due to the description, analysis and synthesizing of 54 research articles, an overview of a part of the academic field of innovation strategies and VUCA contributes to understandings of what academia perceives to be challenges related to VUCA and suggestions for strategies to solve these challenges. This provides suggestions for scholars on how to further this research and valuable insights for practitioners. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9156618
- author
- Eld, Hedda LU and Johansson, Eléonor LU
- supervisor
- organization
- course
- MGTN59 20241
- year
- 2024
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- VUCA, VUCA world, Volatility, Uncertainty, Complexity, Ambiguity, Innovation, Strategy, Innovation strategies, Agility, Organizational Development Leadership Agility, Organizational Ambidexterity
- language
- English
- id
- 9156618
- date added to LUP
- 2024-06-24 12:45:56
- date last changed
- 2024-06-24 12:45:56
@misc{9156618,
abstract = {{Purpose: The purpose of this study is to provide an overview and understanding of what innovation strategies to thrive in a VUCA world are presented by research published from 2015-2024. As the characteristics and consequences of the VUCA world become increasingly evident and in today’s corporate environment, utilizing innovation strategies are one forwarded way in order for corporations to maintain prosperity in volatile, uncertain, complex and ambiguous environments. Thus, by reviewing, describing, analyzing and synthesizing what 54 published theoretical and empirical research articles suggest as suitable innovation strategies to thrive in a VUCA world, we aim to present main themes, commonalities, differences and inconsistencies in the selected research.
Methodology: A systematic literature review was conducted to produce an objective data collection and analysis process and thus provide objective findings.
Findings: The main finding of this systematic literature review consists of the distinguished representation of suggestions of innovation strategies to thrive in a VUCA world that focuses on agility, adaptability and flexibility of organizations, managers and leaders. Another finding revealed that innovation was an outcome of the implementation of strategies focusing on organizational, managerial and leadership agility and flexibility. A third finding is the minor contribution of technologically oriented innovation strategies that was found among the 54 research articles that were reviewed. Another finding suggests that technologically oriented research tended to design strategies where innovation was a component of the strategy instead of an outcome.
Contribution: This study is valuable for scholars in academic fields of strategic management and or technological innovation management for managerial positions and organizations and for individuals with an interest in the field of VUCA, strategic management and innovation. Due to the description, analysis and synthesizing of 54 research articles, an overview of a part of the academic field of innovation strategies and VUCA contributes to understandings of what academia perceives to be challenges related to VUCA and suggestions for strategies to solve these challenges. This provides suggestions for scholars on how to further this research and valuable insights for practitioners.}},
author = {{Eld, Hedda and Johansson, Eléonor}},
language = {{eng}},
note = {{Student Paper}},
title = {{Innovation Strategies in a VUCA World}},
year = {{2024}},
}