In this paper we propose an approach to help businesses discover a successful, new strategy in response to a shock … business model. Specifically, we develop a conceptual framework for the discovery process and propose a set of practical tools … that managers can use to help their companies begin to deal with the unknown-unknowns that result from a significant shock …

: The Conventional Wisdom in Strategy -- Chapter 4: Strategic Optionality: Introducing the Idea -- Chapter 5: Optionality …This book offers a fresh approach to strategy by examining the idea of Optionality. Optionality is the right, but not … of high uncertainty. This book begins by dividing the business landscape into three distinct domains; (1) Fragile, (2 …

. The authors also present an emergent theoretical process model of small business adaptive responses to uncertainty that … highlighted creativity and flexibility in coping with uncertainty. Business owners adapted their strategies regarding processes … cities and communities regarding some effective small business and community response to uncertainty and change. Originality …

historical periods in which uncertainty and risk premia were elevated because of news shocks. …We embed a news shock, a noisy indicator of the future state, in a two-state Markovswitching growth model. Our … framework, combined with parameter learning, features rich history-dependent uncertainty dynamics. We show that bad news that …

-specific) uncertainty and offers ten main takeaways. The second part reviews contributions on the fast-growing strand of the literature … focusing on the macroeconomic effects of uncertainty spillovers and global uncertainty. The last part proposes a novel measure … of global financial uncertainty and shows that its unexpected variations are associated to statistically and economically …