Journal of Business Strategy

This paper argues that when incumbent firms counter disruptive threats head-on, they may fail to develop the required new skills. This paper aims to propose an adjacent strategy which proved useful to Fujifilm to counter disruption of its core business of manufacturing photographic film. The study uses an inductive methodology. Based on a detailed case study of Fujifilm, the study proposes two frameworks: for the conditions under which an adjacent strategy is likely to be fruitful and how firms can make the strategy work in their organizations. The study finds that an adjacent strategy can be useful to firms under specific circumstances. Not only will the strategy help to counter decline in the core business, but it will also open up new avenues of growth. The success of the strategy requires significant efforts in aligning the leadership and the organization, however. The frameworks proposed in the study can be useful to incumbent firms in many industries as they battle new disruptive business models and players. The study’s key argument that incumbent firms can leverage skills from their core business is novel. The study also proposes frameworks that can help firms decide whether an adjacent strategy is appropriate for them and how they can implement it.

This paper aims to explore ChatGPT’s (generative pre-trained transformers) potential as a tool for retailers to improve customer experience and boost sales. While it provides benefits like personalized recommendations and 24/7 assistance, there are limitations, like difficulty in understanding unconventional language. The paper stresses careful integration to overcome these limitations and create a better customer experience. Additionally, it discusses the potential for further development and integration of ChatGPT in retail, such as generating product descriptions and virtual try-on experiences. Finally, the paper encourages retailers to embrace ChatGPT to meet their customer needs. Case-based methodology involves using specific cases or examples to explore a broader issue or phenomenon. Researchers have analysed real-world cases to identify patterns, themes and insights that can be applied to other contexts or situations. This was useful for understanding complex and multifaceted issues as it allowed us to delve deeper into specific examples and explore the nuances of the situation. While ChatGPT is a powerful tool for retailers, limitations such as difficulty in understanding non-standard accents and unconventional language can arise, causing customer frustration. Retail managers must integrate ChatGPT in a way that enhances customer experience. In the future, ChatGPT has the potential to generate product descriptions, provide virtual try-on experiences and integrate with augmented or virtual reality technology to offer more immersive experiences. Careful consideration and integration can help retailers overcome these limitations and offer personalized recommendations, round-the-clock assistance and an engaging customer experience that improves sales. The case topic is very much in a novel stage of research and writing.

To assess the ability of generative AI to assist in crisis management planning and response. The viewpoint is built on a “conversation” with ChatGPT (CGPT) on the subject of crisis management. As such, portions of the text were generated by CGPT, a Large Language Model (LLM) and not by the author. While CGPT has mastered the language of crisis management, its ability to assist in real-life situations is probably limited. Paradoxically, it believes it can help provide predictive analytics even though it claims not to be able to assess future events. The author believes that the paradoxes inherent in CGPT’s claims to be able to assist in crisis management have not previously been examined.

This paper aims to provide a comprehensive overview of the challenges and employee development strategies for executives and managers when managing flexible work systems. The paper takes an employee development perspective to discuss management strategies of flexible work systems. Research findings on the effects of work flexibility through flexible work systems, the challenges and the development strategies that executives and managers can use were reviewed from multi-level perspectives. The flexible work system is the new normal in the workplace. Lack of social and face-to-face interactions reduces employees’ social learning, jeopardizing managerial justice and weakening the culture. To remain competitive and retain talented employees, executives should reexamine their current employee development strategies and implement new strategies that fit the characteristics of flexible work systems. To the best of the authors’ knowledge, this is the first comprehensive review of employee development strategies for flexible working arrangements. The paper provides practical guidelines and insights for executives and leaders managing employees under various flexible work systems.

This study aims to explain the cognitive bias of overconfidence and portray the different ways in which overconfident top managers may affect firm outcomes. This paper outlines their opportunities and risks and how these managers are surrounded by contextual factors. This study draws on a systematic overview of the current literature on senior executives' overconfidence and empirical studies investigating its impact on strategic outcomes. This study identifies the opportunities and risks of overconfident top managers in firms and considers the contextual factors that influence firm outcomes. The results provide three important managerial implications for interactions with overly confident top managers. These findings help us understand top managers' overconfidence. Organizations receive guidance on how to constrain inappropriately confident top managers who are detrimental to their businesses. This study contributes to a better understanding of overconfidence among top managers, illustrates associated opportunities and risks and provides recommendations for controlling and dealing with top managers characterized by this cognitive bias.