PurposeIn a work environment marked by unprecedented complexity, volatility and ambiguity, managers must accomplish their objectives while navigating many challenges. This paper aims to investigate potential interrelations among environmental transformations, cognitive biases and strategic decisions. In particular, the purpose of the study is to crystallize the state of art on the impact of cognitive biases on strategic decisions, in the context of environmental transformations.Design/methodology/approachThe authors have conducted a systematic literature review to identify existing relevant work on this topic and to detect potential avenues for future research.FindingsThe findings highlight how decision-making is influenced and enabled by internal (e.g. perception) and external factors (e.g. digitalization). Specifically, the strategic role of cognitive biases appears to be crucial when investigating the related impact on strategic decisions in times of environmental transformation.Practical implicationsImplications are drawn for scholars and practitioners interested in evaluating the role of specific decision-making determinants for the formation and implementation of strategic decisions. In this sense, we stress that decision-makers need to manage their cognitive biases and select the right information out of a wide data set in order to adapt to environmental transformations.Originality/valueBy systematizing the literature review, potential interrelations among environmental transformations, cognitive biases and strategic decisions are identified. Furthermore, the primary phases that drive the decision-making process are proposed (analysis, decision, onboarding and control).

PurposeThe purpose of this paper is to explore the role of the digitalization phenomenon in the development of innovative business models that are sustainability oriented. Thus, the authors aim to understand whether the presence of digitalization forces companies to create, capture and deliver value in new ways, focusing on their social impact.Design/methodology/approachThrough the analysis of a case study in the automotive sector, the authors provide evidence that both digitalization and sustainability need to be considered to adequately innovate business models. Moreover, these two dimensions are interrelated, and therefore digitalization sustains sustainability and vice versa.FindingsBy inductively investigating the evolutionary path along which companies tend to adapt their business models to digitalization and sustainability trends, the authors found that this innovative transformation needs to be as sustainable as possible in order to offer benefits to organizations, customers and society at large. Furthermore, the authors revealed that, at least in the automotive sector, companies and customers are aware of the remarkable consequences of digitalization; however, they are still uncertain regarding the actual adoption of new technologies.Originality/valueThe literature on business model innovation is quite extensive. However, the role of digitalization in developing sustainable business models to achieve a competitive advantage has been overlooked. This study suggests that, within a specific context, forging a value network of stakeholders is helpful when innovating a business model with a sustainability orientation.

PurposeThe Covid-19 pandemic represents an extraordinary and unpredictable event influencing the whole economy and society. Using a case study approach, the authors explored how big companies operating in Italy were able to respond to the crisis to ensure business continuity. Therefore, the authors discussed different business disruptions caused by Covid-19; in addition, they developed an integrated policy framework in which they proposed specific strategic responses for increasing the level of organizational resilience. The aim of the paper is to discuss and reflect on the ability of specific companies to increase their level of organizational resilience when unexpected events happen.Design/methodology/approachThe authors conducted semi-structured interviews with target CEOs of four major companies operating in Italy in different industries. Especially, the authors focused on multiutilities, media and communications, investment banking and mobile telecommunications. The interviews were based on questions dealing with Covid-19 implications and strategic responses to navigate this complex scenario.FindingsBased on the CEOs' contributions, the authors presented short-term actions and long-term strategies planned and implemented by each Italian company. In particular, the authors emphasized similarities and dissimilarities in terms of strategic responses and future business development.Originality/valueThe analysis of practical cases was helpful for increasing their knowledge on organizational resilience and for providing the managerial community with a policy framework to navigate unexpected events like the Covid-19 pandemic.

PurposeTechnological innovations provide huge opportunities to expand and revolutionize the scope of products and services offered. This is particularly true for tourism, which is undergoing significant changes due to the development of new technologies. The level of technology diffusion depends on several factors like the exchange of information among peers, and the attitude and shared perception among the contributors. The aim of the study is to explore the diffusion of technology in tourism with a specific focus on the social media discourse around new technologies. Thus, the paper investigates the level of interest in these new technologies analysing the information exchange occurring between individuals on Twitter in order to explore the influence of reciprocal networking.Design/methodology/approachTo capture the attitudes expressed in the industry, the study analyses the ongoing discourse on Twitter as a proxy for the participants “interest in new technologies. Through a social network analysis of the tweets and retweets conducted over a period of nine months, the research maps the level of information exchange about the diffusion of new technologies. Moreover, the sentiment analysis provides an interesting overview of the individuals” attitudes towards the awareness or the adoption of new technologies.FindingsOur analysis has provided several insights: (1) the information network on blockchain in tourism consists of participants who change very quickly over time (high turnover of accounts); (2) some contributors have an extremely important role in influencing the flow of information in the system (information centralization), they can have a generalist (discussing several topics) or a specialist (focusing on a specific topic) behaviour and this strategic choice influences their network's structure; (3) these central nodes also have an impact on the definition of positive and negative sentiment towards a topic (sentiment influencer).Research limitations/implicationsThe paper contributes to the literature on technology diffusion, by focusing on one of the preconditions of diffusion that is the shared positive attitude towards technological innovation. More specifically, we adopt a network-based approach, which is useful to explain the level of information exchange and the public discourse that can impact the shared perception and attitude towards technological innovation. The study also highlights the role of knowledge brokers in influencing this public discourse. Future studies can deepen the association between positive perception, higher levels of information exchange and increasing usage of specific technologies. Our results also suggest further exploring the opportunity to combine social media data and other sources of information to shed more light on the technological innovation diffusion processes.Practical implicationsThis paper shows how practitioners can benefit from the analysis of information exchange about new technologies in tourism adopting a network perspective with the aim of understanding the level of influence among contributors. Moreover, the increasing interest in blockchain technology and the potential combination between social media data and other sources of information can offer promising insights.Social implicationsThe present study explores the level of technology diffusion through the analysis of information exchange on social media (Twitter). Furthermore, the dynamics of individual user behaviour offers a better understanding about media effects.Originality/valueWhile previous research is focused on the users' perception towards the development of new technologies in tourism, the aim of this study is to investigate the dynamics behind the level of diffusion of information and awareness about these new technologies, which still represents an unexplored area of research.

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