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| Author: | Engau, C. Hoffman, V.H. |
| Title: | Strategizing in an unpredictable climate: Exploring corporate strategies to cope with regulatory uncertainty |
| Journal: | Long Range Planning
2011 : FEB, VOL. 44:1, p. 42-63 |
| Index terms: | corporate strategy government regulations uncertainty international industries Europe case studies airlines surveys |
| Language: | eng |
| Abstract: | In order to help managers make informed decisions, this study compiles a comprehensive overview of strategies to cope with regulatory uncertainty, illustrating their interdependencies and way of combining them into overall coping postures, and offering management guidelines on deciding which to adopt. A literature review identifies a notable variety of coping strategies. Herein, applied are unique data from a worldwide cross-industry survey in order to categorize each into one of three types, that is, offensive, defensive or passive. It is found that firms aiming to cope with the uncertainty associated with post-Kyoto regulation typically adopt one of four strategic postures, each characterized by a specific combination of the following types: 'daredevils' relying only on offensive strategies, 'coordinators' combining them with defensive ones, 'hedgers' pursuing strategies from all three categories, and 'gamblers' choosing not to specifically cope with uncertainty at all. The strategies characteristic of each one are exemplified, illustrating their interdependencies through case studies in the European airline industry. |
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