Behavioral Strategy and the COVID-19 Disruption

Journal of Management, Forthcoming

14 Pages Posted: 30 Jun 2020

See all articles by Nicolai J. Foss

Nicolai J. Foss

Copenhagen Business School - Department of Strategy and Innovation

Date Written: June 26, 2020

Abstract

What can strategic management research do to help to make sense of the COVID-19 disruption, and what are the implications of the disruption for the strategy field? I argue that among the streams in strategy research, behavioral strategy is uniquely situated in terms of providing a psychologically-based interpretive lens that could lend great insight into decision-making in extreme conditions. However, the disruption also points to weakness in current behavioral strategy thinking, notably with respect to the role of models vis-รก-vis judgment in strategic decision-making, the deeply social (political, institutional) nature of strategy making, and the treatment of fundamental uncertainty.

Keywords: Behavioral strategy, COVID-19, disruptions, sensemaking, uncertainty, bias

JEL Classification: M10, D2, D72, D8

Suggested Citation

Foss, Nicolai J., Behavioral Strategy and the COVID-19 Disruption (June 26, 2020). Journal of Management, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3635998 or http://dx.doi.org/10.2139/ssrn.3635998

Nicolai J. Foss (Contact Author)

Copenhagen Business School - Department of Strategy and Innovation ( email )

Kilen
Frederiksberg, 2000
Denmark

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