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Crisis Management And Competitive Adaptation In Renewable Energy And Clean Technology Investments

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Is Tcfd A Catalyst For Transformational Climate Adaptation?

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Chapter 4: Water

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Received: 27 January 2021 / Modified: 7 February 2021 / Received: 9 February 2021 / Published: 14 February 2021

Today, the watchdog for organizations to prepare for the challenges of a competitive environment is digital sustainability, resilience and agility. However, although these concepts are commonly used by scholars and practitioners, the nature of the relationship between sustainability and resilience has not been sufficiently clarified. More importantly, there is still no evidence of what factors determine the greater resilience to change in an organization that wants to be more sustainable, especially in times of crisis and dysfunction. The purpose of this research is to explore theoretical perspectives by constructing conceptual models of how these dimensions interact with each other to help companies with strategic resilience by taking advantage of digital and agile drivers. A new vision of resilience will emerge from studies that go beyond the known ability to absorb or adapt to adversity to incorporate strategic attributes that can help companies seize the opportunities associated with change to Design new ways of doing business in difficulty. Conditions of stress. The key set of agile processes is a digital-enabled strategy that builds strategic resilience that incorporates proactive and opportunity-oriented attitudes in the face of change. Strategic resilience To achieve organizational sustainability, it must be understood as a multi-domain concept similar to the overall aspects of sustainability: environmental, economic and social. Finally, the research provides a set of propositions and theoretical frameworks that can be substantiated.

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To best adapt to change, organizations must have a number of key attributes, and the watchword has now become: sustainability, digital creation, resilience and agility. In today’s dynamic and interconnected world, organizations must be able to withstand and thrive under conditions of crisis and change. Changes can be permanent or non-continuous, or radical, expected or unexpected, reversible or irreversible, and can occur with varying intensities and at many different levels. This reflects the level of complexity and multidimensional nature of change [1] that influences the development and implementation of effective business strategies and solutions. In addition to the occasional disruption and subsequent changes, radical change, non-continuation of crises, or “crashes” are becoming more and more important and frequent, all of which greatly affect the operation of the organization [2]. The COVID-19 pandemic is just the latest and most striking example of the global crisis highlighted in the short term, the impact and challenges of change, as well as the urgency of effective and efficient response [3].

The global crisis following the epidemic of COVID-19 underscores the importance of sustainability not only in the health aspect of its social dimension, but also from an economic and environmental perspective. ]. In fact, health emergencies have created immediate crises, both in terms of supply (supply chain congestion, factory closures, job losses) and demand, with the collapse of household consumption and business investment. [5]. Thus, economic growth was immediately disrupted by epidemics as well, with aspects of sustainable development set by the 2030 Agenda, ending years of efforts by countries and the international community to achieve Progress on the level of well-being. As their population [6]. Therefore, it is clear that future growth and development policies cannot ignore the ability of society, organizations and individuals to face the complex and unpredictable risks and phenomena that continue to plague them. This capability is commonly known as resilience, and the COVID-19 health crisis demonstrates how it relates to environmental and socio-economic sustainability. The nature and methods of correlation between resilience and sustainability have not been adequately investigated [7, 8].

Companies and organizations have also indicated that they are not prepared for the global health emergency represented by the COVID-19 pandemic [9]. This criticism underscores the need for rapid development of the ability to adapt to changes, to take effective action quickly to respond to current situations [10]. In particular, companies must be prepared to deal with the potential long-term effects on supply chain operations and the wider economy, and, of course, on the well-being of employees caused by infectious diseases that are spreading around the world. Mr. Companies should take advantage of this critical time to review their strategies and plans in response to the crisis to be better prepared for the potential impact of an epidemic by increasing their productivity. Resistant [11].

Crises And Crisis Management: Integration, Interpretation, And Research Development

The term resilience is widely used with emergencies of infectious diseases. Among the most recurring statements is whether a resilient economy is the best way out of a crisis, or whether resilience is needed to restart. Although governments and institutions speak of resilience with the aim of building or maintaining it, it is not always clear what the true meaning of the word is [12]. The term itself indicates the ability of the system to withstand any interruptions, set up a response, and return to normal operation. However, resilience should not be confused with change resilience, as partial changes are allowed. This capability arises from the internal characteristics of each system, allowing it to overcome critical situations [13] effectively. More specifically for an organization, elements such as knowledge, ability to react to change, openness, access to adequate resources, flexibility, and a wide range of communication networks allow the organization to be resilient [14].

Although resilience is a highly topical concept that has received increasing attention from scholars in the last two decades in various fields of research, [15] it has been theoretically defined differently from Each leading to the proliferation of different definitions, methods, theories and interpretations [16]. Researchers’ focus focuses on the conceptual definition of resilience as the ability to “absorb” or “adapt” to the definition of borrowing commonly used in systems theory and evolution [17]. What is missing from the research section is the theoretical discussion of factors that make organizations more resilient so that they can successfully deal with change [18]. Similarly, there is a lack of theoretical exploration of how resilient organizations can organize and respond to sustainable change [19].

Based on the above, this research aims to investigate elements that identify at least the organization’s resilience [20] as well, by relating it to unique or other capabilities, such as technological or digital innovation [21]. ]. Second, it aims to fill gaps in the concept by describing the relationship between resilience and sustainability by designing a framework that explores and maps how to build them within the organization.

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Exploring research concepts to fill in the theoretical gaps highlighted in the previous section is the approach applied in this study. This approach has already been widely applied in theoretical research in the field of organization [22, 23]. Through critical literature reviews, existing knowledge of the relationship between resilience and sustainability in management practices has been identified to develop conceptual models. Literary analysis was carried out by searching the bibliography of articles written in English and published in the Scopus repository and Google Scholar database. Keywords and keywords used for search are: “Sustainability”, “Sustainability”, “Digital”

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