Strategically rethinking sustainability in times of crisis

Abstract

The pandemic spread of the coronavirus is an exogeneous shock to the global economic system.Managers and decision-makers are forced to adapt their strategies to fast-changingenvironments. Despite the omnipresence of changes and the existence of various strategicframeworks, this crisis may call former research findings on strategic adaptation into questionas it looks different from any former ones. At the same time, past crises have shown the benefitsof strategic sustainability efforts. Based on evidence from former crises and up-to-date firsthandinformation from corporate strategists, the thesis aims to analyze the strategic relevanceof sustainability in the current context. Applying the format of a qualitative industry research,the emerging trend of strategically rethinking sustainability is analyzed. The findings frominterviews with high-level strategy experts provide valuable insights at this early point ofstrategic adaptation. Given the experienced resilience and the recent focus on social topics, thevast majority of interviewed companies confirms a gain in strategic relevance of sustainability.Despite the fear that the topic may take a backseat, positive effects accelerating an alreadyexisting trend are shown. However, this shift of strategic priorities has not yet translated intothe formulation of strategies. Overall, the experienced crisis effects seem to leave a lastingimpression on many strategy makers - opening up an opportunity to question business as usualand revise strategic orientations. The results highlight the importance of integratingsustainability within core business strategies to ensure not only a sustainable recovery, but alsoa long-term competitive advantage.

Date of Award	2 Feb 2021
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Ricardo Reis (Supervisor)