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International business policymaking for a “wicked” world

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  • Matevž Rašković

    (Victoria University of Wellington)

Abstract

Many international business (IB) issues are “wicked”, requiring specific policymaking approaches and capabilities. COVID-19 has accentuated their wickedness, contributing also to global structural shifts, which pose significant challenges and opportunities for transformation policymaking. This commentary extends the second-generation wicked problem (WP) literature and proposes a third-generation WP approach focusing on morality and time, which have been often overlooked. Drawing on the WP literature, I propose three policymaking principles (i.e., time-sensitive logics, actioning a moral imperative, empathy, and reflexivity) and two types of meta-capabilities (i.e., resilience and entrepreneurial meta-capabilities). Time-sensitive logics sensitize decision-makers to cause-effect lags and help synch their approaches with governance, system and strategic policymaking logics. Actioning a moral imperative helps curb perverse managerial incentives to address only feasible WP parts. Empathy and reflexivity outline the importance of humanizing WPs and prompt decision-makers to reflect on their own mental models and biases when addressing WPs. Resilience meta-capabilities underscore anticipatory, coping, adaptive and transformative capabilities needed to address WPs in order to “bounce beyond adversity”. Entrepreneurial meta-capabilities outline five entrepreneurial policymaking elements suited for addressing WPs. These principles and meta-capabilities can guide policymakers and managers to better navigate the wickedness of COVID-19 and address WPs beyond it.

Suggested Citation

  • Matevž Rašković, 2022. "International business policymaking for a “wicked” world," Journal of International Business Policy, Palgrave Macmillan, vol. 5(3), pages 353-362, September.
    • Handle: RePEc:pal:joibpo:v:5:y:2022:i:3:d:10.1057_s42214-021-00113-w
    DOI: 10.1057/s42214-021-00113-w
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