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Change-Readiness as an Essential Meta-Dynamic Capability (MDC) Tested Under the Effect of the General Data Protection Regulation (GDPR)

In: Essentials on Dynamic Capabilities for a Contemporary World

Author

Listed:
  • Anuradha Venkataraman

    (Niels Brock, Copenhagen Business College)

  • Jesper Lind Madsen

    (Niels Brock, Copenhagen Business College)

  • Bruno F. Abrantes

    (Niels Brock, Copenhagen Business College
    ISCTE University Institute of Lisbon (ISCTE-IUL))

Abstract

The unprecedented changes observed in the last two decades within the sphere of socioeconomic policy, accompanied by technological disruptions, have largely increased managerial pressure over the organizations, constantly being scrutinized in their worth and performance. We argue that the strategic preparation-to-change is an essential organizational dynamic capability (DC) to accommodate external changes of various typologies, ensuring a far more robust redesign of business portfolios (and their underlying business architecture) and the reconfiguring of competitiveness factors. To test the effects of change and the prominence of readiness as a capability, a discrete event is instrumentalized here, that is, the General Data Protection Regulation (GDPR), which had “stirred the waters” of the European legal framework in 2018. This chapter makes an inventory of operational changes imposed by the GDPR on all European enterprises and reflects upon the strategic possibilities opened by change-readiness. Consequently, it immerses in the theoretical domain of the Dynamic Capabilities Theory (DCT) addressing the scope and virtues of change-readiness-related DCs as strategic flexibility and strategic adaptability. In addition, it analyzes the rationale of strategic flexibility/agility and the quest for strategic value adaptation and conformity within the scope of the GDPR and legal compliance perspective.

Suggested Citation

  • Anuradha Venkataraman & Jesper Lind Madsen & Bruno F. Abrantes, 2023. "Change-Readiness as an Essential Meta-Dynamic Capability (MDC) Tested Under the Effect of the General Data Protection Regulation (GDPR)," Studies on Entrepreneurship, Structural Change and Industrial Dynamics, in: Bruno F. Abrantes & Jesper Lind Madsen (ed.), Essentials on Dynamic Capabilities for a Contemporary World, pages 25-45, Springer.
    • Handle: RePEc:spr:seschp:978-3-031-34814-3_2
    DOI: 10.1007/978-3-031-34814-3_2
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