Self-Inflicted Industry Wounds Early Warning Signals and Pelican Gambits

Systemic risks arising from underlying interdependencies can create havoc at an industry level and are often too formidable for any single firm to manage. The contagion effects of these risks, including the recent financial crisis, offshore oil spills, and the Japanese nuclear disaster, have upended...

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Bibliographic Details
Published inCalifornia management review Vol. 55; no. 2; pp. 24 - 45
Main Authors Donaldson, Thomas, Schoemaker, Paul J.H.
Format Journal Article
LanguageEnglish
Published Los Angeles, CA The University of California Press 01.01.2013
SAGE Publications
Subjects
Banking industry
Business ethics
Business risks
Chemicals industries
Cooperation
Defense industries
Economic regulation
Financial crisis
Financial services industries
Industrial disasters
Industrial regulation
Leadership
Management science
Management theory
Marine
Organizational behavior
Organizational behaviour
Pharmaceutical industry
Planning methods
Risk management
Risk theory
Social responsibility
Strategic management
Studies
Systemic risk
Japan
Strategic management
Risk management
Ethics
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Summary:Systemic risks arising from underlying interdependencies can create havoc at an industry level and are often too formidable for any single firm to manage. The contagion effects of these risks, including the recent financial crisis, offshore oil spills, and the Japanese nuclear disaster, have upended industry practices. Sometimes they have even pulled economies apart at the seams. We recommend that leaders heed models of cooperative behavior found in nature by engaging in “Pelican Gambits,” which we define as strategic moves towards cooperation in highly competitive economic environments for the purpose of limiting risk to one's firm, the industry and society.
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ISSN:0008-1256
2162-8564
DOI:10.1525/cmr.2013.55.2.24