Managing Strategic Flexibility in Industry 5.0 Transition : An Integrated Real Options and Strategic Foresight Approach

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dc.contributor.authorSavolainen, Jyrki
dc.contributor.authorKnudsen, Mikkel Stein
dc.contributor.organizationfi=tulevaisuuden tutkimuskeskus|en=Finland Futures Research Centre (FFRC)|
dc.contributor.organization-code1.2.246.10.2458963.20.36987167164
dc.converis.publication-id477979056
dc.converis.urlhttps://research.utu.fi/converis/portal/Publication/477979056
dc.date.accessioned2025-08-27T23:35:57Z
dc.date.available2025-08-27T23:35:57Z
dc.description.abstract<p>This chapter deals with the corporate investment decision-making strategies amid the transformative landscape of Industry 5.0 and system-level Digital Twins Twinning. Through the lens of Strategic Foresight (SF) and Real Options (RO), the chapter both identifies a methodological gap in the literature regarding the integration of ROs and SF and underscores the potential synergy between these two fields. It is suggested that ROs can adeptly address numerical uncertainties in resource exploitation business cases, while SF serves as a valuable qualitative exploration tool under structural or radical uncertainty. A high-level, integrated decision framework is drafted, and its applicability is discussed within the Industry 5.0 context of system-level Digital Twins.<br></p>
dc.format.pagerange109
dc.format.pagerange134
dc.identifier.eisbn978-3-031-74779-3
dc.identifier.isbn978-3-031-74781-6
dc.identifier.issn2730-6623
dc.identifier.olddbid204267
dc.identifier.oldhandle10024/187294
dc.identifier.urihttps://www.utupub.fi/handle/11111/52479
dc.identifier.urlhttps://doi.org/10.1007/978-3-031-74779-3_5
dc.identifier.urnURN:NBN:fi-fe2025082790376
dc.language.isoen
dc.okm.affiliatedauthorKnudsen, Mikkel
dc.okm.discipline512 Business and managementen_GB
dc.okm.discipline512 Liiketaloustiedefi_FI
dc.okm.internationalcopublicationnot an international co-publication
dc.okm.internationalityInternational publication
dc.okm.typeA3 Book
dc.publisherPalgrave Macmillan
dc.publisher.countrySwitzerlanden_GB
dc.publisher.countrySveitsifi_FI
dc.publisher.country-codeCH
dc.publisher.isbn978-3-319; 978-0-230; 978-0-333; 978-1-137; 978-1-349; 978-1-4472; 978-1-78632; 978-0-312; 978-1-4039; 978-1-137; 978-981-13; 978-981-10; 978-3-030; 978-981-15; 978-981-16; 978-3-031
dc.relation.doi10.1007/978-3-031-74779-3_5
dc.relation.ispartofseriesTechnology, Work and Globalization
dc.source.identifierhttps://www.utupub.fi/handle/10024/187294
dc.titleManaging Strategic Flexibility in Industry 5.0 Transition : An Integrated Real Options and Strategic Foresight Approach
dc.title.bookContemporary Issues in Industry 5.0 : Towards an AI Integrated Society
dc.year.issued2025

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