Learning from each other's crisis management
Don't fear doomsday, but invest in innovation before a crisis hits, says Professor Bram Timmermans. Handling external shocks was the topic when NHH and Telenor invited to "The HUB Summit".
The crises are waiting in line for today's leaders. Norwegian businesses are still affected by the pandemic, and the war and the energy crisis affect commodity prices, production and value chains. At the same time, companies must deal with the ongoing climate crisis.
These topics were all discussed when NHH and Telenor on Tuesday 22 November invited Norwegian leaders to "The HUB Summit 2022", a meeting place to discuss sustainable growth in a digital age.
"The HUB Summit" is the largest event of the The Digital Transformation Hub at NHH. See more information in the fact box.
Digital Transformation HUB (The HUB) is a learning and dissemination arena where leaders in the private and public sector meet researchers from the research center DIG - Digital Innovation for sustainable Growth at NHH.
The aim of the arena is to contribute to a successful digital transformation of Norway.
The HUB was founded by NHH Norwegian School of Economics and Telenor, and was launched during Arendalsuken in 2019.
The HUB is located at the Department of Strategy and Management at NHH.
Usually comes as a surprise
"Most crises come as a surprise to companies, and there is not necessarily a recipe for how you as a manager should react. However, research shows that companies that are agile and good at innovation often manage crises in a better way," says Professor Bram Timmermans.
He is head of the DIG center which is responsible for the research that was presented at the leaders' meeting.
He emphasizes that work on innovation should take place before the crisis occurs.
"This does not mean that you should prepare your company for doomsday, but if you believe the power of innovation will be the the solution to possible crises, you must not wait until you have the crisis in your lap to work on innovation."
Glimpses from The HUB Summit 2022
All photos: Ingunn Gjærde