Mintzberg’s version of emergent strategy is based on the idea that strategies are contingent on circumstances that change from time to time often very rapidly and therefore papers focused on strategy and detailed planning are limited in their practical application. The word strategy as far as Mintzberg is concerned is anathema, therefore, introducing a concept that has a misconception embedded in it. This paper claims that education for sustainable development and higher education institutions’ survival depends on adopting postmodern thinking, in other words, digital transformation. This conceptual paper proposes a blueprint of a process for developing a series of agile potentially short-term conceptual solutions thereby embracing the expectation that the rate of change in societies is accelerating. This paper scrutinizes (a) the applicability of emergent strategy/strategic approach to higher education institutions, (b) how postmodernism influences higher education institutions to become digital hubs of commoditization of knowledge and (c) how the integrated capabilities of digital transformation build sustainability in education delivery. Structural Equation Methodology is proposed to examine the impact of postmodernism on the sustainable delivery of education in higher education institutions, and the need to foster relevant emergent strategies is also justified. The paper also develops new research propositions and managerial implications for driving optimistic digital education. Ultimately, it offers a framework for spear-leading effective and leading post-modernistic digital transformation. Emerging education technology, sustainable digital transformation and advanced use of robotic-human cognitive collaboration are experiencing a significant transformation. Universities play a vital role in enhancing engagement within higher education. One of the managerial implications of the results and discussion is the need for higher education institutions to provide taught leadership and planning in emergent strategy formulation and implementation. The findings confirm the significant importance of linking the Structural Equation Method and the postmodern strategic context in which we argue that higher education institutions require emerging rethinking.

The purpose of this study is to develop a nested theoretical model (LSS-DC) by critically examining two distinct theoretical concepts, including Lean Six Sigma (LSS) and Dynamic Capabilities (DC), for achieving organizational sustainable performance optimizations (PO). The robust integration of this dynamic concept is achieved using a systematic literature review, synthesis, and empirical evidence derived from 2005 to 2022. The vital benefits of LSS-DC are identified. This study utilizes a systematic literature review method adapted. It reveals the cross-sectional literature search strategy deploying selective keywords DCs, LSS, DCs and LSS, DCs and LSS and PO. In this niche domain employing descriptive and thematic analysis, key insights are extracted from the literature, encompassing a total of 21 peer-reviewed journals. The selection criteria revolve around three aspects: ‘Purpose’, ‘Authorship’, and ‘Credibility and Accuracy’. The authors gathered the secondary data from credible databases such as Scopus, Web of Science, PubMed, ERIC, and IEEE using the keyword search. The study reveals the robust integration of theoretical concepts of LSS and DCs and their impact on organisational performance. The findings suggest that integrating the micro-foundations of DCs (sensing, seizing, and transforming) with LSS allows organisations to not only identify improvement opportunities but also efficiently and effectively act upon them, ultimately leading to sustainable performance optimisation across various aspects of the business. The specific type of DC integration with LSS depends on the organisation’s goals and priorities. The findings of this study are subjective to some extent due to the applied research methodology. Further empirical research is needed to gain a deeper understanding of the phenomenon. This study considers LSS as DC providing an empirical (LSS-DCs) model for sustainable performance optimisation. This is achieved by robustly integrating two distinct theoretical concepts derived from an extensive literature review and the analysis of the data-driven implementation. Finally, the study offers a deeper understanding in terms of how contextual organisational characteristics enhance the outcome of LSS-DC.

Purpose: This conceptual paper aims to explore portfolio replication to resolve post-COVID pandemic private and public debt. This paper stresses the need to be less dependent on a debt-based system and the emergence Islamic equity market.Design/methodology/approach: This study analyses different types of risks involved in Islamic and conventional portfolios by using risk measures such as relative beta and comparatively examining the systematic and downside risk exposure of Islamic and conventional portfolios. Data was collected monthly from 2016 to 2022.Findings: The findings indicate that the replications of a conventional portfolio into an Islamic portfolio are compatible with the regulatory standard, sharia boundaries and professional practices developed from investment theory. The result shows that Islamic portfolios have lower risk exposure compared with their conventional counterparts in most of the sample years, therefore, become further attractive for debt–equity portfolio swaps and Sharia-compliant investors preferring low-risk preferences. The result confirmed that the Islamic portfolios have a higher return and less risk than conventional portfolios.Research limitations/implications: The implications of this research are to provide a road map to the regulators, policymakers, governments and the financial industry on how to rearrange some of the public and private debt. A likely remedy is incorporating Islamic financial instrument principles through the equitisation of public and private debt.Practical implications: This research contributes to investors (particularly those who want to avoid riba [usury] based investment) to make more diversified portfolios by considering Islamic portfolios to reduce risk exposure.Originality/value: To the best of the authors’ knowledge, this is the first paper to create bivariate debt–equity portfolios swaps composed of Islamic and conventional assets.