This panel centers around new insights on how organizations learn to manage key dynamics around emotions, and impression management in strategic decision making in both young and established firms. Organizations rely on a mix of activities, including corporate venturing, joint ventures, and M&A to extend and transform their resource base. Yet, despite the importance or such transformational activities to muster proper responses to technological disruption and environmental volatility, few master the learning, emotions, and announcement dynamics that accompany these activities. This panel aims to review past insights and offer new research ideas. Key questions that will be discussed are e.g., how do young and established firms transform their portfolio? In what ways can can learn to manage impressions? How do CEO key traits, e.g., emotion stability, affect acquisition announcement returns? How do these factors influence the firm’s ability to create new segments and industries?