The Seventh International Conference on Strategic Management in Latin America (SMLA), co-sponsored by Universidad Adolfo Ibáñez and the Journal of Business Research, was held on January 5 and 6, 2017, in Santiago, Chile. The theme of the conference was Challenges for Latin American Firms in a Changing World. Technological innovation, digital networks, in addition to changes in national business settings, have led to significant transformations in business models, innovation processes, corporate strategy, and global strategy in Latin America. The scale and scope of these changes question the traditional notions of strategic management research and practice as we know them. Naturally, these changes require that organizations in the Latin American region develop new resources and capabilities for their success and survival. With the objective of increasing our understanding about how organizations from Latin America can leverage their competitive position in a changing world, this article reflects on the theme of the conference and introduces some of the best research that was part of the conference's program.