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1 – 10 of over 2000
Book part
Publication date: 22 November 2023

A. Erin Bass, Ivana Milosevic and Sarah DeArmond

A growing body of literature suggests that unpredictable, resource-depleting shocks – ranging from natural disasters to public health crises and beyond – require the firm to…

Abstract

A growing body of literature suggests that unpredictable, resource-depleting shocks – ranging from natural disasters to public health crises and beyond – require the firm to respond adaptively. However, how firms do so remains largely undertheorized. To contribute to this line of literature, the authors borrow from the conservation of resources (COR) theory of stress and the dynamic capabilities perspective to introduce the concept of firm stress – a state of reduced and irregular readiness firms enter into following unpredictable, resource-depleting shocks. Our theoretical model illustrates that firms must punctuate the stress state to adapt by first deploying a retrenchment response, thereby conserving resources and allowing the firm to consider how to best redeploy its dynamic capabilities to adapt. Subsequently, the firm can redeploy its capabilities and adaptively respond in one of three ways: exiting (reconfiguring resources for alternative use), persevering (reconfiguring resources for better use), or innovating (developing new resources). Overall, the authors offer a process model of firm stress and adaptive responses following an unpredictable, resource-depleting shock that paves the way for future research on stress in the strategy literature.

Book part
Publication date: 31 January 2015

Katharina Maria Hofer, Lisa Maria Niehoff and Gerhard A. Wuehrer

In this study, we examine the influence of different components of dynamic capabilities on value-based pricing and export performance. We develop a research model investigating…

Abstract

In this study, we examine the influence of different components of dynamic capabilities on value-based pricing and export performance. We develop a research model investigating the three component factors of dynamic capabilities, that is, adaptive capability, absorptive capability, and innovative capability, and their respective influence on value-based pricing and export performance. Furthermore, we hypothesize a relationship between value-based pricing and export performance. Building upon a sample of 172 Austrian CEOs and marketing managers, we test our hypotheses through structural equation modeling using partial least squares. The results reveal that a firm’s adaptive capability and innovative capability both positively influence value-based pricing. Furthermore, our results show that adaptive capability has a positive influence on export performance. The relationship between value-based pricing and export performance could not be supported. Hence, we conclude that a firm’s adaptive capability plays a central role in international pricing and leads to enhanced export performance.

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Entrepreneurship in International Marketing
Type: Book
ISBN: 978-1-78441-448-1

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Book part
Publication date: 14 September 2007

Robert P. Garrett and Jeffrey G. Covin

In business environments characterized by intense competition, globalization, rapid technological diffusion, accelerated product life cycles, and evolving industry boundaries, the…

Abstract

In business environments characterized by intense competition, globalization, rapid technological diffusion, accelerated product life cycles, and evolving industry boundaries, the ability of firms to adapt effectively to their changing environments is a strategic imperative (Hitt, Keats, & DeMarie, 1998; Nadler & Tushman, 1999). The exhibition of strategic adaptability – the ability of a firm to alter its alignment with the environment through reactive and proactive behaviors (Evans, 1991) – is a function of the goodness-of-fit that exists between the capabilities of a firm and the demands imposed by its relevant industry context (Burgelman & Grove, 1996). When firm capabilities are well aligned with industry success factors, those capabilities constitute strategic assets for the firm, or resources that lead to the achievement of competitive success in that context (Amit & Schoemaker, 1993). The possession of strategic assets thus contributes to a state of adaptation, defined by Chakravarthy (1982) as a state in which an organization exhibits the capacity to survive the conditions of its changing environment. Because of the constantly shifting nature of the environment, a state of adaptation is not a permanent settling point for the organization, but rather a moving target for the organization as it attempts to remain “mapped on” to the exigencies of the environment.

Details

Entrepreneurial Strategic Processes
Type: Book
ISBN: 978-0-7623-1429-4

Book part
Publication date: 6 September 2021

Torben Juul Andersen

The author introduces a strategic responsiveness model that reflects an organization’s ability to sense environmental changes and learn from emergent adaptive responses that…

Abstract

The author introduces a strategic responsiveness model that reflects an organization’s ability to sense environmental changes and learn from emergent adaptive responses that attempt to realign organizational activities and gain a better fit with the changing conditions. The author shows in computational simulations how superior strategic adaptation is associated with higher average returns and lower performance risk among firms that compete in the same industry contexts and generate negatively skewed outcome distributions consistent with empirical observations. The model is refined to incorporate an interactive strategy-making process, where experiential insights from decentralized initiatives update forward-looking projections in central planning. The ensuing analysis demonstrates how this adaptive strategy-making approach further enhances the favorable risk-return outcomes. The author discusses these findings and the implications for the study of dynamic adaptive strategy-making processes.

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Strategic Responses for a Sustainable Future: New Research in International Management
Type: Book
ISBN: 978-1-80071-929-3

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Book part
Publication date: 22 November 2018

Younggeun Lee and Patrick M. Kreiser

In this chapter, the authors examine the main effect of entrepreneurial orientation (EO) – a firm’s strategic entrepreneurial posture – on balancing exploration and exploitation…

Abstract

In this chapter, the authors examine the main effect of entrepreneurial orientation (EO) – a firm’s strategic entrepreneurial posture – on balancing exploration and exploitation in the form of organizational ambidexterity. Resource-constrained firms face an imperative to conduct innovative activities, survive hostile environments, and compete with larger and more resource-rich firms. The authors contend that firms can address these potential impediments through achieving ambidexterity via dynamic capabilities, firm-specific resources, and institutional factors. Specifically, The authors review the EO and ambidexterity literatures and summarize extant arguments related to the relationship between EO, exploration, and exploitation. The authors also discuss the most prominent scales and measures of EO, exploration, and exploitation. Moreover, the authors discuss operationalizational challenges that should be considered when conducting EO–ambidexterity research and suggest future research directions by specifying an agenda outlining useful theoretical perspectives and various contingencies that may influence the EO–ambidexterity relationship.

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The Challenges of Corporate Entrepreneurship in the Disruptive Age
Type: Book
ISBN: 978-1-78754-443-7

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Book part
Publication date: 6 September 2021

Line Ettrich and Torben Juul Andersen

The world in which companies operate today is volatile, uncertain, complex, and ambiguous, thus subjecting contemporary forms to an array of risks that challenge their viability…

Abstract

The world in which companies operate today is volatile, uncertain, complex, and ambiguous, thus subjecting contemporary forms to an array of risks that challenge their viability in an increasingly competitive landscape. Organizations that cling to their traditional ways of operating impede their ability to survive while those able to embrace evolving changes and lever their strategic response capabilities (SRCs) will thrive against the odds. The possession of such capabilities has become a prominent explanation for effective adaptation to the impending changes but is rarely analyzed and tested empirically. Strategic adaptation typically assumes innovation as an important component, but we know little about how the innovative processes interact with the firm’s SRCs. Hence, this study investigates these implied relationships to discern their effects on organizational performance and risk outcomes. It explores the effects of SRCs and the role of innovation as intertwined adaptive mechanisms supporting strategic renewal that can attain superior performance and risk effects. The relationships are analyzed based on a large sample of US manufacturing firms over the decade 2010–2019. The study reveals that firms possessing effective SRCs have the ability to exploit opportunities and deflect risky situations to gain favorable performance and risk outcomes. While innovation indeed plays a role, the precise nature and dynamic effect thereof remain inconclusive.

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Strategic Responses for a Sustainable Future: New Research in International Management
Type: Book
ISBN: 978-1-80071-929-3

Keywords

Book part
Publication date: 29 September 2023

Torben Juul Andersen

This chapter outlines the major analytical efforts performed as part of the overarching research project with the aim to investigate the organizational and environmental…

Abstract

This chapter outlines the major analytical efforts performed as part of the overarching research project with the aim to investigate the organizational and environmental circumstances around the extreme negatively skewed performance outcomes regularly observed across firms. It presents the collection and treatment of comprehensive European and North American datasets where subsequent analyses reproduce the contours of performance distributions observed in prior empirical studies. Key theoretical perspectives engaged in prior studies of performance data and the implied risk-return relationships are presented and these point to emerging commonalities between empirical findings in the management and finance fields. The results from extended analyses of more fine-grained data from North American manufacturing firms uncover the subtle effects of leadership and structural features, and computational simulations demonstrate how the implied adaptive processes can lead to the empirically observed performance distributions. Finally, the findings from the analytical project activities are set in context and the implications of the observed results are discussed to reach at a final conclusion.

Book part
Publication date: 25 July 2012

Susan Albers Mohrman, Abraham B. (Rami) Shani and Arienne McCracken

Purpose – This chapter frames the topic of organizing for sustainable health care in terms of the environmental trends that have rendered current health care approaches…

Abstract

Purpose – This chapter frames the topic of organizing for sustainable health care in terms of the environmental trends that have rendered current health care approaches unsustainable, the embeddedness of health care in society's triple bottom line, and the need to build adaptive capability within the complex health care ecosystem.

Design/methodology/approach – We synthesize documented trends and empirical findings regarding the viability of current approaches to health care, and provide a theoretically framed treatment of the adaptation process in the complex health care system that can lead to the emergence of sustainable approaches.

Findings – There is a misfit between current approaches to delivering health care and the requirements and trends in contemporary society. Fundamental transformation is required that entails a broadening of purpose, a future orientation, and a rethinking of how health care adds value and how it is embedded in society.

Originality/value – By reconceptualizing health care reform as intricately related to societal sustainability and the triple bottom line, we open the possibility of transcending a narrow focus on reengineering to create more efficient organizations and work processes that consume fewer resources and deliver greater value. We invite health care practitioners and scholars to rethink all the connections in the health care ecosystem, and the need to build in self-organizing capabilities and adaptive capacity. The cases in this book provide knowledge from systems engaged in fundamental transformation, analyzed through the lenses of theoretical frameworks that help us better understand essential dynamics involved in creating sustainable health care systems.

Details

Organizing for Sustainable Health Care
Type: Book
ISBN: 978-1-78190-033-8

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Book part
Publication date: 29 May 2018

Per Andersson

The aim of this chapter is to approach marketing organization from a research perspective, research that reflects contemporary practices of the time. This is done through a review…

Abstract

The aim of this chapter is to approach marketing organization from a research perspective, research that reflects contemporary practices of the time. This is done through a review of some of the central texts in the field. The chapter starts by drawing attention to two previous attempts to review and revisit the field, two influential and frequently cited researchers and texts: Achrol’s (1991) frequently cited article entitled “Evolution of the marketing organization: New forms for turbulent environments” and Homburg and colleagues’ (2000) review a decade later entitled “Fundamental changes in marketing organization: The movement toward a customer-focused organizational structure.”

The chapter then reviews the field around 2010, leading into the author’s own concluding reflections on how circumstances internal and external to organizations have affected the organizing of marketing. The chapter argues that while some ideas and changes after 2010 might be viewed as new, other changes are apparently old changes in new shapes. Attention is drawn to six areas of marketing organization research that have emerged and taken a central position in marketing organization research: (1) the adaptation of marketing practice and organization to various business trends, (2) market- and customer-oriented organizations, (3) shifts in marketing’s general role and influence within the firm, (4) marketing’s strategic role and connection to business management, (5) marketing’s interactions with other internal functions, and (6) marketing organization and the application of a wider spectrum of organization theories.

Content available
Book part
Publication date: 29 September 2023

Torben Juul Andersen

Abstract

Details

A Study of Risky Business Outcomes: Adapting to Strategic Disruption
Type: Book
ISBN: 978-1-83797-074-2

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