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A growing body of literature has emphasized the importance of innovative strategy as a source of competitive advantage. Drazin and Shoonhoven summarized the literature using multilevel theoretical perspectives (community, population, and organization) that affect organizational innovative behavior. In parallel, Fiegenbaum et al. developed an organizational level theory, based on prospect theory, to explain how risky strategies are determined within organizations. They argued that organizational reference points delineate organizational attitudes toward risk‐taking into two polarized regimes: risk‐aversive whereas below it is risk‐assertive. They described the organizational mechanism that converts attitudes toward risk‐taking into actual risk‐aversive and risk‐assertive strategic behavior. A three‐dimensional space is provided that illustrates the spectrum of strategic reference points (SRP). The current study extends SRP theory. It is proposed that the nature of the industry, organizational strategy, and performance impact the kind of reference points used, which, in turn, impact risk‐taking behavior towards innovative strategy.

During the current century, environmental sustainability and waste reduction processes have always been subject to scrutiny in developed societies. Developed communities have gained considerable momentum by investing in environmental infrastructure and integrating corporate performance disclosure and less developed communities are involved with it. Carbon disclosure is one of the aspects of green accounting in “corporate strategies,” especially those operating across the capital market. Adherence to the disclosure of facts can facilitate sustainable development in societies. This study aims to present strategic reference points matrix-based model to develop a framework for carbon disclosure strategies through institutional and stakeholder pressures throughout the capital market.

As a case study, by reviewing similar research on carbon disclosure, this study seeks to illustrate various carbon disclosure aspects and strategies in a matrix based on institutional (vertical axis) and stakeholder (horizontal axis) pressures

The study attempts to states that carbon disclosure is affected solely by the company because of the presence of agency gaps between external stakeholders and corporate executives.

However, the firm’s decision to adopt a carbon disclosure strategy depends on the performance of stakeholder pressure (stakeholder salience level) and managers’ perceptions of institutional pressure (institutional pressure centrality level).

The concept of strategic groups is a central theme in the field of strategic management, and over time it has been used by a considerable body of theoretical and empirical literature to examine different aspects of competitive strategy. However, to date, there has been little systematic investigation that examines aspects associated with competitive benchmarking and the impact and effect that this has on strategy development. Thus despite the level of knowledge that has been accumulated over the years regarding the dynamics of competitive landscapes, our understanding of the impact and effect of this particular matter on decision making is limited. More importantly, studies that have addressed the topic are either theoretical alone in contents or have only used secondary data. Equally, these studies have approached the subject mostly from an impersonal mathematical perspective and practitioners' views on the issue have been overlooked. This paper aims to address these weaknesses in the literature. In doing so, it seeks to place attention on the individual, which has been overlooked by previous examinations.

The research is cross‐sectional and it is based on primary methodology, having employed qualitative techniques for analysis. It involves face‐to‐face semi‐structured interviews combined with the repertory grid technique. The industry investigated is the UK mainstream leisure foreign package holidays. The sample size is near to the sampling frame of the research and the investigation took place between March and August 2003.

It was found that managers of firms from the same strategic group consider their group as a reference point in their decision‐making process and as a result of their benchmarking observations they adjust their firms' competitive strategies to reflect their group's strategic behaviour. It was also found that firms of the same strategic group are more likely to respond to market conditions and events in a similar manner.

This paper examined issues associated with benchmarking, in the context of strategic groups, having employed primary qualitative research strategies in order to add “fresh” data on a topic that so far has merely been investigated quantitatively through secondary sources alone. As such, it has initiated a much needed contents dimension on the topic to complement the activity and process‐oriented only studies in the area. The research not only tested earlier propositions in order to accumulate more evidence in the field and enable better generalisations on the subject but it has also expanded current theories in the area.

The ultimate purpose of this paper it to encourage international business scholars and managers to pay more attention to global social time when performing research and developing business strategy.

Strategic reference point (SRP) theory is used as a foundation to assist in visualizing the meaning of social time in a global context. From this grounding point, the authors make specific suggestions about the importance of the topic despite it being largely overlooked in international research dating back to Hofstede.

Time utility takes on a significantly different meaning when both a marketing manager's context and market are global. The conceptualization of time by different cultures can yield significantly different meanings based upon a culture's SRP(s) as to how social time is measured. Cultural differences necessitate having this flexible orientation towards social time to effectively develop and implement global marketing strategies. This research addresses the importance of breaking‐down the concept of social time into its fundamental dimensions and developing strategic implementation steps using the dimensions of time as competitive tools in the global marketing arena.

A six‐step process is developed to assist marketing researchers and managers in developing social time sensitive marketing strategies. Researchers and managers must be aware of the differences in social time perspectives and should analyze the situation to ascertain differences in the dimensions of each cross cultural group. An effort must be made to combine these varying social time perspectives into a consolidated social time foundation for the marketing team in the host country. Differences in social time must be taken into consideration when developing/executing strategies in other countries that have different social time perspectives.

Breaking new ground in international business, this paper sets the ground work for the future study of up to 12 different streams of research important to the understanding of (global) time in international business. Managerial tools are included in the discussion to assist in international marketing practice.

The purpose of this paper is to study the strategic process of small- and medium-sized enterprises (SMEs) including strategic reference points (SRP) (Fiegenbaum et al., 1996).

The paper identifies the strategic positioning of SMEs (Lavie and Fiegenbaum, 2000, 2003) according to the importance that their managers give to internal and external SRP. Their influence on strategic types (Miles and Snow, 1978) and performance are analysed. This study uses information, from 83 SMEs in the Canary Islands (Spain), collected with a questionnaire.

SMEs are primarily adaptive firms followed by narcissist ones: numerous SMEs focus their attention on internal SRPs. SMEs strategic positioning determines their strategic orientations to a much lesser extent than their characteristics (sector, size and age) do. The results show that product specialisation, the only difference between adaptive SMEs and narcissist and amorphous ones, is not evident in their performance.

Decision makers and institutions should reflect about the maturity of the strategic process and the adaptation dynamic of SMEs. The need for SMEs to focus on their external vision should be highlighted.

The study includes SRP in the strategic process of SMEs. It contributes to the literature by drawing a map of the strategic positioning of SMEs, based on their SRPs (Lavie and Fiegenbaum (2000, 2003) and by linking the strategic positioning of SMEs with their strategic types. It also has the value of applying the Rasch Rating Scale Model (Andrich, 1978, 1988).

The purpose of this paper is to investigate the human resource factors (rewards, training teamwork and empowerment) that affect service recovery performance (SRP) of customer service employees in life insurances companies. Life insurances industries in Malaysia are facing stiff competitions due to growing consumerism, changing consumer choices and expectations. SRP is very important aspect in the insurances firms toward retaining the customer and one of the key competitive advantages for sustainability and adding value to the organization in the future.

The data obtained from 350 customer service employees based on convenience sampling were analyzed using regression and hierarchical analysis.

There are two factors, namely, empowerment and training, affecting the SRP. The employment status moderated the relationship between reward and SRP. The limitations of this study have been noted and further research suggestions are also included that are very important for SRP.

This study has added knowledge regarding the factors that affect SRP, in general, and precisely in life insurance industries in Malaysian context.

Socially responsible procurement (SRP) utilises government expenditure on construction procurement as a means of generating social value from construction activities. The paper proposes that SRP is a type of innovation delivering social value in the form of employment opportunities to local communities. The purpose of this paper is to investigate the use of SRP in Northern Ireland procurement and align the findings with existing literature.

A three-stage approach was employed, namely, first, a review of innovation and SRP literature; second, a survey of 50 Northern Ireland construction organisations to extract perceptions of SRP in practice; and third, qualitative analysis of the literature with the empirical insights.

Findings show that SRP is being driven by social legislation and being delivered by contractors as part of their contractual obligations. SRP represents a significant shift from standard construction practice which makes it challenging to implement using traditional processes and systems. It is found that SRP is generating social benefits through employment creation and the feedback from employees is largely positive. However, it is proposed that contractors need to adopt a more person-centric approach to the implementation of SRP to sustain the benefits being currently evidenced.

The study suggests that there is an urgent need for more holistic measurement of impacts and outcomes of SRP to ensure social targets are appropriate for the communities in which projects are being constructed.

Iran is currently among the countries with high energy consumption levels. Based on the statistics published on the country's hydrocarbon balance sheet, the industrial sector was the largest energy user of all the sectors, followed by the household and transportation sectors. Besides, production lines account for the highest percentage of the industrial sector energy consumption. Accordingly, this paper aims to investigate the effects of coordinated energy management and manufacturing strategies to increase energy management performance.

This paper collected the required information on energy management and manufacturing from the experts of petrochemical companies; and oil and gas refineries and then examined their relationship. Moreover, the questionnaire tool was used to measure the independent variable.

The evaluations showed that organizations with coordinated and uncoordinated strategies do not exhibit equal energy management performance. Organizations with a coordinated combination of strategies have higher energy management performance than those with an uncoordinated combination of strategies. Combinations such as 11, 22, 33 and 44 are among the more coordinated combinations, which lead to higher performance.

Reviewing the studies in this regard revealed that limited and a handful of research papers were carried out on organizations' energy management strategies. None of the existing research has considered energy management strategies as a subsystem of an organization or specified its coordination with manufacturing strategies. However, this research has delved into this issue and our findings confirm certain assumptions of past studies and contribute to evaluating its effects on energy management performance.