We analyze performance and emotions as antecedents and consequences of team strategic decisions to explore a new routine versus exploiting an existing one. In a laboratory study, we examine team ...decision making over time and draw causal inferences about the relationships among team emotions, team performance, and explore-exploit decisions. We use self-report data to measure team emotions, and validate results with psychophysiological data. We find that declines in performance increase the likelihood that teams decide to explore new routines rather than exploit existing ones. We also find a marginal positive effect of positive emotions, as measured by both self-report and psychophysiological data, on team decisions to explore a new routine. Further, teams successful at implementing new routines report increased positive emotions, as measured by the self-report data. This relationship is fully mediated by performance change.
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BFBNIB, FZAB, GIS, IJS, KILJ, NLZOH, NUK, OILJ, SAZU, SBCE, SBMB, UL, UM, UPUK
The strategy-by-doing perspective argues that firms operating in highly dynamic environments can benefit from taking strategic actions in lieu of advance planning because such actions have learning ...effects that help the firm keep pace with changes in the environment. The implicit assumption is that strategy by doing is effective in dynamic environments but likely not in stable environments. This study challenges this notion and expands the purview of the strategy-by-doing perspective. We first argue that strategy by doing is generally an effective strategy due to the organizational learning it facilitates. We next discuss how environmental dynamism is multidimensional, encompassing both market and technological dynamism. The positive effects of strategy by doing on product-market performance are amplified in highly dynamic environments that feature high levels of both market and technological dynamism. We go on to argue that stable environments are also suitable for strategy by doing, where it can facilitate opportunity creation. However, strategy by doing may hinder performance in mixed environments where one form of dynamism is present and the other is not. Focusing on strategy by doing in the form of product changes, our analysis of 4,000 firms over a period of 20 years shows support for our arguments about environmental contingencies affecting the relationship between strategy by doing and performance. We discuss how these findings have implications for theory and practice.
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NUK, OILJ, SAZU, UKNU, UL, UM, UPUK
This study examines and extends the resource dependence logic of diversification for a better understanding of outward foreign direct investment (OFDI) activities by emerging market firms. We contend ...that the diversification logic is bounded by state ownership, an important but less considered component of interdependence. Our empirical results, based on panel data analysis of Chinese listed firms, suggest that the level of interdependence between Chinese and foreign firms in China in multiple forms, including symbiotic, competitive, and partner interdependencies, is positively associated with the level of the Chinese firms' OFDI activities. However, Chinese firms with higher levels of state ownership are less susceptible to the pressures imposed by foreign firms to invest abroad.
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Research Summary
We introduce an innovative method of identifying the risk‐management benefit of corporate social responsibility (CSR). Option‐implied volatility captures the financial markets' ...expectations of a firm's future risk, so if CSR is related to risk‐management benefits, it should be related to lower implied volatility. We find that CSR is associated with low implied volatility and that CSR's insurance benefit is larger for firms that have high leverage, growth opportunities, or uncertainty. However, CSR as an insurance mechanism is less beneficial to firms that are already sound (i.e., those that have high market value and good accounting and financial performance). The results reveal the “terms” of a CSR‐as‐insurance contract, confirm that CSR creates risk‐management benefits, and suggest that financial markets price this benefit in economically significant ways.
Managerial Summary
We suggest a practical technique of evaluating a firm's CSR policy. For example, a manager would simply check how a firm's implied volatility changes as its CSR policy changes. Or, the manager can compare a firm's and its comparable firms' implied volatilities to knowhow financial markets perceive the firm's CSR differently. Option implied volatilities could guide a firm to identify proper CSR‐based risk‐management policies because they have the advantage of being ex ante, real‐time, and objectively observable market‐pricing information in identifying the risk‐management benefit of CSR. Our results also illustrate how a financial expert can use the valuable insight of strategic management literature about CSR‐as‐insurance to price derivative contracts.
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PurposeThis study aims to determine the simultaneous effect of exporting firms' competitive strategies and capabilities on the achievement of competitive advantages and export performance under the ...boundary conditions of competitive intensity. In so doing, the study combines the alternative theoretical lenses of the resource-based view (RBV) and the structure–conduct–performance (SCP) paradigm.Design/methodology/approachPrimary data were obtained from 281 Turkish manufacturer–exporter firms operating in different sectors and located in several regions of the country. Structural equation modeling was utilized to test our conceptual framework, which combined the effects of RBV-based and SCP-based factors on competitive advantages and export performance under the moderating influence of competitive intensity.FindingsThis study reveals that unique firm capabilities, specifically informational, relational, and marketing capabilities, and competitive strategies, including differentiation and cost leadership, provide export firms with a competitive advantage and improve their export performance in foreign markets. Furthermore, competitive advantages partially mediate the effects of competitive strategies and unique firm capabilities on export performance. Finally, unexpectedly, and contrary to most of the existing literature, we find that competitive intensity negatively moderates the link between service advantages and export performance.Originality/valueThis research offers a comprehensive view of manufacturer–exporter firms' export performance by accounting for the overlooked simultaneous effect of firm capabilities and competitive strategies through the mediation of competitive advantages and under the boundary conditions of competitive intensity.
A recent study by Fitza argued that the prior estimates of the Chief Executive Officer (CEO) effect are conflated with events outside the CEO's control, are largely the result of random chance, and ...that the true CEO effect is smaller than has been previously estimated. We suggest that the empirical methodology employed by Fitza to support these claims substantially overstates the "random chance" element of the CEO effect. We replicate Fitza's findings, highlight methodological issues, offer alternative conclusions, and using multilevel modeling (MLM), suggest that his analyses mischaracterize the CEO effect.
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У cmammi розглянуто сутнють i складов/ конвергентност/ як суб'ект/в створення i суб'ектю споживання /нноващйних щнностей. Доведено, що конвергентн/ İHeecmuuiÜHİ процеси означають не тмьки ...технолог/чне ов'еднання, але й /нтегращю р/зних сектор/в, що створюе умови для комплексного розвитку та використання синергн. Запропоновано розглядати конвергентн/ складов/ через конвергентне поле, яке являе совою динам/чне та взаемод/юче середовище, в якому в/дбуваеться ов'еднання р/зних чинник/в для досягнення сп/льних щлей та створення нових можливостей. Це дозволило визначити îx i обСрунтувати сутн/сне i функц/ональне навантаження при впровадження /нноващйних npouecie на п/дприемств/ в умовах диджиталиаци. Визначено, що орган/зац/я конвергентних ¡нвестищй передбачае формування м/жфункщональних команд, що сп/впрацюють для оптимиаци pecypcie i досягнення максимально/ вартост/ п/дприемства, спираючись на процесний п/дх/д. Важливою частиною функц/онально/ структура e визначення можливо/ компетентн/сно/ взаемод// при впровадженн/ технолог/чних /нновац/й, що дозволяють об'еднувати р/знор/внев/ процеси та п/дходи в /нтелектуал/защ/ пращ. Зд/йснення структуризаци конвергентност/ взаемод/ючих елемент/в при впровадженн/ /нновац/й в динам/чному б/знес-середовищ/ в/дбуваеться на nidcmaei узгодженост/ та ефективного вир/шення завдань в рамках конвергентних /нвестищйних npouecie, що сприяе створенню /нноващйних р/шень та забезпечуе конкуренты переваги п/дприемства приемства в динам/чному б/знес-середовищ/.
Researchers emphasize the need for communication to be part of the strategic management of an organization and its importance to the organization is recognized, yet the role of communication as a ...success and value creator for business organizations is not appreciated. This paper presents a study that aims to explore the perception of the role of communication professionals from the perspective of CEOs of business organizations. Semi-structured individual interviews were used to gather the views of CEOs of business organizations. The results of the research revealed a paradox that has not been explored so far. While CEOs of business organizations do not see top-level communication professionals as technical staff, but rather as having a strategic advisory role, the need of CEOs for the capabilities of communication professionals in the strategy development process is more of a technical operational rather than a strategic nature. CEOs tend to ignore the core mission of strategic communication which is to align the communication strategy with the business organization's strategy. The traditional view of the role of communication professionals leads to the perception that communication professionals are not perceived as important strategists in the development and implementation of the business organization's strategy.
The article is devoted to the study of the significance of innovations in the system of strategic management of the security of the national economy in the context of globalization and uncertainty. ...The strategically important tasks of the modern state are the development of domestic science-intensive production, the development, implementation, development of innovative information technologies focused on the production of competitive products. It is concluded that innovations in the conditions of an innovative economy are not only the final commercialized result of innovative activity that has received demand among individual consumers, but also intermediate results of the innovation process in the form of an innovative idea being implemented in the field of marketing, management, and personnel management. The article systematizes the attributive properties of innovations in the conditions of an innovative economy. The degree of entrepreneurial risk is analyzed due to the need to constantly search for new ways of doing business in a changing external environment and in conditions of high competition. The concepts of “innovative activity” and “innovative process” in the system of innovative economy are distinguished. The system of innovativeness of entrepreneurship in an innovative economy is generalized, if an entrepreneur at any specific stages of the life cycle seeks to introduce innovations, new technologies, innovative forms of personnel management or non-standard forms of interaction with competitors.
El COVID-19, convertido en un problema de orden mundial, afecto, primero, a toda la humanidad produciendo una crisis sanitaria; y, segundo, impacto la economfa global. Esta investigation trata sobre ...la afectacion economica y social de las Pymes colombianas y como se puede superar la situacion de cierre o quiebra financiera. Se estima que durante la pandemia en Colombia, en 2020, se perdieron 3,9 millones de empleos, disminuyo el PIB y las exportaciones. Se realizo un analisis para proponer la planificacion estrategica como metodo para evitar el cierre definitivo de las empresas, muestra tomada en el Municipio de Garzon, departamento del Huila. Del analisis de los resultados, resalta que los empresarios que usan la planificacion estrategica pueden disminuir el nivel de afectacion de las empresas en sus procesos internos y sus recursos. Como conclusion se evidencia que el direccionamiento estrategico es un proceso clave para la supervivencia de las Pymes.
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CEKLJ, IZUM, KILJ, NUK, ODKLJ, PILJ, SAZU, UL, UM, UPUK
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