Building Organizational Capabilities for Managing Economic Crisis: The Role of Market Orientation and Strategic Flexibility
Firms around the world often must manage and survive economic crises. Recent cases in Asia, Eastern Europe, and South America bear testimony to this point. As economic weak spots are integrated into the global economy, it is timely to develop an understanding of organizational capabilities that can...
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| Veröffentlicht in: | Journal of marketing 2001-04, Vol.65 (2), p.67-80 |
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| creator | Grewal, Rajdeep Tansuhaj, Patriya |
| description | Firms around the world often must manage and survive economic crises. Recent cases in Asia, Eastern Europe, and South America bear testimony to this point. As economic weak spots are integrated into the global economy, it is timely to develop an understanding of organizational capabilities that can help firms manage their way through such crises. The authors investigate the role of market orientation and strategic flexibility in helping Thai firms manage the recent Asian crisis. The results demonstrate the contingent nature of the influence of market orientation and strategic flexibility on firm performance after a crisis has occurred. As hypothesized, market orientation has an adverse effect on firm performance after a crisis. This effect is moderated by demand and technological uncertainty and is enhanced by competitive intensity. In contrast, strategic flexibility has a positive influence on firm performance after a crisis, which is enhanced by competitive intensity and moderated by demand and technological uncertainty. It seems that market orientation and strategic flexibility complement each other in their efficacy to help firms manage varying environmental conditions. |
| doi_str_mv | 10.1509/jmkg.65.2.67.18259 |
| format | Article |
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Recent cases in Asia, Eastern Europe, and South America bear testimony to this point. As economic weak spots are integrated into the global economy, it is timely to develop an understanding of organizational capabilities that can help firms manage their way through such crises. The authors investigate the role of market orientation and strategic flexibility in helping Thai firms manage the recent Asian crisis. The results demonstrate the contingent nature of the influence of market orientation and strategic flexibility on firm performance after a crisis has occurred. As hypothesized, market orientation has an adverse effect on firm performance after a crisis. This effect is moderated by demand and technological uncertainty and is enhanced by competitive intensity. In contrast, strategic flexibility has a positive influence on firm performance after a crisis, which is enhanced by competitive intensity and moderated by demand and technological uncertainty. It seems that market orientation and strategic flexibility complement each other in their efficacy to help firms manage varying environmental conditions.</abstract><cop>Chicago</cop><pub>American Marketing Association</pub><doi>10.1509/jmkg.65.2.67.18259</doi><tpages>14</tpages></addata></record> |
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| subjects | Business cycles Business structures Economic crises Economic crisis Economic fluctuations Economic growth Economic research Economic resources Economic uncertainty Financial management Flexibility GDP Gross Domestic Product Hypotheses Influence Management of crises Market demand Market orientation Marketing Product development Strategic management Studies Trends |
| title | Building Organizational Capabilities for Managing Economic Crisis: The Role of Market Orientation and Strategic Flexibility |
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