Abstract: This paper aims to explore a new causal link between market orientation and business performance by introducing dynamic capabilities as a mediator of the relationship between market orientation and competitive advantages, which ultimately determine business performance.,The mediating roles of dynamic capabilities and competitive advantages are tested with a sample of 1,190 Portuguese firms using a structural equation model.,The results confirm the hypotheses regarding the mediating roles of the competitive advantages (differentiation and cost leadership) in the relationship between dynamic capabilities and business performance. Additionally, dynamic capabilities also mediate the relationship between market orientation and competitive advantages.,This study shows that business performance depends on the capacity of firms to collect the best market information on customers and competitors, to disseminate this information throughout their internal structure and ultimately optimize its use to respond appropriately to market challenges and trends. These will provide firms with a set of capabilities and a competitive advantage.,This study provides empirical evidence on the understanding of the relationship between market orientation and performance, through the mediating effects of both dynamic capabilities and competitive advantages.

Abstract: The purpose of this study was to identify if network embeddedness and innovation performance relationship, which has been largely studied in multinational enterprises (MNEs) and large corporations, was also applicable in the context of small and medium-sized enterprises (SMEs). Secondly, the authors also sought to identify the moderating role of innovation openness in the relationship between network embeddedness and SMEs' innovation performance.,Empirical analysis was based on 388 SMEs in Ghana. Various validity and reliability checks were conducted before the presentation of the actual analysis, which was conducted using the structural equation modeling in Amos (v.23).,Findings revealed that, in the context of SMEs, network embeddedness had significant positive effect on innovation performance. The authors further identified that SMEs with both high levels of network embeddedness and innovation openness had a much higher performance in their innovation, compared to SMEs that relied solely on network embeddedness.,The current study found innovation openness to further strengthen the relationship between network embeddedness and SMEs' innovation performance. The relationship between network embedded and SME's innovation could, however, be mediated by knowledge transfer mechanisms, so future studies should pay particular attention to the mediating mechanisms.,Management of SMEs is advised to develop conducive organizational structures, such as trust, openness to collaboration and so on, for effective innovative knowledge transfer and transformation.,Past research studies on network embeddedness and innovation performance have dominantly resided in MNE and large corporations. This current study extends the body of knowledge by extending the network embeddedness and innovation performance research studies to SME context.

Abstract: Although the significance of small and medium enterprises (SMEs) in influencing economic growth is recognized, the performance of SMEs all over the world including Nigeria is unanticipated. Thus, this research aims to investigate the effect of strategic flexibility by moderating the effects of sustainability strategy on the SMEs' performance in Nigeria from a business strategy perspective.,The hypotheses of the study were tested using personally administered survey questionnaires; the study obtained 486 valid questionnaires, which were evaluated using SmartPLS algorithm and bootstrapping functions.,The research findings were established using SmartPLS algorithm and bootstrapping functions. According to the results, the research constructs have a satisfactory convergent and discriminant validity. Equally, the overall model has a very high predictive relevance. The study established a strong positive influence of strategic flexibility on the SMEs’ performance. In addition, the study also established the moderating influence of sustainability strategy on the constructs.,The research is explorative and designed to yield results and to be generalizable. Future research is thus encouraged to confirm or contradict the results of this study in a different context.,The research findings may be beneficial to policymakers and academics. It can particularly be useful in understanding strategic flexibility, its influence on the performance of SMEs and whether it can fit between the sustainability and strategic direction of a business enterprise.,This study fulfils an identified need to study strategic flexibility and its influence on the performance of SMEs using a dynamic perspective specifically in the context of emerging economies such as Nigeria.

Abstract: Dynamic capabilities (DCs) help media firms adapt to rapidly changing environments. The purpose of this study is to provide a comprehensive literature review of studies of DCs in strategic management research with a view to understanding its implications for the management of media organizations. Essentially, it fertilizes on the idea that the concept of DC is useful and vital for answering various critical questions regarding the challenges that media organizations are currently facing.,This study builds on a systematic literature reviewing design as the research methodology. It aims to identify, critically evaluate, and integrate factors, dimensions, and findings on studies of DCs in strategic management research and builds knowledge transfers to the field of strategic management research in the media industry.,The study shows that the DC framework helps media firms effectively respond to changing environments. The conceptual DC framework has implications for media strategy practice. Results indicate a considerable growth in the number of papers published related to the DCs in media organizations from 2003 to 2018.,The study qualifies the relevance and validity of the DC framework in strategic management research for the field of strategic media management. It explores a research agenda in this domain by precisely explaining the significant trends in the theory of DC to shape managerial strategies in the media industry.

Abstract: The purpose of this empirical paper is to operationalize the Doz and Kosonen (2010) model of strategic agility, consisting of three dimensions and 15 subfactors and to test its relationship with firm performance under multiple contingencies.,A CEO-level survey is conducted to collect a sample of 73 firms from three industries in the US state of Florida. Factor analysis and convergence with similar criterion are used to validate the strategic agility construct. Multiple regression is used to test hypothesized relationships.,The findings support construct validity of Doz and Kosonen's model. Moreover, firm age and environmental turbulence are found to be important contingency factors. Environmental turbulence is found to moderate the relationship between firm age and strategic agility. Firm age and environmental turbulence are found to jointly moderate the relationship between strategic agility and firm performance.,It is evident that firms may benefit from strategic agility depending on their age and environment. The results encourage future longitudinal research addressing causality.,The paper contributes to research by validating a more comprehensive model of strategic agility and identifying contingency factors that help to explain prior mixed results on the relationship between strategic agility and performance.

Abstract: A core premise of the paper is that participative, democratic organizational forms have a direct effect on openness. A key proposition is that organizational forms that promote inclusion, transparency and shared decision-making more broadly as part of their structure and culture would enhance greater openness. However, democratic forms are not a panacea when it comes to openness, there are inherent paradoxes, leading to inevitable tradeoffs that democratic organizations must manage.,The theoretical framework in the study explores the interaction between open strategy making and organizational democracy. This paper reviews the literature on open strategy and organizational democracy and presents propositions linking openness and elements of democratic organizations.,Open strategy requires a level of inclusion and transparency not typically associated with hierarchical organizations. This paper proposed that an organizational context where there are institutionalized processes that promote both transparency and inclusiveness, shared decision-making and a supportive organizational culture would promote openness. At the same time, these organizations need to manage key paradoxes associated with organizational democracy to benefit from its positive effect on openness. The idea is not that hierarchies cannot be open; they may simply need to be more creative and work harder at providing the scaffolding for participation.,This is a conceptual paper and we cannot make any claims of causality. It is also possible to refine the framework by adding or eliminating some of the conceptual variables.,Opening up the strategy process to non-traditional stakeholders can improve the strategy formation process. Non-traditional stakeholders can bring new insight, and be motivated and prepared for strategy implementation when they are part of the strategy formation process. Organizations need to focus on creating a climate that supports openness by emphasizing structural forms that promote openness. Sharing decision-making, profits and creating a democratic culture are important for successful openness. In addition, organizations need to manage the tradeoffs that arise as they link organizational democracy to openness.,This paper discusses the link between open strategy and organizational democracy. The research sheds light on how organizational forms, specifically structure affects openness, as well as the limits to structure and openness.

Abstract: The purpose of this study is to examine the existing literature and evaluate the theories, characteristics, context and methods of alliance termination research published from 1992 to 2019. This study also aims to identify the gaps in the literature and recognize directions for future research focusing on alliance termination research.,The main research methods followed in this study are bibliometric review, citation analysis, co-citation analysis and cluster analysis.,The main findings of this study are the most cited articles, most productive journals and most productive countries. The results show that a total of 100 research articles were published between 1992 and 2019. The maximum number of publications were observed during 2011–2019. The article “Knowledge, bargaining power, and the instability of international joint ventures” (Inkpen and Beamish, 1997) was the most cited article and the “Academy of Management Review” was the most prominent journal, with 847 citations. The USA, France, the UK, Singapore and Canada are the most productive countries. The study also includes the analysis of the network of co-citation of references and co-occurrence of keywords in the context of alliance termination research.,To the best of authors’ knowledge, this study seems to be the first to perform bibliometric review and analysis in the area of alliance termination research. Therefore, it can help academicians and practitioners to identify the research trends and gaps in the alliance termination literature on which future research can be performed. Overall, this research paper leads to a better understanding of the alliance termination research and offers new insights into strategic management studies.

Abstract: This research aims to examine the moderating role of CEO power on the relationship between retrenchment strategy and firm performance by framing the relationship under an agency theory, and power circulation theory.,This study focuses on a sample of 319 non-financial public listed companies in Malaysia from the year 2011–2016 and estimates the model under two-step GMM panel regression to eliminate the endogeneity issue.,The results show that the retrenchment strategy increased firm performance. Meanwhile, greater CEO power changes that retrenchment effect into increased performance. This study also indicates the CEO power strengthens the relationship between firm performance and retrenchment. However, CEO power does not have any effect on the performance of low retrenchment, and the performance of big firm size.,The findings show that the higher CEO power cause higher firm performance and higher retrenchment. This research suggests that CEO power can make retrenchment strategy works and the decision made can affect the firm performance significantly.,This study examines the effect of CEO power on the performance of retrenchment strategy implementation by contesting agency theory, power circulation theory, and resource-based view theory within the emerging country context.

Abstract: Given that an industrial cluster contains a high concentration of numerous stakeholders, a firm in an industrial cluster often ends up forming relationships with many of the stakeholders. The research questions are as follows: Does stakeholder-based management always lead to greater value creation? What are the moderators in this association? This paper proposes that although relationships with stakeholders can act as a “catalyst” for value-creation, they can also act as a “retardant.” A combination of (1) the strategic nature of the relationships and (2) the policy environment determines whether the relationships with stakeholders act as catalysts or retardants.,Using relationship-focused theory, a conceptual framework that adopts a relational view of stakeholder theory is developed. Given the high concentration of stakeholders in industrial clusters, the conceptual framework uses stakeholders in industrial clusters as a setting. A firm can form relationships with a variety of stakeholders in an industrial cluster. The strategic nature of a relationship with a stakeholder is assessed in terms of variations in strategic intent and intellectual spillover.,The key argument is the following: whether a relationship with a stakeholder becomes a catalyst or a retardant for value creation is contingent on the fit between the strategic nature of the relationship and the policy environment. For instance, in a probusiness policy environment, relying on relationships with stakeholders that maximize intellectual spillover can act as a catalyst for value creation. In contrast, in an antibusiness environment, not having to rely on intellectual spillover is a safer option.,Whereas the literature implicitly assumes that stakeholder theory has relational essence, the conceptual framework developed in this paper adopts a relational view of stakeholder theory in a very explicit way. This paper applies relationship-focused theory by making explicit the different forms of stakeholder relationships. Such an explicitly relational approach in theorizing can help in more in-depth research on the link between stakeholder relationships and value creation. The conceptual framework will allow future research to analyze value creation in an industrial cluster, especially in terms of how stakeholder relationships can act as either catalysts or retardants.

Abstract: The authors evaluate the evolution of the intellectual structure of strategic management (SM) by employing a document co-citation analysis through a network analysis for academic citations in articles published in the Strategic Management Journal (SMJ).,The authors employed the co-citation analysis through the social network analysis.,The authors outlined the evolution of the academic foundations of the structure and emphasized several domains. The economic foundation of SM research with macro and micro perspectives has generated a solid knowledge stock in the literature. Industrial organization (IO) psychology has also been another dominant foundation. Its robust development and extension in the literature have focused on cognitive issues in actors' behaviors as a behavioral foundation of SM. Methodological issues in SM research have become dominant between 2004 and 2011, but their influence has been inconsistent. The authors concluded by recommending future directions to increase maturity in the SM research domain.,This is the first paper to elucidate the intellectual structure of SM by adopting the co-citation analysis through the social network analysis.

Abstract: This study aims to identify the main reasons for forming a cooperation agreement in the context of small and medium-sized enterprises (SMEs) and understand the role of reputation in this business process.,To achieve these objectives, a qualitative research approach was adopted, specifically the case study method. The context of analysis studied here was formed of five SMEs (cases) located in an inland region of Portugal. Data-collecting instruments were individual interviews and documentary analysis, and the data treatment technique was content analysis.,From the results obtained, it is concluded that SMEs have different reasons for entering a cooperation agreement and that the criterion of reputation, in the partner selection process, was quite frequently mentioned. In addition, the study found trust to be another important criterion when choosing a partner. This means that besides the resources a partner may possess, the most important aspect is that there should be mutual trust.,This study seeks to help SME managers to characterise and understand the phenomenon of cooperation and show the main criteria to consider when choosing their partner(s).,This study is innovative because it will help to characterise and understand business cooperation in SMEs and contribute to choosing a suitable partner, so that SMEs can achieve good performance, major market expansion and improve relations with their partners, in an increasingly competitive environment.

Abstract: While a radical innovation can be embedded in new products or new processes, most studies to date have concentrated on barriers to radical product innovations, with little insights available about the challenges for implementation of radical process innovations.,We theorize a set of barriers to radical process innovation based on a critical case study of an oil company. Our study employs data from 14 semi-structured interviews, one complete participant-observer in the process and access to all corporate documentation. The organization being studied was eventually unable to bring the new process technology to commercialization despite the technology having both technical feasibility and substantive cost savings potential.,We identify five groups of challenges that the company faced: (1) challenges in resource mobilization, (2) challenges in piloting strategy, (3) innovation leadership tensions, (4) tensions in managing shareholders' expectations and (5) product-process innovation tension (i.e. a unique situation when a company implementing a radical process innovation and simultaneously pursues the path to commercialize it as a product innovation).,Sustainable development is one of the major challenges in our era. Process innovations are crucial for achieving sustainability without changing the final product. By providing a list of challenges that executives face in the process of commercializing a radical process innovation, we can help them to achieve sustainability more effectively.,The paper responds to the call to increase our understanding of radical process innovations by utilizing a unique ethnographic research methodology of active participant-observation complemented by independent third-party face-to-face interviews.

Abstract: The purpose of this research is to determine the firms, innovations in the cases that have successfully overcome a decline and also to assess whether these innovations can be considered as business model innovations.,In this paper, the data was collected from analyzing four case studies in different businesses through semistructured interviews with relevant internal experts.,The findings revealed that the innovation that had been taken was related to the constructs of their existing business model. Therefore, the business model innovation functions as a critical practice of turnaround strategy in the decline period.,The article provides the most important business model constructs in each business through which the related firm could overcome a decline in their life cycle. Since this paper has been studied in different unrelated businesses and due to the qualitative research nature, generalization cannot be ensured.,From the practical and managerial point of view, this article is useful as it defines the most important business model components in each industry and based on it, the similar companies can do innovation in their business model. It also helps the related companies in the same industry to develop and design their specific turnaround strategies.,So far, rare research has seen business model innovation as a turnaround strategy, and it can be claimed that till now, no research has been conducted in Iran in this context. Therefore, the business practitioners can employ innovation on the components of their existing business model to overcome a decline.

Abstract: The purpose of this paper is to develop and empirically test a conceptualization of competitive aggressiveness (CA), a dimension of entrepreneurial orientation.,Structural equation modeling and hierarchical regression are employed on responses from 182 banks in the southwestern US Performance data on the banks are drawn from the US Federal Deposit Insurance Corporation's (FDIC's) Call reports.,The results indicate awareness, motivation and capability are antecedents of CA, which itself is positively related to increased market share and, in more dense markets, profitability.,Aggressive firms exhibit certain routines that can lead to competitive actions, which assists performance in some contexts. Managers who wish to increase (or decrease) their firms' overall competitive posture can encourage (or discourage) employees from performing competitive routines such as monitoring their rivals or talking about their rivals' strategies.,By developing CA' conceptualization, the study advances the understanding of the antecedents of competitive behavior and makes it easier to study competition in smaller firms.

Abstract: The purpose of this paper is to investigate whether employees' understanding of their organization's strategic objectives could be used by business organizations to develop a desired type of organizational culture that will improve business performance,Structural equation modeling (SEM) was conducted on the data collected in 2018 from professionals working in the healthcare industry in the USA,SEM revealed the positive effect of employee understanding of their organization's strategic objectives on the development of a serving culture, and the mediating effect of serving culture on the relationship between employee understanding of strategic objectives and performance,This study emphasizes that having a well-defined mission and strategic goals may not be sufficient Business organizations must also ensure that all employees clearly understand the meaning of such objectives Employee understanding can become instrumental, as it could allow business organizations to develop a desired type of organizational culture that will support the implementation of the firm's strategic objectives,The study is a valuable addition to past research First, it advances the literature on strategy by exploring the critical role of employee understanding of their organization's strategic objectives in the context of culture and performance Thus, it allows scholars to better explain how business organizations could more effectively utilize their process of strategic planning In the domain of organizational culture, the paper contributes by identifying a new antecedent of serving culture Furthermore, the paper also contributes to the literature on service management by identifying a mechanism that service organizations could use to increase their performance

Abstract: To unravel three strategy-related concepts, frequently confused as one, by introducing the new concept of nonstrategy and proposing a novel threefold classification of strategy, nonstrategy and no strategy.,Building on some key insightful definitions of strategy, the paper infers five essential attributes of strategy. These, in turn, are used to introduce the new concept and classification.,The paper makes clear distinction between the different concepts of strategy, nonstrategy and no strategy that are usually confused in the literature.,The paper calls for a reexamination of what strategy is, how it can be better operationalized, how it should be distinguished from nonstrategy and no strategy and how strategy evolution and drift can be tracked.,The paper clarifies what constitutes strategy, gives practitioners directions on how to strategize and warns against the potential of malpractice that produces nonstrategy.,The introduction of the new concept of nonstrategy and the development of a new classification that distinguishes three concepts that are usually confused as one.

Abstract: Extant literature on strategic environment analysis confirm broad evidence of studies on competences in the context of private sector organizations. Nevertheless, there is a growing interest and evidence of strategic competence in public sector organizations seeking to deliver improved performance. This paper attempts to determine the strategic competences of a National Health Service (NHS) unit for better organizational performance.,Based on the qualitative analysis of empirical evidence collected in a UK based NHS case study organization, we arrive at a strategic competence performance framework for the health unit using research carried out through interviews with employees and partner organization members.,By examining a UK-based qualitative case study, the proposed framework puts forward four strategic competence pillars vital for delivering organizational performance and effectively managing the environment of NHS unit's operations. The four strategic competences that are identified to foster NHS unit's performance are strategic leadership, staff engagement, knowledge transfer and partnership working.,The study examines the environment in which a UK based NHS health unit operates and identify the different strategic competences to deliver organizational performance.

Abstract: According to behavioral research, aspirations influence a firm's search – exploitive and explorative – for solutions that satisfy a firm's goals. Yet, such goal seeking behavior is adaptive to a firm's past experiences and not to a manager's expectations of its firm's future. A manager's expectations are often explained in terms of their confidence in future events. The purpose of this study is to address the following research question: how does a manager's confidence influence its expectations of a firm's future performance and goals; and how do these future expectations influence a firm's exploitive/explorative search?,In drawing on cognition and legitimacy research, a conceptual model was developed to explain the antecedents and outcomes of a firm's “forward-looking” aspirations. The antecedents to a firm's forward-looking aspirations are attributed to a manager's overconfidence – anchoring, confirmation and availability – biases. In using strategic legitimacy explanations, these biases introduce distinct types of forward-looking (exploitive/explorative) search that legitimize/de-legitimize a manager's forward-looking aspirations.,A key finding of this study is that it introduces a strategic decision-making process in which a firm's exploitive/ explorative search is adaptive toward its forward-looking aspirations.,This forward-looking strategic decision-making process offers research implications to understand how a firm's future goals and expectations can offer new understandings of their past experiences and traditions and explains how a manager's overconfidence biases can influence the assessment of a firm's social aspirational groups.,In addition, this study also offers practical implications in which illustrative examples are used to explain this study's forward-looking strategic decision-making process.,A distinct contribution of this study is that it introduces a forward-looking orientation that has not been previously examined the backward focus of behavioral research.

Abstract: The paper seeks to understand the implications of partner opportunism for project relationships.,Based on the theoretical literature, the paper presents a conceptual model considering the perspective of the organization impacted by partner opportunism.,The model proposes that partner opportunism lowers willingness to engage by creating perception of loss. The undesirable impact of opportunism on perceived loss is less if the partner has made high relation-specific investments. Also, the negative impact of perceived loss on willingness to engage is less if the partner is difficult to substitute.,The model can be tested in the context of information technology (IT) relationships because of scope for opportunism in IT project relationships. Data can be collected through experimental vignettes.,The model contributes by investigating novel aspects of governance, behavioral consequences of opportunism and relation-specific investments in project relationships. The paper suggests that organizations can protect themselves against the ill effects of partner opportunism by enabling their stakeholders to invest substantial time and effort in the relationship and fortify relational quality and bonding.

Abstract: This paper provides evidence based quantification of both “actual” disruption of industries as well as a measure of disruption “hype”. The data cover a seven-year period from 2012 to 2018 across 12 industries. The authors’ complemented the research with a survey of 2000 business executives. Whereas there has been some measures of disruption in the past, no research to the authors’ knowledge has been conducted that measure both actual disruption and disruption hype.,The current fascination with disruption hides an awkward truth, we assume it is happening, but do we really know for sure? Disruption is rarely defined and almost never measured. Equally, the influence of the hype around disruption is hard to gauge. The authors do not know to what extent hype is driving management action. This is worrisome as the disruption “noise level” can lead to unhealthy collective thinking and bad business decision-making. Some rigour is required. To craft winning strategies, executives should take a more evidence-based approach for managing disruption.,The authors’ failed to find evidence of any correlation between the hype around an industry disruption and actual disruption within that industry. So the important conclusion for executives is “do not believe the hype”. We found some surprising differences by industry between actual disruption and the hype by industry.,Disruption is one of the most talked about subject in the field of strategy, yet there is little quantification. With this research, the authors’ aim is to advance the fact-based understanding of disruption. Disruption hype is never measured but has a strong influence on executives. The authors have quantified hype using online, search, social media and survey sources. Much more is needed to be able to measure hype more accurately.,The authors’ recommend a set of practical guidelines for executives to support fact-based strategy formulation: analysis of actual disruption, scenario planning and strategic responses.,The “noise” around industry disruption is so high that it is assumed to happen. Much of what is written is quasi-fake news. The authors need to rebalance the debate with fact-based analysis.,To authors’ knowledge, there has never been any fact-based analysis of both actual and hype disruption levels.

Abstract: Joint ventures (JVs) are known to create value for their parent firms, in part due to the mutually beneficial sharing of information that occurs at the JV level Market orientation (MO) is a well-documented strategic orientation that has received little attention in the JV literature, despite considerable research suggesting that MO has a positive effect on performance This study posits that the MO skills contributed to a new JV by parent firms are likely to play a central role in a shareholder's assessment of the potential for success of a newly announced JV, thereby triggering changes in market value for parent firms,Computer-Assisted-Text-Analysis (CATA) is used to calculate MO heterogeneity from annual reports, and event-study methodology is used to assess parent firm performance The authors rely on a US sample of 82 public JV parents involved in 41 new equally-weighted JV formation announcements,The authors find that heterogeneity on MO's behavioral components (customer orientation, competitor orientation, and coordination) is negatively related to parent performance, while heterogeneity on MO's profitability component is positively related to parent performance However, the effect of MO's long-term focus heterogeneity on parent performance was not supported,The results suggest that the benefits of information sharing in partnerships may be of a nuanced nature when it comes to MO Although heterogeneity in profitability inclination created value for parent firms announcing a new JV; heterogeneity in customer, competitor and coordination market orientations did not appear to be rewarded by shareholders

Abstract: Adopting aspects of the resource-based perspective and interorganizational relational dynamics, this paper examines the notion of resource transformation in the reconstitution of broken interorganizational relationships.,Following a qualitative approach, the research involved four in-depth case studies of buyer–supplier relationships among 12 Scandinavian manufacturing firms.,The results suggest that reconstituting broken interorganizational relationships, whether overlooked or underutilized, can pose important consequences for resource transformations. To adapt in dynamic environments, firms use resources in new combinations, and various relationship-specific resources may be difficult, if not impossible, to transform independent of the reconstitution process. Such resource transformations can occur when competencies in reconstituting interorganizational relationships are combined to synthesize novel resources or recombined with other resources. Four identified types of resource transformations in reconstitution processes – in production facilities, products, human know-how and coordination of interorganizational collaboration – can occur in each firm and/or in the interorganizational relationship.,Although the explorative multiple-case study approach afforded novel insights, the findings have no representative or generalizable implications in any positivist sense and thus warrant careful interpretation. Nevertheless, they make important contributions to the literature and illuminate promising avenues for future research, which should involve additional data collection and quantitative studies.,As firms reconstitute broken interorganizational relationships, the transformation of their resources can provide new, expected resources capable of generating substantial benefits.,This paper fills an identified gap in research regarding how reconstituting broken interorganizational relationships influence the transformation of resources. The paper provides new conceptual and empirical insights as well as makes several contributions to the literature on the topic.

Abstract: This conceptual paper uses the resource-based theory (RBT) of the firm to argue that for competitors to improve their innovation through a cooperative relationship – coopetitive relationship – they need to work on building a stable relationship with each other by investing a special type of resources, namely locked-in resources.,The authors draw on RBT criteria to argue that when the antecedent – the locked-in resources – and the mediator – the relationship stability – are valuable, rare, inimitable and organized (VRIO), they will help the parties involved achieve sustained competitive advantage from the coopetitive relationship.,This paper argues that locked-in resources lead to higher coopetitive relationship stability by reducing the impact of opportunistic behavior from any of the partners. More stable relationship leads to more innovations especially radical innovations. In addition, the nature of the industry plays a moderating role. The industry's competitive intensity affects the relationship between locked-in resources and relationship stability. The industry's age affects the relationship between stability and innovation quantity and type.,This conceptual paper anchors its arguments within the RBT related to the firm's strategic resources (VRIO) characteristics and applies the same arguments (VRIO) beyond the firm level to the coopetitive relationship level. The model invites researchers and practitioners to consider two new constructs namely locked-in resources and coopetitive relationship stability in order to build successful coopetitive relationships.,This paper contributes considerably and in a practical manner to managers as it draws their attention to the importance of investing a special type of resources, namely locked-in resources and ensuring the relationship stability with their coopetitors to achieve the desired outcome. It also draws the managers' attention to the impact industry's competitive intensity and industry's age have on the quality of the relationship and on the innovation outcomes.,A distinct contribution of this conceptual paper is the introduction of two new constructs: locked-in resources and coopetitive relationship stability. Locked-in resources are valuable within the coopetitive relationship and they improve the second construct or relationship stability. Relationship stability is different from relationship strength as it leads to more trust between partners over longer periods of time.

Abstract: This paper aims to review and synthesize notable literature on high-performance organization (HPO), from which future research directions can be recommended.,This narrative literature review analyzes major HPO literature in popular books and peer-reviewed articles published in English in the period between 1982 and 2019.,The review revealed that HPO literature has evolved multiple times, illustrating the complex and multifaceted nature of this phenomenon. In particular, literature on HPO has evolved in four phases: (1) definitions and conceptual development of HPO; (2) exploration of approaches to achieve HPO; (3) empirical validation of HPO framework; and (4) complicated research models and designs on HPO. Several research gaps were identified, which definitely hold varying research value and can be seen as potential opportunities for future research.,The focus of this review is on HPO literature published in English rather than cover all existing literature.,It is among the first studies to review the HPO literature and its evolution. This review also recommends constructive areas for future research on HPO to focus on.

Abstract: This paper examined the relationship between TMT demographic properties and firm performance using diversity and level variables and measuring differing constructs of firm performance representing divergent strategies.,Structural equation modelling was used to test the relationships between TMT demographic properties and firm performance measured as return on net operating assets (RNOA), and its disaggregates profit margin (PM) and asset turnover (ATO). Data were from 89 Finnish firms during the years 2008–2011, resulting in 320 observations.,TMT team tenure had associations with RNOA through both PM and ATO while TMT age, age diversity, firm tenure, firm tenure diversity and team tenure diversity showed paths through ATO. TMT firm tenure diversity showed effects in opposing directions through PM and ATO.,The results help to understand and apply the separate effects of age, firm tenure and team tenure on TMT and firm performance. These results also provide explanations on how these TMT properties affect firm performance in diverse types of firms pursuing different strategies.,The results suggest that both diversity and level in a measured TMT demographic property are linked with firm performance, and the effect can be in differing directions. These links go through differing paths when using disaggregated operational firm performance measures. Also, diversity in top management is not always beneficial since it can cause separation or conflict impairing performance.

Abstract: For nearly three decades, numerous scholars have searched for a robust relationship between firm performance and organizational ambidexterity—so far with questionable results. The aim of this short essay is thus to critically examine the performance of applied performance measurements.,After discussing methodological issues and revealing a conceptually neglected “level” distinction in organizational ambidexterity studies, we contribute to conceptual clarity as to whether exploration and exploitation ought to be conceived as continuous or orthogonal.,First, even if the dichotomy of exploration and exploitation is orthogonally conceptualized, at least one trade-off, either on the level of the explanans or the level of the explanandum, can be bypassed but cannot conceptually be denied. Second, we conclude that explaining overall firm performance with the relation of just two variables (exploration and exploitation)—referring to the inherently conflicting title of this paper, “Reduced to the Max”—is a hazardous endeavor.,Based on these insights, future research may benefit from studying organizational ambidexterity and firm performance more qualitatively and paying more attention to the declared level distinction.,The paper reveals a crucial neglect of level and provides an answer to one of the core questions of organizational ambidexterity research: that of continuity vs orthogonality.

Abstract: Corporate spin-offs have become more popular as a restructuring technique in recent decades. The market performance of these spun-off subsidiaries has been considered critical, as positive market signals are vital to the success of these newly independent firms. Drawing on both the stewardship and resource dependence theories, this study aims to examine how two critical governance characteristics (namely, CEO duality and board size) affect the change in the market valuation of spun-off subsidiaries. This study proposes that both board size and CEO duality of spun-off subsidiaries should positively influence the change in market valuation.,This study used the SDC Platinum database to identify completed corporate US spin-offs between 2000 and 2014. To ensure consistency across spin-off events, this study included only those in which 100 percent of outstanding shares of spun-off subsidiaries were distributed. The study confirmed the SDC Platinum listings using online resources such as The Wall Street Journal and Lexis/Nexis. The study used weighted least square (WLS) regression to test all the proposed models.,This empirical analysis of 134 US-based spin-offs supported both main hypotheses. Furthermore, the analysis also finds that firm size has significant moderating effects on the link between governance structure and market performance.,These findings contribute to the governance literature on corporate spin-offs by advancing our understanding of the role of CEO and board characteristics in improving these subsidiaries' market valuation, as well as the moderating effect of the firm size.

Abstract: It is increasingly recognised that managers play a central role in organisational ambidexterity. While some scholars have recently begun to explain the nature and antecedents of ambidextrous behaviour among managers, much remains to be learned about the micro-foundations of this behaviour. Adopting a people–situation interaction approach, this paper investigates the antecedents to managerial ambidexterity from both situational and individual difference considerations.,This study adopts a quantitative approach using a combination of survey and archival data from 305 managers.,The results indicate that learning goal orientation is positively related with managerial ambidexterity, whereas there is no significant relationship between functional experience breadth and managerial ambidexterity. In testing moderation effects, discretionary slack is found to positively moderate the association between learning goal orientation and ambidexterity and between functional experiences and ambidexterity.,This paper provides suggestions on employees selection and training, along with organisational support, in enacting managerial ambidexterity.,Guided by individual difference theory, this paper adds value to one’s understanding of the antecedents to managerial ambidexterity. It contributes to the ambidexterity literature from the micro-foundation perspective.

Abstract: The study explored the mediating role of potential and realized absorptive capacities in the relationship between entrepreneurial orientation and radical innovation performance among manufacturing small and medium-sized enterprises (SMEs).,Empirical analysis was based on 357 manufacturing SMEs in Ghana. Various validity and reliability checks were conducted before the presentation of the actual analysis, which was conducted using ordinary least squares approach, run using SPSS (v. 20).,Findings revealed that potential and realized absorptive capacities significantly mediated the relationship between entrepreneurial orientation and radical innovation performance among manufacturing SMEs. Further, it was identified that ambidexterity in absorptive capacity also had a greater effect on radical innovation performance among manufacturing SMEs.,Since the data used were cross-sectional, the relationships measured represent only a snapshot of time. Longitudinal studies could therefore be adopted in the future to complement the cross-sectional conducted.,While managers of manufacturing SMEs seek to achieve higher radical innovation performance through entrepreneurial orientation, it should also be noted that both potential and realized absorptive capacities have a significant role to play in this relationship. Managers must therefore also seek to invest time to build both potential and realized absorptive capacities, as they define greater innovation success.,Some past studies have considered absorptive capacity as composite variable, therefore added both potential and realized absorptive capacities to form a single variable. Others also presented potential and realized absorptive capacities individually. This current study extends the body of knowledge by presenting an ambidexterity position between potential and realized absorptive capacities.