The Impact of Organizational Resources on Organizational Agility in Hospitality Industry: A Dynamic Capabilities Approach

Abstract

The present study investigates the relationship between organizational resources (financial, social, and technological capital) and dynamic capabilities development in crises periods. Through quantitative research, a theoretical framework that is based on resource-based view and dynamic capabilities view is validated for the first time in the hospitality industry. In practice, it is explored whether the hospitality firms—based on their own resources—can develop the dynamic capability of organizational agility that enables them to cope with turbulent and unstable environments. The empirical research was conducted with the sample of 502 hospitality firms in Greece during the COVID-19 era. The findings confirm that financial and technological capital have a positive influence on the development of agility-related dynamic capabilities, and specifically market capitalizing agility and operational adjustment agility, for the hospitality industry during turbulent periods. Instead, social capital has a negative and no effect respectively on these two dynamic capabilities.