COVID-19 uncertainties, dynamic capabilities and the strategic response of multinational enterprises

IF 3.2 Q2 BUSINESS Review of International Business and Strategy Pub Date : 2023-01-10 DOI:10.1108/ribs-12-2021-0167

A. D. Olarewaju, O. F. Ajeyalemi

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引用次数: 2

Abstract

Purpose This study aims to examine uncertainties created due to the pandemic that multinational enterprises (MNEs) had to confront. It also assesses MNEs’ response to these uncertainties through their dynamic capabilities (DCs). It relied on theories of DCs and organizational learning. Design/methodology/approach MNEs listed in Fortune Global 500 served as the population of the study, while data were retrieved from their respective corporate websites. The final phase generated 704 documents systematically analyzed for dialogic communication. Content analysis was used to make inferences. Findings This study found six distinct uncertainties created by COVID-19. Furthermore, it was found that irrespective of industry-type or headquarters location, organizations could transform their internal processes and remain resilient by strategically sensing and responding to exogenous shocks through DCs. Research limitations/implications The use of dialogic communication through website analysis could be prone to misrepresentations and data exaggeration from organizations. However, this limitation was mitigated by focusing on Fortune Global 500 MNEs, which are reputable global corporations. Practical implications Dealing with and coping with the uncertainties created by COVID-19 presents MNEs with valuable capabilities and experience in handling future global viral diseases when they inevitably occur. Originality/value Unlike previous shocks, COVID-19 had an immeasurable global disruption to MNEs’ business operations. Evidence was found that MNEs could remain resilient by using DCs in response to uncertainties amid an exogenous shock. It makes a theoretical contribution by extending what was previously known about DCs, uncertainties and exogenous shocks.

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新冠肺炎的不确定性、动态能力与跨国企业的战略应对

本研究旨在探讨跨国企业(MNEs)不得不面对的大流行所造成的不确定性。它还通过跨国公司的动态能力(DCs)来评估它们对这些不确定性的反应。它依赖于dc理论和组织学习。设计/方法/方法《财富》全球500强的跨国公司作为研究对象，数据从它们各自的公司网站上检索。最后阶段生成704份文件，系统地分析用于对话交流。采用内容分析进行推断。这项研究发现了COVID-19造成的六个不同的不确定性。此外，研究发现，无论行业类型或总部位置如何，组织都可以通过DCs战略性地感知和应对外部冲击，从而改变其内部流程并保持弹性。研究限制/启示通过网站分析使用对话交流可能容易引起组织的错误陈述和数据夸大。然而，通过关注世界500强跨国公司，这一限制得到了缓解。处理和应对COVID-19造成的不确定性为跨国公司提供了宝贵的能力和经验，可以在未来不可避免地发生全球性病毒性疾病时应对这些疾病。与以往的冲击不同，2019冠状病毒病对跨国公司的全球业务运营造成了无法估量的破坏。有证据表明，跨国公司可以通过使用DCs来应对外源冲击中的不确定性，从而保持弹性。它通过扩展先前对DCs、不确定性和外生冲击的了解，做出了理论贡献。

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来源期刊

Review of International Business and Strategy BUSINESS-

CiteScore

6.90

自引率

25.80%

发文量

期刊介绍： Review of International Business and Strategy is keen to present contemporary and innovative research that proposes new perspectives or challenges existing theories, and that advances the understanding of issues related to international business and global strategy. Themes covered by the journal include (but are not limited to): Internationalization of firms and international entrepreneurship Effects of international environment (political, social, economic and institutional) on international business activities and firm strategies Knowledge transfer strategies and innovation in MNEs Location strategies in international business activities.