S. Lehenchuk, Yuliіa Serpeninova, T. Zavalii, Z. Juhászová, Alena Kordošová
Background: To improve operational and financial policies regarding the allocation of existing and obtaining new resources, strategic decision-making, managers use indicators of financial performance. Purpose: The aim of this study is to analyze the impact of financial performance on the profitability of advertising agencies in Slovakia. Study design/methodology/approach: A sample of 88 Slovak advertising agencies was analyzed by means of regression modeling the data based on financial statements of the financial year 2020. The hypothesis that the indicators of financial performance of advertising agencies in Slovakia have an impact on their profitability is partly confirmed by the results of this research. The first proposed model was adjusted by excluding the independent variable Current Ratio, which allowed us to build the second model to explain 95.21% of the Return on Assets deviation due to the variation of the selected independent variables. Findings/conclusions: By selecting Return on Assets as a dependent variable that characterizes the financial performance of advertising agencies, research has shown that Total Assets Turnover and Firm Size have significant positive influence on it, but Debt to Equity Ratio has a negative influence. This empirically testifies the expediency of financing the activities of advertising agencies from debt resources, scaling the scope of their activities and increasing sales using innovative approaches for getting more customers. Limitations/future research: The study limitations relate to completeness of information and availability of open access to the necessary data in the published financial statements of Slovak advertising agencies. The results of this research could be applicable and beneficial for providers of capital for advertising agencies. It could be also used as a tool to determine key factors of profitability and to adjust companies' financial and operational policies.
{"title":"The impact of financial performance on the profitability of advertising agencies in the Slovak Republic","authors":"S. Lehenchuk, Yuliіa Serpeninova, T. Zavalii, Z. Juhászová, Alena Kordošová","doi":"10.5937/straman2200025l","DOIUrl":"https://doi.org/10.5937/straman2200025l","url":null,"abstract":"Background: To improve operational and financial policies regarding the allocation of existing and obtaining new resources, strategic decision-making, managers use indicators of financial performance. Purpose: The aim of this study is to analyze the impact of financial performance on the profitability of advertising agencies in Slovakia. Study design/methodology/approach: A sample of 88 Slovak advertising agencies was analyzed by means of regression modeling the data based on financial statements of the financial year 2020. The hypothesis that the indicators of financial performance of advertising agencies in Slovakia have an impact on their profitability is partly confirmed by the results of this research. The first proposed model was adjusted by excluding the independent variable Current Ratio, which allowed us to build the second model to explain 95.21% of the Return on Assets deviation due to the variation of the selected independent variables. Findings/conclusions: By selecting Return on Assets as a dependent variable that characterizes the financial performance of advertising agencies, research has shown that Total Assets Turnover and Firm Size have significant positive influence on it, but Debt to Equity Ratio has a negative influence. This empirically testifies the expediency of financing the activities of advertising agencies from debt resources, scaling the scope of their activities and increasing sales using innovative approaches for getting more customers. Limitations/future research: The study limitations relate to completeness of information and availability of open access to the necessary data in the published financial statements of Slovak advertising agencies. The results of this research could be applicable and beneficial for providers of capital for advertising agencies. It could be also used as a tool to determine key factors of profitability and to adjust companies' financial and operational policies.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"295 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90800796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Decision making on foreign direct investment (FDI) is a strategic decision for the country, the company, but also the individual, which is strategic. Where to invest, how and when, certainly depends on economic conditions and economic freedoms. Foreign direct investments represent a value of 357 million euros in 2019, representing a significant factor in the overall development of Bosnia and Herzegovina (BiH). Expectations of an increase in the level of foreign investment are also based on the level of economic freedoms. The research results show a significant impact and positive correlation of economic freedoms on strategic decisions on foreign direct investment in Bosnia and Herzegovina. The role and importance of the impact of economic freedoms on strategic decisions on foreign direct investment became especially important in the conditions of the COVID 19 coronavirus pandemic, when strategic decisions were coupled with even greater risks and sensitivity. The COVID-19 pandemic affected foreign direct investment in the world and expectations regarding the trend of foreign direct investment in BiH. According to preliminary data from the Central Bank of BiH for the first half of 2020, FDI is lower by 46.7% compared to the same period in 2019. Foreign direct investment in less developed countries such as BiH will be under additional pressure in 2020/2021, due to the impact of the COVID 19 pandemic. The decline in global foreign direct investment in 2020 and 2021 is estimated at 30-40% as a result of the pandemic. The results of the research cover the period from 1998 to 2020, and show the existence of a positive correlation between these variables. The analysis used an econometric model of multiple correlation analysis Pearson Correlation.
{"title":"Strategic decision making and influence of economic freedoms on foreign direct investment (FDI) in Bosnia and Herzegovina","authors":"D. Milovanović, Nenad Marković","doi":"10.5937/straman2200011m","DOIUrl":"https://doi.org/10.5937/straman2200011m","url":null,"abstract":"Decision making on foreign direct investment (FDI) is a strategic decision for the country, the company, but also the individual, which is strategic. Where to invest, how and when, certainly depends on economic conditions and economic freedoms. Foreign direct investments represent a value of 357 million euros in 2019, representing a significant factor in the overall development of Bosnia and Herzegovina (BiH). Expectations of an increase in the level of foreign investment are also based on the level of economic freedoms. The research results show a significant impact and positive correlation of economic freedoms on strategic decisions on foreign direct investment in Bosnia and Herzegovina. The role and importance of the impact of economic freedoms on strategic decisions on foreign direct investment became especially important in the conditions of the COVID 19 coronavirus pandemic, when strategic decisions were coupled with even greater risks and sensitivity. The COVID-19 pandemic affected foreign direct investment in the world and expectations regarding the trend of foreign direct investment in BiH. According to preliminary data from the Central Bank of BiH for the first half of 2020, FDI is lower by 46.7% compared to the same period in 2019. Foreign direct investment in less developed countries such as BiH will be under additional pressure in 2020/2021, due to the impact of the COVID 19 pandemic. The decline in global foreign direct investment in 2020 and 2021 is estimated at 30-40% as a result of the pandemic. The results of the research cover the period from 1998 to 2020, and show the existence of a positive correlation between these variables. The analysis used an econometric model of multiple correlation analysis Pearson Correlation.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"52 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82621197","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper discusses and analyses the importance of employees in the context of school management. The construct of organizational culture is observed using an interdisciplinary approach from the aspect of management, marketing, and educational sciences. The role of the employee as a key arbiter of organizational culture and promoter of the organization itself is discussed. The levels of school culture, its specifics, and functions in the context of a non-profit organization are presented. The role of employees is analysed from two aspects, the creation of corporate identity and the aspect of strengthening employee beliefs, and self-image, and emphasizes its importance for creating the identity of the organization, organizational culture, and climate. The analysis of the literature raised questions about the importance of employees in creating an organizational culture, but also in creating a corporate image and identity. Different approaches to the function of organizational culture, levels of school culture and types of school climate, school identity, and the role of management are considered. The place of employee satisfaction, employee identity and the creation of organizational culture are critically observed, and suggestions are given on how to improve school management. The concluding part emphasizes that employees are the most important resource of any organization and that satisfied employees create an open and positive organizational climate, create the identity of the organization, and provide better service.
{"title":"The role of teacher and organizational culture in school management","authors":"Dinko Jukić","doi":"10.5937/straman2200009j","DOIUrl":"https://doi.org/10.5937/straman2200009j","url":null,"abstract":"The paper discusses and analyses the importance of employees in the context of school management. The construct of organizational culture is observed using an interdisciplinary approach from the aspect of management, marketing, and educational sciences. The role of the employee as a key arbiter of organizational culture and promoter of the organization itself is discussed. The levels of school culture, its specifics, and functions in the context of a non-profit organization are presented. The role of employees is analysed from two aspects, the creation of corporate identity and the aspect of strengthening employee beliefs, and self-image, and emphasizes its importance for creating the identity of the organization, organizational culture, and climate. The analysis of the literature raised questions about the importance of employees in creating an organizational culture, but also in creating a corporate image and identity. Different approaches to the function of organizational culture, levels of school culture and types of school climate, school identity, and the role of management are considered. The place of employee satisfaction, employee identity and the creation of organizational culture are critically observed, and suggestions are given on how to improve school management. The concluding part emphasizes that employees are the most important resource of any organization and that satisfied employees create an open and positive organizational climate, create the identity of the organization, and provide better service.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"30 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81957541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Background: Digital transformation is by itself a fragmented area, due to different perspectives encountered in the literature. The research problem addressed in this paper is a general lack of consent on the content of digital transformation and the lack of a comprehensive framework for implementing digital transformation initiatives. Purpose: The aim of this paper is to identify distinct key activities of digital transformation through a systematic literature review, and in doing so contribute to defining the scope of digital transformation and the structure of digital transformation as a process. Study design/methodology/approach: This research was conducted by means of a systematic literature review, with the aim to ascertain the general structure of the digital transformation process through identification of its key activities. Finding/conclusions: A total of 19 items were identified as activities of digital transformation, which were subsequently distributed among the 6 distinct stages of the digital transformation process, in an effort to advance the understanding of the notion and the scope of digital transformation through clarification of its content. Limitations/future research: The results of this research should be instrumental for the future research aimed towards developing generic, universal guidelines for companies seeking to embark on digital business transformation journeys.
{"title":"Key activities of digital business transformation process","authors":"Bogdan Ubiparipović, P. Matković, V. Pavlićević","doi":"10.5937/straman2200016u","DOIUrl":"https://doi.org/10.5937/straman2200016u","url":null,"abstract":"Background: Digital transformation is by itself a fragmented area, due to different perspectives encountered in the literature. The research problem addressed in this paper is a general lack of consent on the content of digital transformation and the lack of a comprehensive framework for implementing digital transformation initiatives. Purpose: The aim of this paper is to identify distinct key activities of digital transformation through a systematic literature review, and in doing so contribute to defining the scope of digital transformation and the structure of digital transformation as a process. Study design/methodology/approach: This research was conducted by means of a systematic literature review, with the aim to ascertain the general structure of the digital transformation process through identification of its key activities. Finding/conclusions: A total of 19 items were identified as activities of digital transformation, which were subsequently distributed among the 6 distinct stages of the digital transformation process, in an effort to advance the understanding of the notion and the scope of digital transformation through clarification of its content. Limitations/future research: The results of this research should be instrumental for the future research aimed towards developing generic, universal guidelines for companies seeking to embark on digital business transformation journeys.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"48 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76242712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Background: Many countries spend up to 1% of GDP on implementing employment policies and assisting unemployed citizens, so it is important to assess the effectiveness of spending these funds. One of the Russian federal projects focuses on increasing the level of service recipients' satisfaction. The target indicator is 90.0% of satisfied recipients by the end of 2024. Purpose: This study aims to analyze the state of employment policy implementation in Russia. Study design/methodology/approach: The information base of the study is data of two questionnaire surveys of registered unemployed conducted in 2020-2021. In 2020, 4,800 unemployed people were interviewed in order to assess their satisfaction with the services received at the employment center. In 2021, 1,000 people from this number were re-interviewed in order to assess usefulness of the provided services. The survey evaluated several parameters, which influence the recipient's satisfaction with provided state employment services. Descriptive statistics methods were used to analyze the data. Finding/conclusions: The results show that over the past 3 years, respondents have noted positive changes in the work of state employment centers-expanding opportunities to receive services via the Internet, reducing queues in employment centers, increasing the availability of information about services. Also, the respondents rate usefulness of the received services for future quite highly employment. At the same time, low speed of service delivery, a large list of necessary documents, and insufficient customer orientation of employment centers staff are still being zones for development and improvement. Limitations/future research: The limitations of the study include a small number of existing studies on this problem, as well as the sample size. In further research, it is advisable to increase the number of unemployed interviewed in order to obtain more accurate and objective assessments of satisfaction with the services provided in employment centers.
{"title":"State employment centers in Russia: Assessment by service recipients","authors":"O. Korzhova, T. Stuken, T. Lapina","doi":"10.5937/straman2200016k","DOIUrl":"https://doi.org/10.5937/straman2200016k","url":null,"abstract":"Background: Many countries spend up to 1% of GDP on implementing employment policies and assisting unemployed citizens, so it is important to assess the effectiveness of spending these funds. One of the Russian federal projects focuses on increasing the level of service recipients' satisfaction. The target indicator is 90.0% of satisfied recipients by the end of 2024. Purpose: This study aims to analyze the state of employment policy implementation in Russia. Study design/methodology/approach: The information base of the study is data of two questionnaire surveys of registered unemployed conducted in 2020-2021. In 2020, 4,800 unemployed people were interviewed in order to assess their satisfaction with the services received at the employment center. In 2021, 1,000 people from this number were re-interviewed in order to assess usefulness of the provided services. The survey evaluated several parameters, which influence the recipient's satisfaction with provided state employment services. Descriptive statistics methods were used to analyze the data. Finding/conclusions: The results show that over the past 3 years, respondents have noted positive changes in the work of state employment centers-expanding opportunities to receive services via the Internet, reducing queues in employment centers, increasing the availability of information about services. Also, the respondents rate usefulness of the received services for future quite highly employment. At the same time, low speed of service delivery, a large list of necessary documents, and insufficient customer orientation of employment centers staff are still being zones for development and improvement. Limitations/future research: The limitations of the study include a small number of existing studies on this problem, as well as the sample size. In further research, it is advisable to increase the number of unemployed interviewed in order to obtain more accurate and objective assessments of satisfaction with the services provided in employment centers.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"1 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75774151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
V. Mirović, Branimir Kalaš, N. Milenković, Jelena Andrašić
Tourism plays an increasingly important role in the economic flows of each country. Recognizing the tourist potential of AP Vojvodina is an important task for the creators of the economic policy of our country. In order to make a favourable tourism environment with quality tourist content and products, it is necessary for tourist entities to operate stably and successfully. The aim of this paper is to highlight the importance of financial performance of firms in tourism sector in terms of profitability. The subject of the paper is to analyse the effects of internal factors on profitability level of 3456 firms in tourism sector in AP Vojvodina for the period 2015-2019. The results of the analysis indicate that observed firms were profitable during the analysed period, where average ROA was 1.81% and average ROE was 3.4%. Empirical analysis shows that internal factors such as firm size, sales revenue, earnings before interest and taxes and financial stability have positive impact on profitability, while liquidity and debt negatively affect the profitability of firms in tourism sector.
{"title":"Profitability management of tourism sector in AP Vojvodina","authors":"V. Mirović, Branimir Kalaš, N. Milenković, Jelena Andrašić","doi":"10.5937/straman2110004m","DOIUrl":"https://doi.org/10.5937/straman2110004m","url":null,"abstract":"Tourism plays an increasingly important role in the economic flows of each country. Recognizing the tourist potential of AP Vojvodina is an important task for the creators of the economic policy of our country. In order to make a favourable tourism environment with quality tourist content and products, it is necessary for tourist entities to operate stably and successfully. The aim of this paper is to highlight the importance of financial performance of firms in tourism sector in terms of profitability. The subject of the paper is to analyse the effects of internal factors on profitability level of 3456 firms in tourism sector in AP Vojvodina for the period 2015-2019. The results of the analysis indicate that observed firms were profitable during the analysed period, where average ROA was 1.81% and average ROE was 3.4%. Empirical analysis shows that internal factors such as firm size, sales revenue, earnings before interest and taxes and financial stability have positive impact on profitability, while liquidity and debt negatively affect the profitability of firms in tourism sector.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"15 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84364608","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Digital transformation causes a comprehensive change of the company through the use or renewal of information and communication technologies with the aim of greater productivity, growth and competitiveness of the company. Digitization offers new business opportunities to companies, optimization of work processes and operations, more efficient operations, higher productivity, new ways of designing and operating business models, encouraging innovation and development, and new ways of promoting, communicating and connecting companies. Telecom operators are confronted with a choice between remaining a traditional telecommunications operator providing SOHO (small office/home office) businesses basic infrastructure services or switching to digital transformation. This study confirms that the SOHO market segment in the field of basic infrastructure of telecommunications services is saturated, that there is a potential for operators to offer additional services, and that customer loyalty is not related to the amount of implemented business solutions. Operators can thus build a business partnership in terms of mutual development and creating growth for all stakeholders in the process. The main guidelines of growth present a great opportunity for operators, arising from the challenges of SOHO businesses to switch to the process of digital transformation. Therefore, operators have to be prepared; the main guidelines of growth are conditioned by adjusting their strategic goals, redefining business processes, upgrading technology, raising the level of business relationship and developing a partner ecosystem.
{"title":"The main growth strategies of telecommunication operators in the segment of SOHOs","authors":"A. Faganel, Igor Jecl, Arne Baruca","doi":"10.5937/straman2200008f","DOIUrl":"https://doi.org/10.5937/straman2200008f","url":null,"abstract":"Digital transformation causes a comprehensive change of the company through the use or renewal of information and communication technologies with the aim of greater productivity, growth and competitiveness of the company. Digitization offers new business opportunities to companies, optimization of work processes and operations, more efficient operations, higher productivity, new ways of designing and operating business models, encouraging innovation and development, and new ways of promoting, communicating and connecting companies. Telecom operators are confronted with a choice between remaining a traditional telecommunications operator providing SOHO (small office/home office) businesses basic infrastructure services or switching to digital transformation. This study confirms that the SOHO market segment in the field of basic infrastructure of telecommunications services is saturated, that there is a potential for operators to offer additional services, and that customer loyalty is not related to the amount of implemented business solutions. Operators can thus build a business partnership in terms of mutual development and creating growth for all stakeholders in the process. The main guidelines of growth present a great opportunity for operators, arising from the challenges of SOHO businesses to switch to the process of digital transformation. Therefore, operators have to be prepared; the main guidelines of growth are conditioned by adjusting their strategic goals, redefining business processes, upgrading technology, raising the level of business relationship and developing a partner ecosystem.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"25 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81489771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Background: The relationship between entrepreneurial orientation (EO) and small firm performance has been extensively researched over the last couple of decades. However, the scientific community still does not have a unanimous view regarding non-linear relationships between EO and performance, especially when adding separate EO dimensions. Purpose: This paper explores the non-linear relationship between EO, observed as a unidimensional and multidimensional construct, and small business performance within a small, open, and transitional economy. Moderation effects of environmental turbulence on both direct and non-linear EO-performance relationships have been explored, as well. Study design/methodology/approach: Hierarchical regression analysis was used to test the research hypothesis on the data collected from 109 Montenegrin SMEs. Finding/conclusions: Results reveal that EO has a direct and inverted U-shaped non-linear relationship with small firm performance. Innovativeness and proactiveness have a direct positive effect on small firm performance. Risk-taking and autonomy have an inverted U-shaped non-linear relationship with small firm performance. Environmental turbulence does not positively moderate direct nor non-linear relationship between EO and small firm performance. Limitations/future research: Limitations refer to the relatively small dataset which may affect the strength of the result. Specific national institutional and cultural setting could also influence the findings. Information was gathered from the owners and managers of the observed firms which limited the ability to gather more diverse information from other stakeholders. Research focused on only one moderator explaining the non-linear relationship between EO and small firm performance. Therefore, future research should focus on conducting a multi-country analysis with larger data sets to strengthen the external validity of the present study, and should adopt a multi-level perspective in investigating the role of interrelations among EO dimensions in explaining performance variations. Future studies should continue testing the effects of other moderators in explaining the non-linear relationship between EO and firm performance, especially within a longitudinal context.
{"title":"Exploring direct and non-linear effects of entrepreneurial orientation and its dimensions on firm performance in a small, open, transitional economy","authors":"Milovanović Morić","doi":"10.5937/straman2200013m","DOIUrl":"https://doi.org/10.5937/straman2200013m","url":null,"abstract":"Background: The relationship between entrepreneurial orientation (EO) and small firm performance has been extensively researched over the last couple of decades. However, the scientific community still does not have a unanimous view regarding non-linear relationships between EO and performance, especially when adding separate EO dimensions. Purpose: This paper explores the non-linear relationship between EO, observed as a unidimensional and multidimensional construct, and small business performance within a small, open, and transitional economy. Moderation effects of environmental turbulence on both direct and non-linear EO-performance relationships have been explored, as well. Study design/methodology/approach: Hierarchical regression analysis was used to test the research hypothesis on the data collected from 109 Montenegrin SMEs. Finding/conclusions: Results reveal that EO has a direct and inverted U-shaped non-linear relationship with small firm performance. Innovativeness and proactiveness have a direct positive effect on small firm performance. Risk-taking and autonomy have an inverted U-shaped non-linear relationship with small firm performance. Environmental turbulence does not positively moderate direct nor non-linear relationship between EO and small firm performance. Limitations/future research: Limitations refer to the relatively small dataset which may affect the strength of the result. Specific national institutional and cultural setting could also influence the findings. Information was gathered from the owners and managers of the observed firms which limited the ability to gather more diverse information from other stakeholders. Research focused on only one moderator explaining the non-linear relationship between EO and small firm performance. Therefore, future research should focus on conducting a multi-country analysis with larger data sets to strengthen the external validity of the present study, and should adopt a multi-level perspective in investigating the role of interrelations among EO dimensions in explaining performance variations. Future studies should continue testing the effects of other moderators in explaining the non-linear relationship between EO and firm performance, especially within a longitudinal context.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"7 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83459084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0014
Rodolphe Durand
This chapter takes stock of prior works on competitive advantage, a root concept for the strategy field. It offers key definitional elements and rationales that associate competitive advantage with superior performance, as well as existing criticisms of the notion and its empirical evidence. The last section opens new avenues for defining competitive advantage and enriching its relationships to performance. They pertain to the connection with other relevant literatures (e.g., on competition and market categories), the broadening of what (superior) performance means, and the mobilization of new methods.
{"title":"Competitive Advantage = Strategy, Reboot","authors":"Rodolphe Durand","doi":"10.1093/oso/9780190090883.003.0014","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0014","url":null,"abstract":"This chapter takes stock of prior works on competitive advantage, a root concept for the strategy field. It offers key definitional elements and rationales that associate competitive advantage with superior performance, as well as existing criticisms of the notion and its empirical evidence. The last section opens new avenues for defining competitive advantage and enriching its relationships to performance. They pertain to the connection with other relevant literatures (e.g., on competition and market categories), the broadening of what (superior) performance means, and the mobilization of new methods.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"50 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78910702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0028
Robert A. Burgelman, S. Floyd, T. Laamanen, Saku Mantere, E. Vaara, R. Whittington
Strategy process research has yielded a richer understanding of the emergence of strategies from throughout the organization and over extended periods of time; strategy-as-practice research has helped us understand the range of actors involved in strategy and the tools they draw on in their strategy work. The purpose of this chapter is to encourage research that combines insights from these two traditions. First, the chapter offers brief overviews of process and practice research. Then, the chapter reviews the most recent work from 2018 onward. Most of the text, however, goes to discussing future research that combines process and practice perspectives and that focuses on four themes: temporality and spatiality, actors and agency, cognition and emotionality, and language and meaning. These themes are woven together by two “red threads”—strategy digitalization and strategy inclusion—that we expect will have significant impact on strategy formation.
{"title":"Strategy Processes and Practices","authors":"Robert A. Burgelman, S. Floyd, T. Laamanen, Saku Mantere, E. Vaara, R. Whittington","doi":"10.1093/oso/9780190090883.003.0028","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0028","url":null,"abstract":"Strategy process research has yielded a richer understanding of the emergence of strategies from throughout the organization and over extended periods of time; strategy-as-practice research has helped us understand the range of actors involved in strategy and the tools they draw on in their strategy work. The purpose of this chapter is to encourage research that combines insights from these two traditions. First, the chapter offers brief overviews of process and practice research. Then, the chapter reviews the most recent work from 2018 onward. Most of the text, however, goes to discussing future research that combines process and practice perspectives and that focuses on four themes: temporality and spatiality, actors and agency, cognition and emotionality, and language and meaning. These themes are woven together by two “red threads”—strategy digitalization and strategy inclusion—that we expect will have significant impact on strategy formation.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":"23 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79264157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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