Article

The Agile Innovation Pendulum: A Strategic Marketing Multicultural Model for Family Businesses

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Abstract

This article constitutes the second of two parts of a research project aiming to investigate innovation in family businesses (FBs) and to present a consumer-focused conduit to agility in the strategic marketing multicultural context. The current article explores theoretically the notion of Agile Innovation giving birth to the idea of the Dynamic Equilibrium of Agile Innovation. It subsequently introduces the “missing link” of the Agile Consumer to construct the FB Strategic Marketing Multicultural Agility Pendulum, conceptually and conclusively, while drawing in parallel significant theoretical and executive insights and implications. The research findings and contribution are supportive of family firms’ potentialities, indicating that these organizations have an inherent disposition towards agile innovation, with multicultural management acting as the agent of equilibrium. Caution, however, is demanded in developing the proper value propositions and “softer” agility features that will not perturb the often-delicate balances and unique bundle of features defining FBs. Methodologically, the research retains a scientifically founded exactitude, balancing the primary, the theoretical, and the conceptual countenances through a mixed inductive-deductive approach. The current article is conceptual and is based on a combination of narrative literature review, meta-synthesis literature review, and qualitative primary data (interviews).

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... Nevertheless, despite the benefits that digitalization entails for SMEs, they still lag in digital adoption (Kilimis et al., 2019;Gierlich et al., 2019). The peculiarities of SMEs, such as lack of access to finance and limited managerial capital resources (Thrassou et al., 2018), make it harder for them to digitalize. JSTPM Considering the major role of SMEs in the Armenian economy and the challenges they faced caused by the pandemic further aggravated by the war, it is important to explore the use of digitalization as a means to deal with the repercussions of COVID-19. ...
... Digitalization is multifaceted and requires formulation and implementation of adequate digital strategy (Imgrund et al., 2018). This represents a challenge to SMEs that do not always have capacity to undertake digital transformation, due to a lack of financial resources as well as limited managerial and human capital resources (Thrassou et al., 2018;OECD, 2021). This is particularly true for micro and small enterprises that tend to be underdigitalized in comparison to medium and large companies and have not fully realized the benefits of using digital technologies (International Labour Organization (ILO), 2021). ...
Article
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Purpose This paper aims to analyze the factors that affect the attitudes of Armenian small and medium enterprises (SMEs) regarding digitalization, examining whether they view it as a tool to foster innovation and business growth, while also assessing the extent to which digitalization mitigated the negative impacts of the COVID-19 crisis. Design/methodology/approach The empirical approach is based on data collected from 452 Armenian SMEs, which were further analyzed using SPSS Statistics 23.0 software. Scales for assessing the COVID-19 impact, innovation and digitalization were constructed and validated. To test five hypotheses, binomial logistic regression was conducted to appraise the importance of digitalization for Armenian SMEs, including the ability to mitigate the consequences of the recent COVID-19 pandemic. Findings The results of the analysis showed that the economic sector plays a significant role in forming the expectations of firms on the positive impact of digitalization, while the company size does not affect them. This paper found that the provision of online services before the pandemic did not help Armenian SMEs to be less affected by the crisis. Furthermore, the perception of whether digitalization facilitated innovative processes, products and services did not depend on the degree of being affected by COVID-19. Finally, the findings indicate that the more agile companies which had the ability to convert their business model into an e-business model were less affected by the crisis. Originality/value This paper contributes to the literature by studying the effect of digitalization on SMEs, as well as how SMEs in small developing countries like Armenia mitigated the negative effects of the COVID-19 pandemic. The current work is unique as, to the best of the authors’ knowledge, there are no prior empirical studies focusing on impact of digitalization and innovation induced by exogenous shocks in an under-researched country like Armenia.
... Moreover, extant literature concludes positive significant effect of agility on SME innovation performance (Del Giudice et al., 2021). Recently, Lee and Trimi (2021) and Thrassou et al. (2018) theorized potential affirmative effect of innovation on agility; however, requires empirical establishment. ...
... Third important contribution is to empirically establish a positive effect of innovation on agility, which has been theoretically noted by Lee and Trimi (2021) and Thrassou et al. (2018). The primary focus of innovation strategy is to support agility, become resilient, and competitive during market turbulence. ...
... Closedended questions are used in all quantitative and mixed-methods surveys besides Li et al. (2019) who analyzed an existing government dataset. Qualitative interviews comprised structured and semi-structured interviews, as well as critical reflection research methodology with sample sizes ranging from 4 (Asseraf et al. 2019;Lubowiecki-Vikuk et al. 2023) to 30 (Thrassou et al. 2018). The sample size for quantitative questionnaires ranges from 100 (Khan 2020) to 677, with a median of 195. ...
... Information technology aids in communication and sense and respond capabilities enabling agility (Alghamdi and Agag 2024;Hajli et al. 2020;Thoumrungroje and Racela 2021) Scenario planning Identifying and planning for scenarios in advance may alleviate knowledge gaps in market uncertainty (Lubowiecki-Vikuk et al. 2023;Moi and Cabiddu 2020) Train staff in agile methods Agile practices are learned, and employees support is needed to realize successful agile implementation (Khan 2020;Zhou et al. 2019) Focus on customer needs and wants Customer focus helps in matching the marketing mix to market demands. For example, engage customer feedback in prototyping, and release products and services early and then adapt based on feedback (Hagen et al. 2019;Kalaignanam et al. 2021;Thrassou et al. 2018) Hire diversity of thinking Diversity of skills, and experience in teams aids problem-solving and quicker adaptation to change (Kalaignanam et al. 2021) Implement marketing mix decisions considering the level of VUCA Varying VUCA severity in the market may require marketing mix adaptation (Lubowiecki-Vikuk et al. 2023) Consider agility a long-term investment Marketing agility takes time to implement, and ongoing prioritization, such as new employee training (Khan et al. 2022;Moi and Cabiddu 2021;Poolton et al. 2006) Ensure supplier flexibility Supplier flexibility may be needed to meet rapidly changing customer demands (Li et al. 2019;Osei et al. 2019) Implement knowledge management systems Knowledge informs future actions, thus benefits speed and accuracy in marketing decisions. Hence, capturing and sharing knowledge helps marketing agility (Zhou et al. 2019) ...
... Closedended questions are used in all quantitative and mixed-methods surveys besides Li et al. (2019) who analyzed an existing government dataset. Qualitative interviews comprised structured and semi-structured interviews, as well as critical reflection research methodology with sample sizes ranging from 4 (Asseraf et al. 2019;Lubowiecki-Vikuk et al. 2023) to 30 (Thrassou et al. 2018). The sample size for quantitative questionnaires ranges from 100 (Khan 2020) to 677, with a median of 195. ...
... Information technology aids in communication and sense and respond capabilities enabling agility (Alghamdi and Agag 2024;Hajli et al. 2020;Thoumrungroje and Racela 2021) Scenario planning Identifying and planning for scenarios in advance may alleviate knowledge gaps in market uncertainty (Lubowiecki-Vikuk et al. 2023;Moi and Cabiddu 2020) Train staff in agile methods Agile practices are learned, and employees support is needed to realize successful agile implementation (Khan 2020;Zhou et al. 2019) Focus on customer needs and wants Customer focus helps in matching the marketing mix to market demands. For example, engage customer feedback in prototyping, and release products and services early and then adapt based on feedback (Hagen et al. 2019;Kalaignanam et al. 2021;Thrassou et al. 2018) Hire diversity of thinking Diversity of skills, and experience in teams aids problem-solving and quicker adaptation to change (Kalaignanam et al. 2021) Implement marketing mix decisions considering the level of VUCA Varying VUCA severity in the market may require marketing mix adaptation (Lubowiecki-Vikuk et al. 2023) Consider agility a long-term investment Marketing agility takes time to implement, and ongoing prioritization, such as new employee training (Khan et al. 2022;Moi and Cabiddu 2021;Poolton et al. 2006) Ensure supplier flexibility Supplier flexibility may be needed to meet rapidly changing customer demands (Li et al. 2019;Osei et al. 2019) Implement knowledge management systems Knowledge informs future actions, thus benefits speed and accuracy in marketing decisions. Hence, capturing and sharing knowledge helps marketing agility (Zhou et al. 2019) ...
Article
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Firms increasingly need to be customer-focused and adaptable to changing markets. Marketing agility (MA), a dynamic capability, supports an organization to respond to market changes faster, often resulting in performance benefits. While MA provides advantages in volatile, uncertain, complex, and ambiguous (VUCA) contexts, limited research exists that inform MA conceptualization and practice in VUCA contexts. Furthermore, conceptualization of MA has resulted in many, often overlapping, constructs. In this review, we searched four databases and used snowballing to arrive at a corpus of 27 articles. The corpus is summarised using the theory–context–characteristics–methodology framework, with an emphasis on practical implementation. From our findings, we offer propositions in response to our research question that addresses an important research gap, and future research directions are discussed. We advance theory and offer conceptual clarity by finding that MA in VUCA contexts may be reimagined using seven overarching constructs and summarizing extant literature that will benefit academics and practitioners.
... As shown in the network (Fig. 5), two influential publications- Tokarczyk et al. (2007) and Craig et al. (2008)-are responsible for the development of the two main research trajectories. The first trajectory originates from Tokarczyk et al.'s (2007) work on RBV and MO in family firms; this work was cited by Beck et al. (2011), Zachary et al. (2011), Covin et al. (2016, and, more recently, Thrassou et al. (2018aThrassou et al. ( , 2018b. These publications all focus on MO, marketing-related resources, and strategic marketing in family firms. ...
... studied the relationships between the generation in control,MO, and innovation, and Zachary et al. (2011) validated the MO measure in the family firm context.Covin et al. (2016) proposed a configurational approach to behavioral proclivities and resources that affect radical innovativeness in family and non-family firms.Thrassou et al. (2018aThrassou et al. ( , 2018b examined innovation in family firms and consumerfocused conduit to agility in a strategic marketing multicultural context.The second trajectory, originated fromCraig et al.'s (2008) seminal contributions to understanding family brand identity, influenced the publications that received a high number of citations, ...
Article
Marketing in a family firm context has been increasingly researched over the past years. This study reviews 104 publications at the intersection of marketing and family firms to identify their theoretical roots, research trajectories, and themes and to propose new research avenues. For this, we integrated three bibliometric analyses: co-citation analysis, historical direct citation analysis, and co-occurrence analysis. We also conducted a qualitative review to further examine the obtained quantitative results. The findings show that the theoretical roots in the marketing and family firm research domain are characterized by two groups of cited references: those representing the earlier (before 2010) and later (after 2012) periods. The two main research trajectories identified are developed under the influence of two pioneering studies. Moreover, five distinct research themes are identified: brand and image, resources and performance, reputation, market orientation, and marketing strategy of family firms. Our results also highlight avenues for further research.
... This paper refers to the term strategy tool as a vehicle to identify and explore market opportunities (Rengarajan, Moser, & Narayanamurthy, 2021). Prior papers referring to agile approaches as a strategy tool are conceptual (Denning, 2018a;Holbeche, 2019;Ivory & Brooks, 2018;Srinivasan et al., 2020;Thrassou, Vrontis, & Bresciani, 2018), provide some examples but lack the depths a single case study can offer and do not explain how firms implemented agile in the strategy context (Annosi et al., 2020;Denning, 2017aDenning, , 2017bDenning, , 2019Doz & Kosonen, 2010), or focus on niche aspects of agility in the strategy context, like cultural barriers that constrain managers' agile decision-making (Hodgkinson, Ravishankar, & Fischer, 2017) or evaluation of innovative ideas (Dziallas, 2020). The conceptual studies mainly rephrase the well-established dynamic capabilities literature, heavily influenced by Teece, Pisano, and Shuen (1997). ...
... Beyond, scholars introduce terminologies and theorise about "organisational agility" (Walter, 2020) and "strategic agility" (Denning, 2017a;Doz & Kosonen, 2010;Xing et al., 2020), or more exotic terms, like "international marketing agility" (Gomes et al., 2020) and "strategic marketing multicultural agility pendulum" (Thrassou et al., 2018). ...
Article
Full-text available
Agile methods can be used as a strategy tool by incumbents to explore and exploit market opportunities through times of unprecedented industry transformation. Drawing on 18 interviews with managers at a premium manufacturer based in Asia, the case of sales in the automotive industry during the COVID‐19 crisis provides in‐depth insights into the crisis management, focusing on but looking beyond sales. Six fundamental principles are identified as strategic tools to leverage resources and improve business outcomes while using agile‐work methods.
... In contrast to the positive showcases of digitalization, SMEs experience challenges when trying to digitalize their business operations (Lergner et al. 2017). Manochehri, Al-Esmail and Ashrafi (2012) and Tarute and Gatautis (2014) found that lack of innovation culture and financial resources, limited time and managerial and human capital resources are major barriers for successful digitalization within SMEs (Thrassou et al. 2018a). Furthermore, SMEs often fail to fully realize the consequences of digitalization (Rivza et al. 2019) for the organizational structures, operations and strategies (Thrassou and Frey 2017), and therefore, have difficulties to identify the right tool that suits their business needs (Bouwman et al. 2019). ...
... In fact, the Internet gives SMEs a wide range of opportunities, such as creating, sharing and disseminating contents (Chimucheka and Mandipaka 2015), having a connection with people all around the world (Ormazabal et al. 2018) and gaining and searching information on a limitless number of topics and staying up to date (Morgan-Thomas 2015). Because it is characterized as a user-friendly, widely accessible and low-cost technology (Ormazabal et al. 2018) which mostly needs minimal service provider support (Morgan-Thomas 2015), it has been a central part of SMEs' business strategies (Thrassou et al. 2018a). Overall, the Internet offers SMEs opportunities to overcome limitations (Vadana et al. 2019) that come together with ICT uptake (Barba-Sanchez et al. 2007). ...
Chapter
SMEs have always been hailed as economic drivers and the major employer, across industries and nations. And though receiving, perhaps, less attention than they deserve compared to their larger counterparts, their attributes, role and style have always intrigued business scholars. SMEs, however, have seen their identity and position against large companies and customers change drastically over the information technology revolution of the past two decades. A period that has partly weakened them against competition from large global companies, but which has also armed them with competencies and opportunities to do things and reach customers that were unimaginable in the recent past. This chapter undertakes a comprehensive review of extant scientific works to identify the range and nature of opportunities and challenges faced by SME in contemporary business in the context of digitalization and information and communication technological developments.
... In contrast to the positive showcases of digitalization, SMEs experience challenges when trying to digitalize their business operations (Lergner et al. 2017). Manochehri, Al-Esmail and Ashrafi (2012) and Tarute and Gatautis (2014) found that lack of innovation culture and financial resources, limited time and managerial and human capital resources are major barriers for successful digitalization within SMEs (Thrassou et al. 2018a). Furthermore, SMEs often fail to fully realize the consequences of digitalization (Rivza et al. 2019) for the organizational structures, operations and strategies (Thrassou and Frey 2017), and therefore, have difficulties to identify the right tool that suits their business needs (Bouwman et al. 2019). ...
... In fact, the Internet gives SMEs a wide range of opportunities, such as creating, sharing and disseminating contents (Chimucheka and Mandipaka 2015), having a connection with people all around the world (Ormazabal et al. 2018) and gaining and searching information on a limitless number of topics and staying up to date (Morgan-Thomas 2015). Because it is characterized as a user-friendly, widely accessible and low-cost technology (Ormazabal et al. 2018) which mostly needs minimal service provider support (Morgan-Thomas 2015), it has been a central part of SMEs' business strategies (Thrassou et al. 2018a). Overall, the Internet offers SMEs opportunities to overcome limitations (Vadana et al. 2019) that come together with ICT uptake (Barba-Sanchez et al. 2007). ...
Book
SMEs are significant job creators and drivers of innovation and competition in most economic sectors. Furthermore, the traditional constraints of small and medium enterprises, such as geographic operations, are now being dissolved by technological developments. This means that there are new opportunities for SMEs, and their fundamental principles are being redefined: the aims, competencies, strategy, management, practice, and scope of these businesses are changing, with wide-ranging implications. This is the second part of a two volume work that incorporates scientific chapters on SME business theory and practice. Authors provide a balanced perspective of the present and future of SMEs across all business disciplines, for example management, strategy, marketing, economics and finance. While Volume I focuses on the individual SME and internal issues such as innovation, quality, and digitization, this second volume explores external issues such as contextual forces, the effects of the financial crisis, and macro-economic effects.
... Gorgievski and Stephan (2016) emphasize that resilient firms are able to act in times of difficulty and have a greater willingness to act compared to entrepreneurs who are deterred by shocks. Resilient actors simply face environmental threats better and respond to problems with sufficient agility and flexibility (Thrassou et al., 2018;Vrontis et al., 2012). In the areas where resilience is addressed, a number of definitions has been developed (Barasa et al., 2018;Béné and Doyen, 2018). ...
Article
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The beekeeping sector plays an important role in maintaining biodiversity and the ecosystem, in addition to its production function. The European beekeeping sector is facing a number of constraints that make it difficult to operate, and the Covid-19 pandemic has posed new challenges for beekeepers. The purpose of the study is to examine the resilience of beekeeping businesses to the most important problems affecting beekeepers and the Covid-19 pandemic. The research analyses the role of marketing and profitability and how they influence the resilience. Variables obtained from online questioning of a representative sample of Hungarian beekeepers (N = 297). Cluster analysis was used to validate the results. Using a Two-step clustering model, three clusters of beekeepers were identified: a non-resilient; a resilient, but not proactive and not very profitable and a resilient, proactive and profitable cluster. According to the research, the resilience of beekeepers is shaped by several factors. Well-trained, long-established beekeepers who seek to differentiate their products from their competitors’ overcome the difficulties caused by the pandemic and other beekeeping problems much more easily. Very important factors resulting in remarkable business resilience are the number of used subsidies and the number of cooperations.
... Strategic marketing has been evolving, becoming a model oriented towards the development of organizational strategies that enhance competitiveness and sustainability in the markets. Strategic marketing is defined by various authors as a process through which the creation of value in organizations and interested parties is enabled through the execution of actions in the tactical dimension (product, price, promotion, place) and strategic (segmentation, public objective and positioning) that optimize the achievement of results through the implementation of three phases: (a) analysis of the market and opportunities; (b) study and formulation of marketing strategies and (c) implementation and control of results [10], [11], [12], [13]. Regarding the analysis of the market and opportunities, [14], [15], [16], they consider that the strategic marketing process must assess the elements of market composition, since this analysis allows a review of the immediate environment, carrying out an analysis of the industry, purchasing behavior, market demand dynamics, and positioning around marketing strategies to generate inputs to be used in strategic formulation, which provides elements for execution and control of the strategies. ...
Article
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small and medium-sized enterprises (SMEs) are in a competitive system. The objective of the research was to analyze strategic marketing in SMEs in the bakery industry in the city of Barranquilla, for which a hypothesis is presented on the positive relationship between consumer behavior in relation to marketing strategies. Due to this, a categorical regression model was performed to test the hypotheses. The results showed that the industry analysis is more relevant for those companies that adopt a mature market strategy. The analysis of consumer buying behavior and the analysis of market demand dynamics prevail in the new markets strategy. Although product differentiation to achieve positioning is an important driver for companies that use growth market strategies, it is concluded that the consumer buying behavior hypothesis is valid because the analysis allows implementing differentiation actions that are included in strategic control, which is a complex thought process developed by top management.
... The directions and tools of strategic marketing management are extensively covered in numerous papers of such scientists as (Lobova & Bogoviz, 2017), (Malshe et al., 2017), (Thrassou et al., 2017), , (Varadarajan, 2018), (Vovchenko et al., 2018). One of the latest studies on this topic notes that there are substantial differences in the modern practice of strategic marketing management of strategic marketing management of retail trade enterprises at forming and developed markets. ...
... This leads to a vicious circle, as these companies are the main driver for competence development on the one hand but lack the necessary expertise on digitalization topics on the other [12]. Studies show that a poor innovation culture and a lack of financial and human resources are the main barriers to successful digital transformation in SMEs [20,21]. However, to drive the process of digital transformation, employees must acquire new skill sets as they are central to the overall transformation success of the companies [22][23][24]. ...
Article
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With the introduction of Industry 5.0, a new paradigm shift is planned. Whereas Industry 4.0 is still focused primarily on economic objectives to be achieved through digital transformation and automation of monotonous work processes, Industry 5.0 will also bring in social and ecological objectives. The focus is on holistic, sustainable, and human-centered value creation. Thus, the complexity of digitalization is increasing with the implementation of direct collaboration between humans and machines. In particular, small and medium-sized enterprises (SMEs) are faced with major challenges as they have limited resources for implementing a successful digitalization strategy. This makes the use of maturity models (MMs) a valuable tool for shaping the strategically aligned digitalization transition of companies. In this context, this paper reviews whether the currently existing MMs for Industry 4.0 address the specific requirements of Industry 5.0, and sufficiently consider a human-centered approach along with the assessment of readiness for disruptive technologies in companies (especially SMEs). The study examines currently existing Industry 4.0 MMs as a part of a systematic literature review. A total of 297 German- and English-language publications were found and systematically investigated, of which 24 MMs provided sufficient scientific information in the end. These were categorized using a self-developed evaluation matrix. Furthermore, they were evaluated and discussed regarding their human-centered approach and applicability to SMEs. Through the analysis, key characteristics for Industry 4.0 MMs were identified, which can serve as a basis for the development of an Industry 5.0 assessment for SMEs.
... Consequently, they do not take advantage of the opportunities offered by digital technology. This is the result of various factors such as financial investment, human and managerial resources, short time and especially the underdeveloped innovation culture (Thrassou et al., 2018). When it comes to managerial and innovative vision, many SMEs seem to fail to understand the repercussions of digitalization on the level of organization, operation and strategies (Rivza et al. 2019;Thrassou et al. 2020). ...
Article
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We are now in a new era of business management, where companies have understood that the sustainability and survival of their activities is based on mastering and adapting new technologies to their strategies. The result of the integration of technological power in the management of companies gives rise to digitalization that disrupts business strategies, contributing significantly to the creation of new business models. This profoundly affected the strategic context; changing the structure of competition, business conduct, and ultimately, performance across industries. This paper is a descriptive literature review of recent works discussing the impact digitalization has had on business. In this work, firstly, a theoretical overview of digitalization and its development is presented. Afterwards, the digitalization of business as well as its impact is discussed. The result of this review is a summary of the advantages and disadvantages that digitalization brings to businesses.
... For example, the relationship between marketing agility and financial performance under different levels of market turbulence is nuanced and complex (Zhou, Mavondo, & Saunders, 2019). Furthermore, the multicultural strategic marketing model can affect the variation of agile innovation in family businesses (Thrassou, Vrontis, & Bresciani, 2018). ...
... Thus, a research lacuna exists in the literature on small business economics, especially in understanding the corporate cash holding dynamics. Thus, with significant differences from large firms, the investigation of MSMEs' cash holdings behavior, especially the post-2007 crisis that led to stringent credit conditions, presents an interesting case (Thrassou et al., 2018;Thrassou and Vrontis, 2008). Khatib et al. (2021), in their bibliometric study on cash holdings literature, highlighted the research gap of the lack of studies on small and medium-sized firms in India. ...
Article
Purpose This study investigates the factors affecting corporate cash holdings for a sample of 598 Indian Micro, small and medium-sized enterprises (MSMEs) for nine years (2011–2020). Design/methodology/approach The system generalized method of moments (GMM) approach is used to examine the determinants of cash holdings in the Indian MSME context. Findings The article shows liquidity, cash flow, leverage, firm size, probability of financial distress and cash flow volatility significant in explaining cash holding decisions for MSMEs in India. No evidence of firm age and growth opportunities as determinants of cash holdings in Indian MSMEs has been found. In addition, strong evidence of cash flow volatility, cash flow and liquidity in differentiating the cash holding decisions in the service and manufacturing industry has been documented. Originality/value While earlier research has addressed this problem in developed nations, this is the first study that fulfills the need to investigate the variables that influence MSMEs' cash holding decisions in a developing economy like India.
... Today, consumers embrace abstract and intangible social, ethical, environmental, and humanitarian values connected to their self-image and self-actualization in brand relationships (de Kerviler & Rodriguez, 2019a;Thrassou, Vrontis, & Bresciani, 2018). Marketing strategies have focused on congruent relationships (Roy, 2010) that enhance brand image and preference solely based on products' functional attributes (Vrontis, Thrassou, Christofi, Shams, & Czinkota, 2020) making differentiation difficult (Rahman, 2014). ...
Article
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Cause-related marketing is a strategic approach to differentiate, earn consumer preference, and sustain brand growth by supporting environmental and social concerns. Cause-related campaigns are effective, impact consumers decision making, and build brand preference when there is a deep identification with the cause and an understanding of consumers’ motivators, affect factors, and aspirations. How cause-brand affinity affects the relationships that consumers nurture with these brands as they expand their selves is still unknown. This study assesses the impact of cause-brand and cause-self-identity fit on brand engagement in self-concept and self-expansion driven by consumers’ intention to self-verify and self-aspire when building brand relationships. Our findings suggest that cause-brand and cause-self-identity connection allow consumers to self-expand. A cause-brand value fit beyond functional and image is required for brand credibility and engagement to self-verify. Simultaneously, consumers self-aspire due to a fit between the meaning of the cause and their ideal selves and becomes a moderator source for self-expansion. A methodological contribution identifies a new “values” dimension in the conceptualization of cause–brand fit. A theoretical model is tested through confirmatory factor analysis, LISREL, and PLS-SEM modeling. Self-expansion and social identity are the theoretical framework. This study is the first to test the notion that consumers’ self-expansion results from the concurrence of cause-brand fit, cause-self-identity fit, and brand engagement in self-concept in cause-related marketing.
... Regarding R&D, Dong et al. (2021) show that family ownership has an inverted U-shaped relationship with cooperative R&D and political ties moderate the relationship; steeper in firms with more political ties than in firms with fewer political ties. Thrassou et al. (2018) introduced the concept of Agile Innovation in family firms indicating that these organizations have an inherent disposition toward agile innovation, with multicultural management acting as the agent of equilibrium. Carnes and Ireland (2013) theorize that resource pooling is a mediator between family and innovation. ...
Article
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Purpose There is still an ongoing debate on the value relevance of capital structure and its determinants. Recently the issue has been explored in family firms after being explored in mature firms. This paper investigates the role of institutional investors and the firm's innovation activity in influencing the firm's decision and ability to acquire debt capital. Design/methodology/approach A large sample of 700 privately-held family firms in Italy from 2010 to 2019. Two analysis techniques are used: panel analysis and path analysis. The value of debt and the debt ratio are used as leverage measures. The value of patent (as a proxy for innovation) and institutional investor are the explanatory variables. Findings The results show that institutional investors have no relationship with financial leverage measures except when controlling for an interaction variable (Institutional investors × Lombardy region). The patent value is positively correlated with debt; however, the ratio patent-to-asset is negatively related to financial leverage indicating higher risk exposure. The nonlinearity test demonstrates a turning point when the relationship between patent value and debt inverts. Practical implications Firms should monitor their innovation activity since excessive innovation increases risk exposure and affects financing opportunities and value. The involvement of institutional investors does not always enhance value. Originality/value Existing literature focuses separately on family firm innovations and financial leverage as outcome variables, emphasizing the role of institutional investors in both fields by adopting agency theory and socioemotional wealth framework. In this study, the authors go further by merging both relationships, investigating the dynamics of the institutional-family firm innovation relationship in influencing the firm's capital structure. The authors contribute to the ongoing debate by providing original findings on capital structure, governance and innovation, supported by rigorous methods to enhance family firms' decision-making.
... Deste modo, os consumidores se sentem melhor sobre sua decisão de compra se envolver aspectos éticos, bem como contribuição para qualquer causa socioeconômica (Bonetto, 2015;Choi et al., 2016;Laroche, 2017), pois buscam também valores abstratos, por exemplo, relacionados à fatores sociais e éticos (Thrassou et al., 2018). É importante notar que a marca consegue se diferenciar das concorrentes quando cultiva com sucesso uma reputação de autenticidade (Lischer, 2018). ...
Conference Paper
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Os consumidores cada vez mais se sentem melhores sobre sua decisão de compra se envolver aspectos éticos e contribuições à sociedade. Assim, as marcas demonstram sua preocupação com o desenvolvimento socioeconômico e ambiental. Entretanto, quando a ação da marca se torna incongruente com a imagem transmitida, ocorre a hipocrisia de marca. Embora muitos consumidores são céticos em relação às ações de responsabilidade social, as empresas se esforçam em cultivar uma reputação de autenticidade. O modelo propõe investigar os efeitos da hipocrisia de marca na intenção de compra e atitude à marca, e se a autenticidade e ceticismo do consumidor medeiam negativamente essa relação. Os resultados obtidos por dois estudos experimentais mostraram que a hipocrisia de marca diminuiu a intenção de compra e atitude à marca do consumidor, e também que a menor autenticidade e o maior ceticismo a partir da percepção de hipocrisia afetam a intenção de compra e atitude à marca. Desta forma, o presente trabalho contribui para avançar a literatura de comportamento do consumidor e branding, bem como contribuir para as marcas que buscam ser autênticas no mercado, para que toda sociedade se beneficie com empresas mais consistentes com seus reais valores.
... They further explained that Agile should not be perceived only as a flexible, iterative prototyping system, but as a welldeveloped, well-rounded system created to overcome various common obstacles to successful innovation. The study by Thrassou, Vrontis and Bresciani (2018) on Agile and innovation revealed that Agile is indeed an enabler of innovative transformations within organisations, and Agile's value has been realised in various organisational functions such as operations, marketing and corporate strategy (Rigby et al. 2016). The current technology competitiveness has forced organisations to be innovative in order to survive. ...
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Background: Organisations must respond quickly and consistently to ongoing global shifts. This streak separates remaining competitive from losing market share. Globalisation has accounted for the majority of this transformation, which has been reinforced by rapid digital transformation. Industry experts and researchers are continually studying effective remedies to this worldwide transition as part of their response to this drive. This is required because the world is changing unavoidably, and effective responses to the change should be investigated. Objectives: To study the relationship between Agile and innovation, and how this relationship might facilitate organisations’ reaction to global changes, in response to the battle of how to adapt to global transformations successfully. Method: A systematic literature review analysing 1645 peer-reviewed journals through the use of social network analysis. Results: The terms ‘Agile,’ ‘digital transformation’, ‘design thinking’, ‘agility’, ‘innovation management’, ‘lean’, ‘Industry 4.0’, ‘Agile development’ and ‘digital innovation’ have the strongest links to ‘innovation’. This demonstrates how innovation is reliant on Agile and its characteristics. Furthermore, the computed data clusters from the analysed dataset led to five propositions: (1) Agility sustains innovation strategies (P1). (2) Collaborating Agile methodology with digital innovation leads to competitive advantage (P2). (3) Agile development accelerates or facilitates new business models, such as Industry 4.0 (P3). (4) Design thinking creates value in innovation management or development of new product (P4). Lastly, (5) the concept or theory of lean Agile management (P5). Conclusion: The correlation between Agile and innovation is critical for effective responses to global digital transformations that are ongoing.
... The importance of understanding, recognising and improving this chain is so great that a bulk of experts have considered the efficiency and effectiveness of any organisational business as the result of management performance and supply chain structure. Therefore, the key to the survival of today's businesses and organisations lies in understanding the needs of customers and responding to such needs quickly (Handfield and Nicholas, 1999;Tardivo et al., 2011;Thrassou et al., 2018a). In other words, success in the highly competitive environment of today's businesses requires the amelioration and development of supply chains. ...
Article
Purpose In recent years, and especially during the coronavirus disease 2019 (COVID-19) pandemic, the significant role of agriculture, specifically red meat, in household consumption has been increased. On the other hand, the lack of proper policymaking in the production and pricing of red meat and the lack of a comprehensive study on the beef supply chain has led to a reduction in the role of this protein product in the household food basket. Thus, in this research, comprehensive strategic planning considering the effect of the COVID-19 pandemic has been illustrated to overcome the aforementioned problems. Design/methodology/approach To study the intended objectives, first, using qualitative methods, the strengths, weaknesses, opportunities and threats (SWOT) to the studied company's supply chain in Iran were identified and then using the SWOT-Quantitative Strategic Planning Matrix (QSPM) technique, the surrounding strategies have been analysed. Findings The results indicate that the most important strength of the studied company is the “access to the red meat market of the retirement plan”; the most important weakness is the “lack of required and on-time funding, especially in the condition of the COVID-19 pandemic”; the highest-ranked opportunity is the “access to banking facilities” and the main threat to the company is the “COVID-19 pandemic limitations and health protocols”. In the same vein, by examining the attractiveness score of internal and external factors, it was observed that diversity and competitive strategies would have a higher priority. Finally, the QSPM illustrated that activating the full capacity of existing infrastructure has the highest priority. Originality/value According to the red meat supply chain and the link amongst different market levels, identifying, analysing and improving the beef supply chain is of particular importance. One of the threats facing the international community is the emergence of events such as the COVID-19 pandemic, which requires businesses to choose the right strategy to deal with the issue. Therefore, the main distinction of this study is to identify, analyse and improve the red meat supply chain of a real case due to the condition of the COVID-19 pandemic.
... Additionally, marketing researchers have recognized that innovation characteristics, which are the focus of most adoption studies (Snyder et al., 2016), are no longer the exclusive determinants of adoption decisions. Instead, adoption decisions are largely based on the value they give to consumers' lifestyle and image (Thrassou, Vrontis, & Bresciani, 2018). Therefore, considering the hedonic nature of H&T (Bigné, Mattila, & Andreu, 2008), future adoption studies should include highly abstract value propositions in research models. ...
Article
This study critically reviews the key perspectives and topics in innovation research in various disciplines and the hospitality and tourism (H&T) field. This study synthesizes and analyzes 85 innovation literature review studies from several fields and 261 empirical articles from the H&T literature to achieve this purpose. The key topics are organized into three different perspectives based on how the phenomenon is understood: innovation as an economic phenomenon, innovation as a market phenomenon, and innovation as an organizational phenomenon. Through in-depth analysis and discussion, this article identified an extensive array of potential future research avenues. Some of these include exploring innovation as systemic turbulence under the lens of complexity theory, the commercialization of idle innovations as part of the open innovation paradigm, and the effect of corporate governance on innovation, representing key industry implications of the study.
... 102). The importance of organisational culture in asymmetric alliances has been highlighted by several researchers (Lavie et al., 2012;Thrassou et al., 2018), pointing out two dimensions: the cultural (norms and values) and procedural (organisational and management processes, and managerial skills) dimensions. Cultural compatibility is important when considering the use of DT. ...
Article
Asymmetry issues between partners concern the complementarity of assets across firms differing substantially in size, origin, experience, and objective, for which scholars highlight the importance of digital technologies (DTs) and learning. However, factors that influence partners to invest in DTs and learning remain underexplored. This study investigates how the collaborative context (complementarity, commitment, and compatibility) of asymmetric alliances affect the decision to digitise to enhance learning. We use six case studies of asymmetric alliances between partners from an emerging market and developed markets operating in varied sectors. The study reveals the types of collaborations under which partners can exploit DTs to develop learning capabilities. It also offers an adapted framework for such collaborations in the aspects of complementarity (absorptive capacity), compatibility (organisational culture and reciprocity), and commitment (objectivity and stability of the alliance). The results underline that high collaboration motivates partners to invest in digital platforms, leading to joint learning.
... Current trends indicate that companies are undergoing today organizational transformations generated by technological innovation (Spinuzzi, 2012;Sewell and Taskin, 2015;lsaad et al., 2018) that call for changes in management methods and practices. The management models evolved over time, focusing on wellbeing at work, agility, collaboration and flexibility, enabling the companies to cope the complexity of the different environments (Thrassou et al., 2018). A profound managerial transformation approach is also more and more designed to unleash the energy and creativity of employees in order to optimize the company's overall performance . ...
Article
Purpose A profound managerial transformation approach is increasingly designed to unleash the energy and creativity of employees. The purpose of this paper is to observe as the organizations in this sector can use the knowledge sharing to derive maximum efficiency from such crucial volunteers, creating an environment suitable for stimulating the psychological well-being that is the basis of engagement. Design/methodology/approach This exploratory study proposes a model to account the intrinsic and extrinsic motivations to exchange knowledge related to factors that stimulate volunteer's engagement. Findings The results of a survey of 301 volunteers operating in European organizations indicate that influencers of volunteers in a specific domain activated by knowledge sharing can act as sources of creation and can reinforce their identity, sense of belonging and trust in the organization. Research limitations/implications Despite results cannot be generalized because of the samples of convenience, exploratory factor analysis was used to identify the elements for which nonprofit organizations should activate a knowledge-sharing strategy so that engaged volunteers feel like cocreators of values and therefore act as true competitive assets. Originality/value This paper contributes to the expansion of engagement studies through framing the motivations of volunteers in knowledge sharing as a process of social interaction that involves knowledge, experience and expertise and which is able to create an environment suitable to feeding the psychological well-being that is the basis of engagement.
... In this vein, networking activities in varied forms, acquire significant relevance, ensuring at the same time access to knowledge and information, as well as the development of trust relations with business partners located in foreigner countries, which allows a continuity in time of the business choice concerned (Haahti et al., 2015). Chebbi et al. (2013Chebbi et al. ( , 2015 and Thrassou et al. (2007Thrassou et al. ( , 2012Thrassou et al. ( , 2018, who present both primary and conceptual research comprising some of the key concepts of the above research studies, such as innovation, creativity and new product and process development, present these elements not as isolated or independent factors but as interlinked elements of a unified system, paying particular attention to the so-termed soft values that are inherently related to the human factor. External and internal networking and knowledge development are then presented as distinct strategic imperatives of contemporary companies, toward both competitiveness and reflexivity/adaptability. ...
Article
Purpose This paper aims to investigate the internationalization strategies of small and medium enterprises (SMEs), focusing on the interaction between network ties and “soft” internal resources at the foundation of knowledge management (KM). Specifically, it identifies the firms’ internal capabilities that affect KM strategies, and their collective influence on the degree of internationalization; verifies the influence of network ties on the internationalization process itself; and develops a conceptual “preliminary theoretical framework of SME internationalization capabilities and networks.” Design/methodology/approach The primary research and analysis are based on a proportional stratified sample of Sicilian wineries; while the conceptual and implicative developments of the paper rest on the combination of the theoretical with the primary findings of the research, and, it has been designed and tested through eight experts’ interviews/reviews. Findings Findings underline a strong influence of the internal capabilities of firms on the internationalization process. In addition, an important role in the export process emerges from the acquisition of information and knowledge through the establishment of networks. Research limitations/implications The results need to be interpreted within the context for which this study was designed and cannot be applied generally to all businesses. However, results allow cellars’ managers to better understand the relationships among the influencing factors of SMEs internationalization. Originality/value The originality of the paper lies not only in its above-stated explicit theoretical objectives and findings but also in its comprehensive conceptual framework that theoretically incorporates the “strategic” with the “internal” and “networking” aspects; purposefully also arming the industry with a practicable tool toward managerial implementation.
... Companies are forced to develop strategic approaches focused on customers. The research of Thrassou et al. (2018) appeals to the concept of "consumer value". This value is often touted for example as agile innovation at the strategic marketing level, and appears to be a natural and real competitive advantage. ...
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This article addresses Marketing 4.0 as an exceptionally dynamic field for company competitiveness that is evolving rapidly. The main goal of this article is to evaluate and compare the overall level of use of modern marketing tools in practice by family and non-family businesses, and subsequently to measure the dependence between the extent of Marketing 4.0 activities and number of employees, volume of sales, field of business, and year the company was established. Primary and secondary data was analyzed using basic and advanced statistical methodologies, including the testing of six hypotheses. The study showed that for both family and non-family businesses there has not been any significant increase in overall marketing vitality in the years studied. Indeed, the long-term focus of companies on values provided to customers and relationships with customers was confirmed. The results further showed that from the perspective of marketing vitality, one of the currently more significant weaknesses of smaller companies in particular of both family and non-family types is a missing or insufficient strategy for realization of marketing activities. This study confirms the dependence of the level of overall marketing vitality on sales volume and company size by number of employees, but on the other hand no dependence was proven between marketing vitality on field of business or year company established. This study evaluates the liminality and states that family businesses above all others address what is for them a more important strategic question, namely that of succession. The study is unique in that it compares the results of three studies carried out between 2016 and 2019. The context of this study is framed by an appeal to eliminate barriers to change and rapid response by companies to the needs, requirements, and expectations of customers operating in the online world.
... It is, however, this exact set of organizational knowledge on EI that develops and enhances the individual abilities, capacities, skills and competencies of identifying, assessing and managing ones' and others' emotions that ultimately give rise to the above-described benefits and values. To conclude, the management of the ICSEs must strictly consider the aspects and cultural differences between FSEs and customers (Del Giudice et al., 2017;Thrassou et al., 2018aThrassou et al., , 2018b. ...
Article
Purpose This paper aims to explore the perceived negative emotions of both customers and frontline service employees (FSEs) during intercultural service encounters (ICSEs); and the building and utilization of corresponding knowledge in the banking sector. Design/methodology/approach To reach the paper’s goal, a qualitative approach through semi-structured interviews conducted in the context of the banking industry is developed and presented. Findings The findings presented and discussed the “perception of emotion” and the building of corresponding knowledge about ICSEs. Specifically, FSEs and foreign customers were found to be capable of perceiving negative emotions, both their own and of others. The authors further identified an array of emotions and feelings that facilitate the understanding of how ICSEs can be managed and improved. The findings finally highlight the degree and nature of the importance of building and storing knowledge on ICSEs soft processes, which are termed a key asset for service companies. Originality/value An encounter between a service provider and a customer of different cultural backgrounds can become complex and critical. Despite this, there is not enough empirical evidence neither on the socio-psychological processes that take place during these encounters nor on how different ethnic groups develop interpersonal trust within the service sector. This research offers empirical insights regarding the means of detecting emotions and of improving the quality and management of knowledge on ICSE.
... Considering that technological breakthroughs and global integration drastically reduce the time to take key strategic decisions, acquiring strategic agility can no longer be considered a source of strategic advantage for the software industry alone, but is paramount for all firms in any industry that want to avoid becoming "elephants that need to learn to dance" (Doz and Kosonen, 2008: 96). Recently, some researchers (e.g., Thrassou et al., 2018aThrassou et al., , 2018b have used strategic agility as a connector to explain the relationship between family businesses and innovation. Strategic agility is a key dynamic capability for firms, and particularly advantageous in the IJV context where continuous learning, re-evaluation, and adjustment cycles are required in the post-formation F. Debellis, et al. ...
Article
Despite the considerable increase in studies on international joint ventures (IJVs) and family business, the two research streams have yet to be systemically integrated. Family firms have unique characteristics that affect their involvement in IJVs differently from their non-family counterparts. Indeed, family firms face a paradox entailing a lower willingness to form IJVs, but a higher ability to govern them. Drawing on three distinct components of strategic agility (i.e., strategic sensitivity, leadership unity, and resource fluidity), we develop a theoretical framework that unravels this paradox. Specifically, we argue that strong emotional attachment reduces family firms' strategic sensitivity, creating a motivational gap with respect to forming IJVs. On the other hand, when family firms overcome this gap by making full use of their board of directors, they have higher levels of leadership unity and resource fluidity. These dimensions lead to a greater ability to govern the complexities of the relationship, hence reducing opportunistic hazards, and significantly increasing the odds of the long-term success of IJVs. We develop propositions for empirical studies, and offer implications and directions for future research.
... Value is one of the central ingredients of relationship marketing (Shams, 2016a(Shams, , 2016b2016c). The value of products or services is a resource of growing customer satisfaction (Shams and Kaufmann, 2016;Thrassou et al., 2012;Thrassou et al., 2018a), which in turn ensures enhanced relations with the customer (Ravald and Gronroos, 1996;Gronroos, 1997). Relationship marketing emphasizes to preserve and improve continuing relations with the present customer as well as recognizing and acquiring fresh ones (Grönroos, 2006;Hunt et al., 2006;Dash and Das, 2009;Shams, 2017). ...
Article
Purpose Customer relationship management (CRM) is instrumental to attain and sustain organizational competitive advantage. Innovation in terms of CRM adoption is the key to gain competitive advantage, and being innovative is dependent on how well organizations know about changing demands of customers and their changing ways to gain access to the market. There is hence a need to develop ongoing empirical insights from diverse management perspectives into the effect of CRM adoption on organizational performance. In this context, the purpose of this study is to develop empirical insights in relation to the moderation of technological turbulence in the banking sector. Design/methodology/approach Primary data were collected and analyzed from 277 CRM staff-members of the banking sector in Pakistan to test a conceptual model. Frequencies of demographics are calculated with correlation and regression analyses using SPSS. The correlation analysis was performed to identify the direction that exists between the dependent and independent variables, and the regression analysis was performed to study the strength/intensity of the independent variable over the dependent variable. Moderating regression analysis was performed to find the moderation effect of technological turbulence on CRM adoption and organizational performance. Findings The CRM adoption has a critical positive impact on organizational performance in the settings of business-to-customer (B2C) perspective in the banking sector. Moreover, the results uncover that improved client satisfaction through CRM adoption prompts better organizational performance in the B2C organization. The authors also have found that technological turbulence has a negative guiding impact on the association linking with CRM adoption, as well as organizational performance. Research limitations/implications The conceptual model that is proposed in this study and supported by empirical insights offers researchers to develop future research studies on the moderating role of technological turbulence to analyze the influence of CRM adoption on organizational performance. Practical implications The empirical insights of this study are valuable for the professionals in the banking sector and other B2C organizations to enrich their organizational performance through CRM adoption while considering the moderating role of technological turbulence. Originality/value Based on an empirical study, in support of an original conceptual model, the insights of this paper contribute to the extant literature in the CRM, bank marketing and management, service management, B2C marketing and the emerging economy knowledge streams.
... Lean production has received a consensus definition as a strategy that ensures the elimination of waste whilst emphasising the flow of goods . However, contemporary market environments are presenting organisations with an important challenge (Jasti & Kodali, 2015); consumers are demanding more new and innovative products, but require or expect these innovations to occur in a very short period of time (Thrassou, Vrontis, & Bresciani, 2018). This is evidenced by the sharp increase in UK vehicle production from 2010 to 2016 (SMMT, 2015), which demonstrates how the ability to adapt quickly and effectively to changes in consumer expectations is just as important as efficiency metrics (Chi & Gursoy, 2009). ...
Article
The UK automotive industry is home to a large number of foreign firms, demonstrating the open nature of competition. However, the industry necessitates both exploitative and explorative capabilities. Contingency theory suggests that firms align their internal structure with contextual factors. As such, the aims of this study were to investigate whether it was possible to distinguish home-owned (UK) and foreign-owned firms based upon: a) the microfoundations of ambidextrous production, which are conceptualised as lean and agile routines; and b) the tier at which these firms operate in the automotive supply chain. Survey data were collected from 85 home-owned and 55 foreign-owned firms within the UK Midlands automotive industry. Logistic regression results revealed that home-owned firms were significantly more likely to be implementing explorative (agile) production methods, whereas foreign-owned firms were significantly more likely to be implementing exploitative (lean) production. Home-owned and foreign-owned firms were found to be significantly more likely to be operating upstream and downstream in the automotive supply chain respectively. Thus, the findings support a contingency theory explanation, suggesting that firms align their performance priorities with contextual factors, but we argue that home-owned and foreign-owned firms have evolved to compete based on their different innovative capabilities, which are located at different tiers of the automotive supply chain. On this basis, although neither home-owned nor foreign-owned firms were found to be endogenously ambidextrous, we argue that foreign-owned firms internationalise into the UK automotive sector to exploit the explorative capabilities acquired by home-owned firms operating upstream in automotive supply chains, thus enabling ambidextrous capabilities at an exogenous, industrial level.
... On this basis, algae cultivation could be a source of diversification and income for farms, due the potential production of compounds with a wide application and high added value [26]. The diversification of the agricultural business, through an innovative process such as algal biomass for the production of biodiesel and high added value products, could concretely contribute to the creation of a competitive advantage [27,28,29]. ...
Article
In recent years, the cultivation of algae has achieved attention of scientists and practicioniers due to the great variety of products that can be obtained, among which biofuels. The aim of this work is twofold. The first is to perform a profitability analysis of food and biofuel production from microalgae, in a small-scale setting. The second is to assess the economic impact of algae production systems on the dairy farms potentially interested in Southern Italy. The analysis was performed using financial and economic indicators and considering two system management scenarios, namely single and collective. Our results confirm that current microalgae production technology favors biofuel only as a co-product and that the production of high-value co-products improve profitability and net income in Southern Italian dairy farms, either in single or collective management. More specifically, the single management is more profitable, but the collective is more viable. The sensitivity analysis, based on the price uncertainty of algal biomass, confirms that the price of product is a critical parameter to ensure the investment feasibility in the agricultural context analyzed. Current study provides hints to entrepreneurs and managers operating in the agricultural sectors, interested in improving their firm’s performance through the adoption of a diversification strategy of business activities.
Article
The agile approach is a timeboxing approach wherein the entire project is broken down into smaller tasks of user stories that iterate continuously to improve from feedback obtained frequently. Agile methodology in the right blend of its values and principles can be used in a dynamic environment to manage cross-functional teams for faster and effective decision-making. Flexibility is of prime importance in the agile approach which helps organizations to thrive in rapidly emerging market conditions. The timeliness and cost-effectiveness provided by the agile methodology give a competitive edge to the organizations employing it. Fast-evolving consumer trends and market needs were contrasted by lengthier project timelines of other traditional methodologies. This created the need for methods that provide faster outputs at their fullest potential for the organizations to retain their customers and position in the market which motivated this research. Yet, a huge research gap exists in the area concerning the development of agile methods. This article aimed to provide a deeper understanding of how agile can be used to solve the complexities of the current day market conditions along with its widespread applications in various industries through a systematic literature review of past research work. Further, this review also aims at explaining the impediments of adopting agile methodology in any sort of organization under any given circumstances. During the study, it was found that there were several definitions and frameworks of agile that have been proposed in different forms. This review has tried to provide a consolidated concept of the agile approach presented to date.
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ÖZET Bu çalışmada Zhou J., Mavondo F. ve Saunders S.G. (2019)’in geliştirmiş oldukları Pazarlama Çevikliği ölçeği, Türkçeye uyarlanması yapılmıştır. 15 sorudan meydana gelen ölçek soruları işletmelerde pazarlama departmanında yönetici konumunda olan katılımcılara uygulanarak 251 adet anket verisi toplanmıştır. Ölçeğin dil geçerliliği için İngilizce alanında uzman iki akademisyenin çevirileri yapması ile, ölçek maddelerinin gramer ve cümle yapıları incelenmiş, ters çeviri yöntemiyle çeviri kontrol edilmiştir. Alana hâkim dört akademisyen ile ölçek maddeleri ölçülmek istenen kavramla ilişkisi ve Türk kültürüne uygunluk açısından denetlendikten sonra, anket formuna son hali verilmiştir. Ölçeğin yapı geçerliliğini analiz etmek amacıyla güvenilirlik analizi ve geçerlilik analizleri yapılmıştır. Yapılan Açıklayıcı Faktör Analizi (AFA) ile dört faktörlü pazarlama çevikliği alt boyutları proaktiflik, cevap verebilirlik, esneklik ve hız olarak belirlenmiştir. AFA sonucuna göre KMO değeri 0,834 olarak bulunmuş, dört faktörlü ölçeğin toplam varyansın %55.088’ni açıkladığı görülmüştür. AFA’dan elde edilen madde-faktör yapısının doğrulayıcı faktör analizi (DFA) ile model uyumu tekrar test edilmiştir. Buna göre pazarlama çevikliği ölçeğinin dört faktörlü yapısının doğrulandığı görülmüştür. (X2 = 130,675, df = 83, X2/df = 1,574, RMSEA = 0.04, GFI = 0.93, AGFI = 0.90, CFI = 0.93, TLI = 0.92). Buna göre model anlamlı bulunarak, pazarlama çevikliği ölçeğinin madde-yapı ilişkisinin geçerliliği, modelde bir değişikliğe gidilmeden dört alt boyut ve 15 madde ile desteklenmiştir. Ölçeğin güvenilirliği α=0,813 olarak bulunmuştur. Elde edilen bulgular pazarlama çevikliği ölçeğinin Türkçe ölçeğinin kabul edilebilir değerlerde güvenilir ve geçerli bir ölçme aracı olduğu sonucuna ulaşılmıştır.
Article
Purpose This study aims to propose an integrated framework for analyzing the effect of lean and agile innovation on the lean and agile supply chains. Design/methodology/approach The literature was reviewed and the dimensions of lean and agile supply chain/innovation were extracted. The statistical population included the managers and experts of pharmaceutical companies in Isfahan province. Eight pharmaceutical companies were selected. A researcher-made questionnaire was used to investigate the research variables. The face and content validity of the questionnaire and the data reliability were confirmed. After data collection, the studied companies were positioned in a two-by-two matrix and the associated data of two cells of the matrix, i.e. high lean supply chain/innovation and high agile supply chain/innovation were used for further statistical effect analysis using Smart-PLS. Findings The research results indicated that with the improvement of lean innovation in pharmaceutical companies, the lean supply chain improved by 97.9%; and with the improvement of agile innovation, the agile supply chain improved by 97.1%. Practical implications Considering lean innovation, pharmaceutical companies should deal with the process of conceptualizing innovation, and regarding agility strategy, their focus should be more on generating ideas to improve their agile supply chain. This study was performed during the COVID-19 pandemic and offers appropriate innovation strategies to improve the supply chain of pharmaceutical companies. Originality/value The literature review implies that no research has been conducted on the selected and classified variables of this study. Also, using the positioning matrix before statistical analysis distinguishes this paper from similar studies.
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This research aims to determine the evolution and development of SME digitization research trends published in leading scientific journals. The data analyzed comprised 650 research publications indexed in the Web of Science platform. The data is processed and analyzed using R Bibliometric to examine SME digitization. The results showed that the number of publications on SME digitization had increased significantly. Then, most of the types of papers discussing SME digitization are articles in scientific journals. The main findings are that SME digitization research focuses on information technologies, archive digitization, digital transformation, innovation, industry 4.0, technology, sustainable development , covid-19, sustainability, and public policy.
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Agility has become increasingly relevant in research and practice in recent years. Originating from software development, it is now progressively applied beyond this field. This agile scaling enables companies to harness the benefits of a flexible and rapid response to change. Widespread digitalisation, increasing complexity and dynamic competitive conditions require companies to demonstrate flexibility and speed of response to drive a digital transformation (DT) towards a digital business. In the wake of the COVID-19 pandemic, many companies have been confronted with DT. Against this background, this paper aims to derive from previous research how companies can benefit from agile project management and agile scaling in DT. For this purpose, a structured literature review was conducted on four scholarly databases, 225 articles were found and reduced to 28 relevant articles through a methodical approach. The review revealed that agility is defined as a driver of DT. Starting from agile digitalisation projects, agility can be carried into the organization and thus support DT. Nevertheless, while the connections between pandemic and DT and between agility and DT are already the subject of research, the two fields have not been linked in the analysed articles. The findings synthesize the current state of knowledge and suggest first agile approaches to framing DT in the context of the pandemic. Future research efforts are needed to provide companies with measures for dealing with the “new normal”.KeywordsDigital transformationAgilityScaling agileCOVID-19
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Given the potential of internationalisation for overcoming constraints in the domestic knowledge and technology of developing economies and thus enabling SME innovation, this study investigates the importance of foreign technology licensing, exporting, and importing for SME innovation in developing economies at different levels of development. Using the lens of institutional theory and the levels of development model, we examine samples of SMEs in the factor-driven economies of Sub-Saharan Africa and the efficiency-driven economies of various European and Central Asian post-socialist countries. Our results suggest that the effects of ‘importing’ and ‘exporting’ on SME innovation strongly depend on the level of the country’s economic development. We also find a positive association between foreign technology licensing and innovation; the effect is stronger in the Sub-Saharan factor-driven economies than in efficiency-driven economies.
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The article is devoted to the problem of strategic partnership in business through theoretical and practical focus. Theoretical and methodological analysis of the essential definition of the concepts of "strategic partnership" and "strategic alliance" in the works of foreign and domestic scientists. The author's definition of the concept of strategic partnership, which, unlike existing ones, is presented as one of the most flexible organizational forms of integration of businesses (enterprises), which is endowed with a number of essential distinguishing features business structures with strategic perspectives and goals. The principles of integration aspirations of business structures, which are based on the multifactorial nature of integration processes, which is reduced to the use of the benefits of integration through interconnectedness, interdependence and mutual benefit, are highlighted. The main goals of the strategic partnership are highlighted, the key ones being: avoidance of sanctions, tax liability, quotas; impact on the nature of competition in the industry; access to new markets through the partner's sales network; reduction of costs and risks of research and development; use of highly qualified research and engineering potential of contractors; maintaining the independence of the organization, etc. The most common types of strategic partnerships are considered, including strategic marketing, strategic supply chain partnerships, strategic integration partnerships, strategic technology partnerships, and strategic financial partnerships. Substantiated advantages (business incentives). The risk factors that must be taken into account before signing the agreement, both organizational and legal, and personal in relation to potential counterparties. The necessity of forming a partnership agreement and the list of basic conditions to be described in the partnership agreement are substantiated. A number of basic rules (principles) have been established, which are the key to an honest and fruitful strategic partnership in business. Expert assessment of practitioners on the decisive role of strategic partnership in effective business activities is given. The direction of further research is outlined, which can be reduced to the study of business cooperation strategies and features of their implementation in domestic enterprises.
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Though the notion of the changes that crises bring about are understood, their mechanism, characteristics, effects and underlying motivators are less so, and vary across the organizational, industry and market typology. Of course, it also depends on the nature of the crisis, its severity, its length, its timeframe, its geographic spread and other factors. This chapter, thus, brings together incorporate scientific works (chapters) on contextual transformations and reciprocal organizational adaptations that will help delineate the above forces and factors, as well as their interrelationship in differing settings.
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In the present digital environment, a data-driven organizational culture has become a vital emerging driver of organizational growth. This data-driven culture has assumed an advanced shape due to adoption of artificial intelligence (AI) integrated business analytics tools in the organization. Data-driven culture in the organization could considerably impact product innovation strategy as well as organizational process alteration. In this context, the aim of this study is to investigate how an organization’s data-driven culture impacts process performance and product innovation that led to enhanced organizational overall performance and higher business value. Methodologically, supported by relevant extant literature and inputs from the resource-based view and dynamic capability theories (organizational context), a conceptual model and a set of hypotheses are initially developed. These are subsequently statistically validated through a survey involving 513 usable responses from employees of different organizations using business analytics tools embedded with AI capability. The findings demonstrate that an organizational data-driven culture has considerable moderating impact on product innovation and process improvement, which ultimately enhance business value through improved organizational overall performance.
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Purpose Amidst the plethora of mass communication methods that technology bestowed business with, print advertisements still remain an effective and widely utilized advertising tool, and retain a diachronically venerable position in international marketing practice. Bar and transcending mere academic fascination or curiosity, this research provides insights into the past, an understanding of the present and an outlook into the future. In this vein, through a methodical and comprehensive critical review of extant literature on print advertisements since 1965, this research aims to identify gaps in extant knowledge, to map its trends and divergences, to trace its paradigm shifts and to ultimately develop agendas for truly significant future research. Design/methodology/approach This spatial-temporal study reviews 256 methodically selected articles, using VantagePoint software, and adopts a novel methodology through natural language processing (NLP), text mining, auto-correlation maps, and bubble maps to conduct and present a robust analysis and explicit findings. Findings Using also the VOSviewer for density and network visualization, the results identify the predominant literature themes and, conversely, the relatively under-researched areas, and provide a more insightful collective interpretation of extant works, while laying the foundation for future research of greater value and significance to academia and industry. Originality/value This study transcends the partial and/or limited analyses and perspectives of extant literature to present scholars with the first comprehensive and long term meta-analysis or systematic study of print advertising, with explicit findings of both scholarly and executive worth.
Article
Purpose This article calls for a multi-perspective innovative strategic outlook to examine the matter across its varied managerial and marketing functions and across geographic regions and organizational types. Design/methodology/approach Traversing the typological and geographic spectrum of businesses, one observes an incessantly changing environment, characterized by constant shape-shifting of all macro- and micro-environmental forces. Amidst this ultra-competitive new setting, organizations globally are struggling to evolve in a manner that befits their individual and collective contextual developments. Irrevocably, time-honored strategies and tactics, appear decreasingly capable to deliver the means to increasingly obscure effects, thus, creating a visible gap in extant theoretical knowledge and a definite need for effective contemporary practices. Inescapably, organizations have begun to abandon the habitual road of conventional strategic practices to adopt innovative means to often innovative ends, urged also by the pandemic condition of 2020+. Findings It endeavors to implicitly define and communicate a changing organizational spirit and philosophy, infused with innovativeness, and which transcends the limitations of tangible functionality to embrace strategic, managerial and marketing notions pertaining to the wider business environment shifts and developments. Originality/value This article endeavors to implicitly define and communicate a changing organizational spirit and philosophy that transcends the limitations of tangible functionality to embrace strategic management and marketing notions pertaining to the wider business environment shifts and developments.
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Purpose The objective of this study is to evaluate the key issues that how social capital augments the initiation of strategic renewal through the mediating role of entrepreneurial orientation and the moderating role of organizational flexibility. In the context of Small and Medium Enterprises (SMEs) of developing economies, the study developed and tested the theoretical model of strategic renewal for analyzing its major outputs. Design/methodology/approach This study utilized cross-sectional design and employ quantitative approach. The data were collected from the owner, managers and executive directors of pharmaceutical SMEs of Pakistan. The study used statistical analysis of correlation and regression for the analysis of data. Findings The study discovered that entrepreneurial orientation mediates the positive relationship of social capital and strategic renewal. Moreover, high organizational flexibility strengthens the association between social capital and strategic renewal of SMEs. Originality/value This research contributes to the body of knowledge by providing empirical evidence that how to thrive the mechanism of strategic renewal. The study further provides understanding of the effects of organizational social capital, entrepreneurial orientation and organizational flexibility on strategic renewal.
Chapter
SMEs, like most organizations across the typological spectrum, have substantially and visibly been affected by the wider (r)evolution that has transformed the business context internationally. The well-established, albeit undefined and unpredictable combination of forces, such as information and communication technologies, sociocultural and political changes, economic crises and rising consumer bargaining powers, have reshaped the very foundations upon which SMEs traditionally grew and competed. And though change in itself has diachronically been a constant in business contexts, its current extent, nature and pace leave few lessons to be learnt from past experience. SMEs, thus, struggle to find their position and role in this new world, and to do so they first need to understand it. This book presents scholarly and executive readers alike with a collection of independent works that are mutually joined by their contribution to our understanding of these changing conditions that ultimately shape the business context of SMEs, providing, along the way, valuable information of both scientific and practicable worth.
Chapter
SMEs, diachronically, have been characterized by scholars, practitioners and administrators as economic drivers, major employers and innovators. The identity of SMEs, along with their characteristics, attributes and competencies, had been considered to be distinctly different from that of their much larger counterparts. Their strengths and limitations, as well as their opportunities and threats, were therefore linked to their size and its natural pros and cons. The twenty-first century, however, combining significant technological and communications advancements with intense globalization and significant sociopolitical changes, has changed the identity and role of SMEs, substantially broadening their opportunities and the challenges they need to overcome. This book, therefore, brings together a collection of scholarly works that present these contemporary issues through different case studies, perspectives, industries and markets, and individually and collectively add to our knowledge and understanding of SMEs in today’s business and socio-economic context, along with the opportunities and challenges that lie ahead.
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The combined effect of strategic ambidextrous management (dynamic capabilities and contextual ambidexterity), marketing and brand communication management has been implicitly and explicitly identified as bearing critical implications for competitive advantage. However, the mutual influence of these knowledge streams on competitive advantage as well as its key component of contextual ambidexterity are much under-researched. This article follows an inductive con-structivist method to develop a theoretically founded conceptualisation of the means through which the various stake-holder contextual ambidextrous dynamic capabilities can leverage the organisational authenticity learning process in cross-functional management to explore and exploit new competitive advantage scopes. Specifically, this research proposes a theoretically synchronised conceptual framework that focuses on identified key attributes of the knowledge streams, interlinking their individual and combined influences on brand positioning and corporate reputation for the creation of competitive advantage. Scholarly and empirical implications are also presented along with future research avenues.
Article
Purpose This literature review paper attempts to discuss and present one’s current knowledge on the wide spectrum of stakeholder relationship management, to highlight future research opportunities. Design/methodology/approach The research is based on a literature review methodology involving different streams of research. Findings Diverse and distinct sections concerning stakeholder relationship management with specific regard to corporate governance and CSR, entrepreneurship and open innovation/open social innovation are discussed. Originality/value The paper presents future research opportunities concerning the wide spectrum of stakeholder relationship management.
Article
Purpose The purpose of this paper is to investigate the irrevocable role of cause-related marketing (CRM) and its research imperative, exploring its contemporary insights in and across international markets, toward scholarly and executive application. Design/methodology/approach This research is theoretical and it compiles and interrelates, in a multiperspective fashion, significant extant works in the field; focusing on how established and emergent variables and constructs can be leveraged, in order to develop insights into what does and does not work in international CRM. Findings Extant works on international CRM still present significant gaps pertaining to key questions. Furthermore, true understanding of CRM stems from comprehending consumers, both individually and collectively; and both their underlying and contextual motivators, factors and forces. This calls for a multiperspective and cross-disciplinary approach to CRM to that weaves in contextual (sociocultural, etc.) elements to the equation. Research limitations/implications Limitations naturally pertain to the research's theoretical nature that requires empirical testing. Practical implications CRM offers consumers both the means and the ends of acquiring their target core value benefits, additionally or peripherally to their core purchase purpose; potentially making the difference between business/brand success and failure. Social implications Through CRM, the contemporary consumer seeks product value benefits that transcend quality and functionality (etc.), to engulf abstract and intangible values pertaining to social, ethical, self-image and self-actualization factors. Originality/value The comprehensive review, contextual elucidations and cross-disciplinary perspectives of this paper originally present the scope, depth, complexity and gaps of the subject, and pave the way for the research that still needs to ensue.
Article
Purpose Several theories have been developed trying to explain the corporate decisions on cash holdings. Stakeholder theory is one of the arguments that urge firms with strong stakeholder relationships to hold more cash. The purpose of this paper is to shed further light on this issue by examining the impact of cash holdings on the financial performance and viability of Greek Small-Medium Enterprises before and after the Greek sovereign debt crisis. Design/methodology/approach The authors collected a large sample from Small-Medium-sized Enterprises (SMEs) and a comparable sample from large firms operating in Greece during the period 2003–2016. Panel regression analysis was performed before and after the Greek debt crisis. Findings Results indicated that cash holdings contribute positively to the profitability and viability of firms validating the precautionary theory of cash holdings in Greece. Before the crisis, SMEs and large firms both benefited significantly by cash holdings but after the crisis that positive impact of cash is more evident and significant for SMEs. Practical implications These findings corroborate the hypotheses that during a period of limited lending (and severe financial turmoil); cash holdings (and effective cash management) could be a vital tool for sustaining SMEs’ viability and financial performance. This study offers useful managerial implications and contributes to the ongoing debate about the impact of cash holdings on corporate performance. Originality/value This is the first study in the Greek business setting trying to examine the impact of cash holdings on financial performance within stakeholder-oriented firms during a period of financial turmoil.
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A pragmatic " holy grail " of organizational aspirations, ambidexterity is increasingly gaining the attention of executives and scholars alike, presenting them with a frame of thought and a functional strategic attitude that befi ts the perplexing nature of contemporary business contexts. Aiming to cover one of the most noticeable gaps in knowledge on the subject, this exploratory research studies the evolutionary process of a divisional multi-business-unit organization to an ambidextrous one. We thus identify the determinants of a successful evolution and propose an executive-oriented comprehensive model towards divisionalized ambidexterity. In this context, we answer critical questions relating to the relative weight of innovation within multiunit business ambidexterity, the requisite means and aims of the structural and contextual determinants of success, and the role of top management. We conclude that there is a strategic need for balance between internal and external congruence; and that multiunit integration must be such as to achieve an internal solidifi cation of systems and processes, as well as external adaptability and market fl exibility; all within an incessantly changing and unpredictable business environment. The value of the research to human resource management knowledge lies in its focus on multiunit business ambidextrous evolution; and in its consequential scientifi cally founded practical eluci-dations of executive worth. Equally importantly, though, the fi ndings transcend theoretical constrictions to provide an in-context business perspective through a comprehensive system that considers also strategic and environmental realities.
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Purpose – Effectively managing the cultural environment is an important stepping stone towards international business success. Cultural problems, especially between partners coming from diametrically different cultural categories represent one of the key challenges of knowledge management in international business co‐operations. The purpose of this paper is to investigate the influence of controversial cultural attitudes on collaboration and the use of most diverse knowledge capital of employees being regarded as a key resource for innovation and competitive advantage. Design/methodology/approach – Based on a comprehensive literature review, the very extensive data collection phase, applying the case study method, was carried out over a 13 month period. It mainly consisted of in‐depth interviews requiring 23 of them to reach theoretical saturation, non‐participant and participant observation (seven), focus groups (four) and fieldtrip notes in two culturally diverse Russian and Austrian research settings. Theoretical sampling was used to select the participants. The grounded theory method of constant comparative analysis was used to analyze the gathered data. Findings – The attitude towards sharing the precious resource of diverse employees' knowledge regarded as a prerequisite to international business success is influenced by national cultures. Protective attitudes for knowledge sharing limit the growth of humans' and the company's development. This paper suggests that providing the appropriate knowledge management tools and environment, especially referring to the soft aspects of emotions, will enhance and even change former institutionalised and ingrained patterns of behaviours. Therefore, the paper sheds light on the knowledge sharing contingency depending more on a social‐cognitive state rather than a static hierarchical status. Originality/value – The paper poses two innovative organizational memory conceptualizations based on respondents' needs and demands entailing a synthesis of knowledge management and interpersonal interactions to achieve the highest level of efficiency and high degrees of knowledge sharing and absorption. It bridges the gap of purely knowledge based and unemotional management tools towards a lively and engaging tool. This would appear to be the first time that an investigation of this type has been conducted explaining culturally influenced factors of knowledge management in Eastern and Western European co‐operations.
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Transcending the norms of conventional strategic marketing practices, businesses increasingly turn to new and/or alternative methods to increase their competitiveness, all within a globalised and harsh environment characterised by hyper-competition and incessant change, both at the business and the consumer ends. In this context, this research finds that Marketing Public Relations (MPR) offers organisations an effective means to the same end that is both economically and practically viable in the majority of cases. Moreover this research conceptually develops its empirical findings to construct a consumer focused MPR framework in the strategic marketing context, based on contemporary consumer and strategic theory. Responding to the lack of sufficient data related to MPR, in spite of its growing popularity, this research starts with an extensive literature review on the subject. It subsequently undertakes an empirical investigation within the Adverting and Public Relations agencies sector in Cyprus, underlining the emphasis practitioners place on MPR for its effectiveness, but also for its economic efficiency in achieving, primarily, marketing objectives, such as launching new products in the market, repositioning brands, building brand reputation and increasing sales. The methodology employed the multiple-case study method, through in-depth personal interviews and secondary data analysis on the approaches, perceptions and practices of 13 advertising and public relations agencies out of a total of 37 agencies that are currently members of the Cyprus Advertising Agencies Association. The empirical results show that advertising is losing ground to its old 'rival', public relations, within an advertising industry that shrank by 25% in value within a year, and with print media being the biggest loser. Looking for cheaper and more trustworthy (consumer convincing) alternatives to traditional media, advertisers and their clients increasingly turn to MPR, though professionals in the field appear hesitant to fully apply MPR, apparently due to conservatism, but also some lack of knowledge and experience. The conceptual development presents the need for MPR to 'bridge' the gap between organisational strategy and the consumer, thereby providing the interrelations and principles guiding this linkage.
Article
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Transcending the norms of conventional strategic marketing practices, businesses increasingly turn to new and/or alternative methods to increase their competitiveness, all within a globalised and harsh environment characterised by hyper-competition and incessant change, both at the business and the consumer ends. In this context, this research finds that Marketing Public Relations (MPR) offers organisations an effective means to the same end that is both economically and practically viable in the majority of cases. Moreover this research conceptually develops its empirical findings to construct a consumer focused MPR framework in the strategic marketing context, based on contemporary consumer and strategic theory. Responding to the lack of sufficient data related to MPR, in spite of its growing popularity, this research starts with an extensive literature review on the subject. It subsequently undertakes an empirical investigation within the Adverting and Public Relations agencies sector in Cyprus, underlining the emphasis practitioners place on MPR for its effectiveness, but also for its economic efficiency in achieving, primarily, marketing objectives, such as launching new products in the market, re-positioning brands, building brand reputation and increasing sales. The methodology employed the multiple-case study method, through in-depth personal interviews and secondary data analysis on the approaches, perceptions and practices of 13 advertising and public relations agencies out of a total of 37 agencies that are currently members of the Cyprus Advertising Agencies Association.
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In an incessantly altering global tourism industry, hotels are forced to develop new strategic models. Models that do not simply fit new competitive conditions, but perpetually and automatically predict and adapt to these, according to the pace and nature of change. The aim of this research is to examine related knowledge towards constructing an applicable concept for the practicing hotel industry, in the context of 'strategic reflexivity' and through a value-based analysis. The findings indicate the need for a strategic transition from current mechanistic approaches to more creative marketing notions; that are based less on traditional elements of analysis and more on the perception of value. Value is presented as being multi-directional and multi-perspective, in the sense that it is created by all stakeholders and for all stakeholders. The research finally proposes a preliminary generic value-based strategic reflexivity model for individual hotels, expanding in parallel on its key theoretical and managerial implications.
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This article responds to the lack of research on the way a new idea is transformed into a market-accepted new product. Through non-participant observation and multiple interviews, an empirical investigation within a large French telecommunications operator (OPERACOM), shows that companies should integrate an exploration activity into the innovation process. In order to facilitate its implementation by managers, the research proposes a synthesis of features, comprising the exploration axes/criteria (technology, client use and business value), the participants (clients/creative users, designers, partners), the organisational system (exploration centre, core team), the governance as well as the added value of the activity. The paper further combines theoretical findings with empirical data to identify the managerial implications of the findings, as well as additional theoretical considerations.
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To meet the demands of globalization, companies need to continually and rapidly access, absorb, and integrate ideas for innovation from around the world. Yet few innovation footprints are capable of meeting this challenge. This article introduces a model for “agile innovation” that differentiates between the need for a permanent presence in a location and the ability to access knowledge from a distance, by aligning different modes of access and integration against different types of knowledge. Adopting an agile innovation model will give companies the ability to better manage their global innovation footprint, leading to greater efficiency and effectiveness.
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Over the last few years, the wine industry has been undergoing a process of accelerated change, consequent to the constantly changing wine geography. This research aims to investigate, evaluate and analyse the degree and nature of success of the strategic process of the Campania wine firms, Italy. The research focuses on strategies implemented towards achieving sustainable competitive advantage. It is based on a survey of 180 companies, it is exploratory in nature and it follows a deductive methodological reasoning and hypothesis testing. The findings demonstrate that in the new competitive environment, Campania wine industry bears structural weaknesses as a number of enterprises are incapable to realise an optimal strategic process, with negative reflex on performance. On the other hand, in the regional context, there are also successful firms, able to develop and implement competitive strategies. This research conclusively incorporates primary, secondary and theoretical findings to provide managers with practical strategic planning directions for wine firms, both locally and internationally.
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This research aims to investigate the subject of internet marketing in the context of SMEs in the professional services sector (PSSMEs). Towards this aim an extensive literature review and secondary data research are performed that investigate and interrelate the background theories of three fields of marketing: SMEs, professional services and marketing communications, with a special focus on electronic marketing. The findings of the research ascertain the key attributes, factors and competencies concerning PSSMEs' internet marketing. Subsequently and consequently, a number of elements relating internet marketing with PSSMEs' competitiveness and strategic marketing are identified, especially in the context of PSSMEs' size (SMEs) and nature (professional services). The research finally utilises the findings to construct an 'internet marketing model for PSSMEs' towards enhanced competitiveness and internationalisation. The model provides an indispensable, comprehensive, spherical and multidimensional conceptual perspective on PSSMEs' marketing – one that is easily overlooked through the particular focusing of primary researches in the field.
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Purpose Over the last few years, the wine industry has been undergoing a process of accelerated change, consequent to the constantly changing wine geography, both from the demand and the supply sides. This research is based on the 2011 work of Rossi et al. and aims to develop a preliminary prescriptive strategic branding framework for the Campania (Italy) wine firms. Design/methodology/approach The research focuses on branding strategies and financial performance. It is based on extensive secondary data; the research is exploratory in nature, and it is a theoretical research. Findings The paper achieves four main objectives: to understand the industry's local and international competitive situation; to identify the role and potentialities of branding in competitive terms; to identify the underlying factors of consumer behavior in relation to wine branding; and to develop a preliminary prescriptive strategic branding framework for the Campania wine firms, with generic application and value. Research limitations/implications The limitations of the paper are the result of its very nature: it is a largely conceptual paper. Empirical research is therefore needed to test and validate the essentially preliminary framework developed and the (well‐based) assumptions made towards its development. Originality/value The value of the paper stems from the fact that practically no research exists on the subject and this work provides a solid and comprehensive theoretical foundation for further research to build on. Additionally, this research studies the subject but also through the identification of true underlying consumer behavior factors.
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Purpose This research aims to undertake a business theory application into the political marketing context, examine the degree and nature of its theoretical and practical compatibility, and develop a preliminary conceptual marketing communications (MCs) framework for small political parties (SPPs) in developed countries. Design/methodology/approach The paper is conceptual and incorporates and interrelates the findings of existing business marketing research as applied to the context of political marketing. Through a comprehensive literature review, it adopts a multi‐perspective analysis and interrelation of three dimensions of existing theory: the behavioural, the contextual and the operational dimension. The paper eventually bridges the fields of political and business marketing, identifies the underlying causes of voter behaviour, and distils the critical factors of SPPs' marketing communications success. Findings The research identifies a number of critical factors of SPPs' marketing communications success and four principal SPPs' marketing communications findings: an increasing association between business and political marketing, an environmental context that stimulates and nurtures a symbiotic relationship between parties and voters, a predominant association of SPPs' critical factors of success with the concept of “perception management”, and the existence of a number of discrepancies regarding the application of classical marketing theory to SPPs. Based on these findings, the research finally develops a marketing communications framework for SPPs in developed countries. Research limitations/implications While the conceptual nature of the research is a methodologically viable approach to understanding the complex interrelation of the elements involved, so early in the development of a contextually new theory, it is also its main limitation. Hence, the research considers the framework produced to be preliminary and that substantial primary research is further required to test and refine the individual framework components and to provide the necessary validity to the framework in its entirety. Originality/value The value of the paper relates to its focus on small political parties, which are largely overlooked by existing research. Additionally, the research adds considerable value to academic knowledge on the fundamental discussion on the applicability of business marketing theory to politics, also contributing an analogous political marketing framework to the existing literature.
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Purpose The purpose of the research is to utilize and expand on existing knowledge on organizational value‐based innovativeness, towards the development of the “strategic reflexivity” concept, for businesses competing in the contemporary ever‐modulating business environments. Design/methodology/approach The paper is based partly on primary qualitative research and partly on theoretical research. The former consists of a six month long in‐house observation and data gathering of a large company (OPERACOM Group) innovation process and on 45 semi‐directive interviews of practitioners and experts. Findings The findings descriptively portray the varying competitive conditions as intolerant of conventional strategic marketing planning; and unable to sustain any lasting competitive advantage. Prescriptively, the research proposes a change of strategic philosophy and practice, through a shift from orthodox planning to the design of value‐based reflexive mechanisms that automatically adapt to change. The paper finally presents a preliminary model for the proposed strategic reflexivity process. Research limitations/implications The paper, though scientific, it is in parallel a conceptual one. The “strategic reflexivity” concept and its consequent model therefore, are presented, not as a definitive answer to the concerns of contemporary businesses; but rather as a scientifically‐based proposition towards further practical and scholarly development. Originality/value The research value rests on a tripod of original contributions: it adds to the voices calling executives to give up on conventional tactical strategic means, counter‐proposing strategic redevelopment that is explicitly value‐based; it identifies the value‐based innovational elements deemed critical in the strategic redevelopment of businesses in hypercompetitive environments; and it develops the “strategic reflexivity” concept and process within the above context towards theoretical development and practical implementation.
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Previous studies of the socialization of trainee accountants put emphasis on how disciplinary power mechanisms shape their professional identities. Literature on the ongoing growth and commercialization of the Big 4 Accounting Firms suggests that senior employees, and especially partners, have to be understood as entrepreneurially minded agents. These two bodies of knowledge provide the theoretical vantage point for our empirical analysis of the “missing link” between trainee and partner – the manager. Based on an ethnographic study of a Big 4 Firm (pseudonym Sky Accounting), we suggest understanding the career step of the manager as a rite of passage that has two effects: first, managers experience that their previous identity is destabilized; and second, our study shows how a set of new practices (performing, playing games and politicking) shape the identity of managers, enabling them to navigate the complex organizational network of a Big 4 Firm. We conclude our paper with a discussion of power effects of the rite of passage, how it shapes the identity of managers, and the practice of managerial work in a Big 4 Accounting Firm.
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Executives make few moves more critical than their decisions about which technology-infrastructure investments will promote future strategic agility. To pinpoint best practices, three IT experts marshaled 10 years of data from 89 leading enterprises. One finding was that when companies describe their IT-infrastructure capabilities as services instead of equipment (say, the provision of a fully maintained laptop computer with access to all company systems and the Internet), they do a better job of putting a value on what they are buying. Understanding the 70 IT-infrastructure services that emerge consistently from the research can help executives identify which investments will make sense for which strategic business initiative. And understanding whether the contemplated initiative is supply-side, internally focused or demand-side can help managers decide whether to make the infrastructure investment on a business-unit level or enterprisewide. The authors find that leading companies are making regular, systematic, modular and targeted IT-infrastructure investments on the basis of over-all strategic direction. If other companies can learn to recognize which IT-infrastructure capabilities are needed for which kinds of initiatives, they can have some assurance that the investments they make today will serve the strategies of tomorrow. Copyright © Massachusetts Institute of Technology, 2002. All rights reserved.
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The purpose of this exploratory study is to provide an understanding of the role of the family in the new product development (NPD) process of small family businesses (SFBs). The impact of the family on the business and innovation activities happens through a combination of social interaction, networks, family business corporate identity, family goals, dynamics, values, culture and heritage that act on the company in several forms of behaviour, actions, decisions and plans, as suggested by Kansikas. Through a conceptual analysis and four case studies the research attempts to conceptualise the impact of the family on SFBs’ NPD processes. The objective is to empirically analyse small firms’ family pressure in the context of the NPD operations. Theory has been explored in three areas; the first one regards the specific features offamily firms and the impact of the ‘family’ on the business, the second one the activities composing the NPD process, and the third one the NPD and innovation in the specific context of family businesses. The gathered empirical data are analysed by exploring and comparing the understanding of theoretical concepts with qualitative data from the small family firms’ innovation processes.
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This article responds to the identified considerations and gaps in existing research on the way a new idea is transformed into a market-accepted new product. Utilizing the findings of an extensive theoretical analysis and empirical investigation on the subject, this research studies new product development within a wider strategic marketing context. The research interrelates three different perspectives: the process-defining perspective, that identifies and refines the managerial implications and theoretical considerations; the value-defining perspective, which investigates the various types and stakeholders of value; and the context-defining (contemporary consumer behavior and strategic marketing) perspective, which positions the entire innovation process within the comprehensive set of environmental and organizational processes and factors. The article concludes with the development of a preliminary Contemporary Strategic Framework for New Product Development. The framework answers the various theoretical considerations on the subject, incorporating the various processes’ stages and interrelationships within a single descriptive system. In addition, it provides constructive functional managerial value through potential practical implementation and prescriptive interpretation.
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In this research, the authors examine the phenomenon of escalation bias in the context of managing new product introductions. In particular, they identify three general paths—Decision Involvement Inertia, Decision Involvement Distortion, and Belief Inertia Distortion—that can lead managers to escalate their commitments. The authors test the relative strength of these paths in driving observed escalation behavior. The results show that involvement with the initial decision, a key construct in numerous explanations for escalation behavior (e.g., agency theory, self-justification), is not a necessary condition to induce commitment to a losing course of action (i.e., escalation bias). Rather, the authors find that the driving force behind escalation behavior is improper use of initial positive beliefs in the face of negative new information. This insight has implications for the groundwork necessary for organiza-tions to design systems, policies, and procedures to help them avoid the trap of escalation bias that is often asso-ciated with major strategic decisions.
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This research focuses on creating a theory of the "organizational advantage," a new concept identified within business and management. Using social capital research as a foundation for this theory, three of the study's objectives are identified: 1) incorporate different aspects of social capital to identify three common dimensions; 2) explain the role of each dimension in the process of creating and exchanging knowledge; and 3) maintain the belief that organizations are capable of creating extraordinary amounts of social capital on all three dimensions. Additionally, the relationship between social capital and intellectual capital is explored, as is the impact of this relationship upon a firm's perceived organizational advantage. In order for exchange and combination of resources to occur as a means of creating value, the research identifies three necessary conditions, including the opportunity for exchange and combination to occur, the expectation that exchange and combination generates value, and the motivation that exchange and combination in some way will be productive. This research further identifies a fourth condition, combination capability, as a significant factor in value creation. Due to social capital's influence upon the conditions needed for exchange and combination, social capital aids in the creation of intellectual capital. The research further hypothesizes that a firm's ability to create and utilize social capital contributes to performance differences among firms. Several limitations are identified, including omission of the negative impact of social capital upon a firm and the costs associated with creating and preserving a firm's social capital. The findings of the study are generalized to other institutional situations, and areas for future research are identified. (AKP)
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The appropriate resources are necessary but insufficient to achieve a competitive advantage. Resources must also be managed effectively. Herein, we develop a resource management process model composed of three components that can lead to a competitive advantage. These components include the resource inventory (evaluating, adding, and shedding), resource bundling, and resource leveraging. We examine resource management in family firms and thus explore the unique characteristics of five resources and attributes of family firms that provide potential advantages over nonfamily firms. The resources are human capital, social capital, patient capital, survivability capital, along with the governance structure attribute.
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Measurement of the process of innovation is critical for both practitioners and academics, yet the literature is characterized by a diversity of approaches, prescriptions and practices that can be confusing and contradictory. Conceptualized as a process, innovation measurement lends itself to disaggregation into a series of separate studies. The consequence of this is the absence of a holistic framework covering the range of activities required to turn ideas into useful and marketable products. We attempt to address this gap by reviewing the literature pertaining to the measurement of innovation management at the level of the firm. Drawing on a wide body of literature, we first develop a synthesized framework of the innovation management process consisting of seven categories: inputs management, knowledge management, innovation strategy, organizational culture and structure, portfolio management, project management and commercialization. Second, we populate each category of the framework with factors empirically demonstrated to be significant in the innovation process, and illustrative measures to map the territory of innovation management measurement. The review makes two important contributions. First, it takes the difficult step of incorporating a vastly diverse literature into a single framework. Second, it provides a framework against which managers can evaluate their own innovation activity, explore the extent to which their organization is nominally innovative or whether or not innovation is embedded throughout their organization, and identify areas for improvement.
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For a solution to the family business definition dilemma, we propose the application of a scale that assesses the extent and the quality of family influence via the measurement of three dimensions: Power, Experience, and Culture. The Family Influence on Power, Experience, and Culture (F-PEC) scale is tested rigorously, utilizing a sample of more than 1,000 randomly selected companies, through the application of exploratory and confirmatory factor analytic techniques. The scale demonstrates high levels of reliability. F-PEC has been applied in a number of studies, contributing to theory development, particularly in terms of the impact of family influence on distinct resources, and as a source of competitive advantage.
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This paper focuses on dynamic capabilities and, more generally, the resource‐based view of the firm. We argue that dynamic capabilities are a set of specific and identifiable processes such as product development, strategic decision making, and alliancing. They are neither vague nor tautological. Although dynamic capabilities are idiosyncratic in their details and path dependent in their emergence, they have significant commonalities across firms (popularly termed ‘best practice’). This suggests that they are more homogeneous, fungible, equifinal, and substitutable than is usually assumed. In moderately dynamic markets, dynamic capabilities resemble the traditional conception of routines. They are detailed, analytic, stable processes with predictable outcomes. In contrast, in high‐velocity markets, they are simple, highly experiential and fragile processes with unpredictable outcomes. Finally, well‐known learning mechanisms guide the evolution of dynamic capabilities. In moderately dynamic markets, the evolutionary emphasis is on variation. In high‐velocity markets, it is on selection. At the level of RBV, we conclude that traditional RBV misidentifies the locus of long‐term competitive advantage in dynamic markets, overemphasizes the strategic logic of leverage, and reaches a boundary condition in high‐velocity markets. Copyright © 2000 John Wiley & Sons, Ltd.
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The second edition of International Business features 10 new in-depth case studies specially created for this edition. For undergraduate students majoring in international business or post-graduate courses in international business
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Social innovation is emerging as a dominant discourse, especially in facing the issues posed by the current crisis. Due to its close link with the local area in which it takes place, social innovation is deeply rooted in the overall system, thus involving many different actors. These parties should work synergistically to support social innovation and this requires a connecting intermediary: the innovation catalyst. However, in spite of the existence of this kind of actor its role still hasn’t been formally included among the existing models of social innovation. To fill this gap, our work has been carried out by focusing on TrentoRise, an Italian innovation catalyst. Its aim is to understand the role that an innovation catalyst covers and its key features.
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International Family Enterprise Research Academy (IFERA) collected some numbers about family businesses to confirm what several experts in the field have always claimed: that family businesses dominate most economies around the world. IFERA asked over 60 researchers and professionals dealing with family businesses in various countries to get a numerical/statistical confirmation of this hypothesis. The results confirm the leading role of family businesses in worldwide economic production and employment.
Article
Scholars of the theory of the firm have begun to emphasize the sources and conditions of what has been described as “the organizational advantage,” rather than focus on the causes and consequences of market failure. Typically, researchers see such organizational advantage as accruing from the particular capabilities organizations have for creating and sharing knowledge. In this article we seek to contribute to this body of work by developing the following arguments: (1) social capital facilitates the creation of new intellectual capital; (2) organizations, as institutional settings, are conducive to the development of high levels of social capital; and (3) it is because of their more dense social capital that firms, within certain limits, have an advantage over markets in creating and sharing intellectual capital. We present a model that incorporates this overall argument in the form of a series of hypothesized relationships between different dimensions of social capital and the main mechanisms and processes necessary for the creation of intellectual capital.
Conference Paper
This paper focuses on dynamic capabilities and, more generally, the resource-based view of the firm. We argue that dynamic capabilities are a set of specific and identifiable processes such as product development, strategic decision making, and alliancing. They are neither vague nor tautological. Although dynamic capabilities are idiosyncratic in their details and path dependent in their emergence, they have significant commonalities across firms (popularly termed 'best practice'). This suggests that they are more homogeneous, fungible, equifinal and substitutable than is usually assumed. In moderately dynamic markets, dynamic capabilities resemble the traditional conception of routines. They are detailed, analytic stable processes with predictable outcomes. In contrast, in high-velocity markets, they are simple, highly experiential and fragile processes with unpredictable outcomes. Finally, well-known learning mechanisms guide the evolution of dynamic capabilities. In moderately dynamic markets, the evolutionary emphasis is on variation. In high-velocity markets, it is on selection. At the level of REV, we conclude that traditional REV misidentifies the locus of long-term competitive advantage in dynamic markers, overemphasizes the strategic logic of leverage, and reaches a boundary condition in high-velocity markets. Copyright (C) 2000 John Wiley & Sons, Ltd.
Book
Renowned international experts Peter B. Smith, Mark F. Peterson, and David C. Thomas, editors of the The Handbook of Cross-Cultural Management, have drawn together scholars in the field of management from around the world to contribute vital information from their cross-national studies to this innovative, comprehensive tome. Chapters explore links between people and organizations, providing useful cultural perspectives on the most significant topics in the field of organizational behavior—such as motivation, human resource management, and leadership —and answering many of the field’s most controversial methodological questions. Key Features Presents innovative perspectives on the cultural context of organizations: In addition to straightforward coverage of structures and processes, this Handbook addresses locally distinctive, indigenous views of organizational processes from around the world and considers the interplay of climate and wealth when analyzing how organizations operate. Offers an integrated theoretical framework: At the start of each substantive section, the Editors provide context for theupcoming chapters by discussing how prevalent cultures in different parts of the world place emphasis on particular aspects of organizational processes and outcomes. Boasts a global group of contributing scholars: This Handbook features contributing authors from around the world who represent an outstanding mix of respected, long-standing scholars in cross-cultural management as well as newer names already impacting the literature. Provides an authoritative agenda for the future development of the field: All chapters conclude with a list of promising avenues for further research and a focus on issues that remain unresolved.Intended AudienceThis Handbook is an ideal resource for researchers, instructors, professionals, and graduate students in fields of business, management, and psychology.
Article
Despite the rapid increased of attention given to new product development (NPD), development project failure rate is still very high. Many companies develop interesting products, but only those firms that are effective in developing products that meet customer needs and efficient in allocating their development resources will succeed in the long run. Strategies are developed to improve the process of NPD. The strategies receive great attention in both managerial and academic areas. As innovation is rapidly producing new products, research into the NPD process is also gaining interests, producing new methods of configuring and managing development projects.
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It is generally accepted that a family's involvement in the business makes the family business unique; but the literature continues to have difficulty defining the family business. We argue for a distinction between theoretical and operational definitions. A theoretical definition must identify the esence that distinguishes the family business from other businesses. It is the standard against which operational definitions must be measured. We propose a theoretical definition based on behavior as the essence of a family business. Our conceptual analysis shows that most of the operational definitions based on the components of family involvement overlap with our theoretical definition. Our empirical results suggest, however, that the components of family involvement typically used in operational definitions are weak predictors of intentions and, therefore, are not always reliable for distinguishing family businesses from non-family ones.
Article
Purpose – This paper aims to synthesize the literature on embeddedness of MNE subsidiaries, rethinking the concept of “multiple embeddedness” in order to clarify the importance of the subsidiary-specific advantages. Design/methodology/approach – A new and innovative framework based on four key relationships: home country-specific advantages (CSAs)-Headquarters (HQ); HQ-subsidiary; subsidiary-host CSAs; and subsidiary-HQ. This framework is used to discuss the complex phenomenon of “multiple embeddedness”. Findings – The framework proposed sheds light on the subsidiary's need to develop and sustain over time its subsidiary-specific advantages (SSAs) and, where possible, to “upgrade” these SSAs and to integrate them across the entire network of the MNE. The framework is based on two pillars. The first one is the “creation and development” of firm-specific advantages (FSAs) (in the home country) and SSAs (in the host country); the second one is the “transfer” of these advantages from the parent to the subsidiary and vice versa. In addition, several interesting interrelations are found between the four main relationships, and the central role of the recombination capabilities and the importance of distance are highlighted. Originality/value – This paper is one of the first to develop a framework incorporating all the relevant relationships in multiple embeddedness. The framework is innovative and “embeddedness” is analyzed in a novel way, as many studies only partially analyze this complex phenomenon and neglect one or more of these relationships.