The objective of this paper was to present a dynamic resource orchestration framework as a source of organizational resilience through blended orchestration of the firm's dynamic and static resources to generate sustained value during disruptive shocks. We adopted an integrative literature review methodology and proposed a dynamic resource orchestration framework as a managerial option to create and sustain firm value. Conceptually, a dynamic resource orchestration framework was presented as the integration of firm resources and managerial capability. We proposed dynamic resource orchestration as a model input impacting organizational resilience through the combined effects of resource accumulation, resource orchestration, and managerial capabilities. Through a thorough examination of the literature production anchored on dynamic capabilities framework and organizational resilience, we advanced a perspective that the ultimate source of combined firm resilience and sustainable competitive advantage does not necessarily accrue from the resources at a firm's disposal but by how management dynamically blends and orchestrates the existing resources, thereby creating an optimal source of capability. Our proposed conceptualization was based on the assumption that dynamic capabilities are part of firm resources and, therefore, strategic orchestration of dynamic capabilities leads to superior firm resourcefulness and consequential sustained resilience. We identified gaps and proposed directions for future research.
The financial system in any country plays a critical role in facilitating payment and providing policy and performance anchors to the economy. Therefore, systemic financial distress manifests in industry-level financial distress by front-hitting the financial system first. Financial organizations’ failure triggers a domino effect on the whole ecosystem, and therefore financial institutions enjoy various layers of protection when their operations show signs of distress. Several financial industry players worldwide have experienced financial distress in one form or another during episodes of systemic crisis such as the 2008 international financial crisis. Although the distress might not have necessarily led to bankruptcy or liquidation in some cases, it left several questions unanswered, particularly with respect to a leadership role, ecosystem contingencies, and the recovery mechanism. This study scanned recent extant literature on organizational financial distress and identified essential gaps for future research. The study provided a holistic review of antecedents, outcomes, and intra-industry characteristics of financial distress. The study found that the leadership role as an orchestrative agent in an organizational ecosystem has not been adequately addressed in the extant literature. The study contributes to the literature by clarifying leadership aspects of systemic financial distress by placing leadership within the core of the financial ecosystem before, during, and after distress. Outcomes and recommendations for future research are proposed.
Dynamic Capabilities View (DCV) has an illustrious history of having dominated strategic management thinking for more than two decades now (Bleady et al., 2018). However, its pillars have since begun to quake in the wake of growing cataclysmic episodes, which have made it the subject of intense scrutiny by the scholarly community. The DCV view typifies adaptive properties as strategic agility, whose essence is value creation through innovative products and novel business models instead of incremental improvement of existing models and products (Wójcik, 2015). It is instructive to note that the DCV evolved from the Resource-Based View's (RBV's) notion of Valuable, Rare, Inimitable and Non-substitutable (VRIN) resources, signaling that theory development in the strategic management space is an infinite evolutionary process characterised by continuous shifts in conceptualisation (Bleady et al., 2018; Schilke et al., 2018). However, the thinking that informed the development of DCV is increasingly being challenged by the growing realisation that every competitive advantage has a shelf-life (Wójcik, 2015). A defense of DCV is nonetheless offered by Helfat et al. (2009), who argue that fast-paced environments are not necessarily always disruptive, and as such, the continued currency of DCV cannot be downplayed.
This study aimed to test the effect of leadership strategy on the organisational resilience of banks listed on the Nairobi Stock Exchange. The study was anchored on Full-Range Leadership Theory (FRLT) complementarily with meta-leadership as relevant theoretical lenses. The study sampled 277 respondents holding senior managerial positions such as Chief Risk Officers, Managing Directors, Directors of Strategy, Internal Auditors, Heads of Marketing, Heads of Operations and Branch Managers. Data was collected using a self-administered Likert-type online questionnaire. Structural equations modelling was employed for statistical analysis. Partial Least Squares was performed with SmartPLS 3. Results showed that the relationship between leadership strategy and organisational resilience was statistically significant at t-value of 31.665 (p<0.05), with leadership strategy explaining 68.5% of the variance in the organisational resilience of listed banks in Kenya (R2=0.685). The study concluded that leadership strategy significantly predicted bank resilience. The study has affirmed leadership strategy as a novel theoretical concept for explaining organisational resilience to systemic disruptive shocks. Multiple future research directions are proposed. This study advanced leadership strategy as a distinct paradigm in leadership thinking by examining its predictive power on organisational resilience by using systemic disruptive shocks as testing grounds within the context of Kenya’s banking sector.
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