An effectual approach to executing dynamic capabilities under unexpected uncertainty

Mero, Joel; Haapio, Hannele

doi:10.1016/j.indmarman.2022.09.021

Cited by 20 publications

(10 citation statements)

References 61 publications

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“…Incorporating organisational crisis/disaster management is one of the most important elements in bringing self-sustainability in businesses via keeping agility on the top of strategic vision [ 14 , 53 , 54 ]. Organisational agility and flexibility in decision marking [ 55 – 57 ] become more important to empower individuals, and businesses to innovate, satisfy the changing needs of the customers and swiftly adapt to business fluctuation [ 58 – 61 ].…”

Section: Discussionmentioning

confidence: 99%

Using Artificial Intelligence (AI) to predict organizational agility

Shafiabady,

Hadjinicolaou,

Din

et al. 2023

PLoS ONE

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Since the pandemic organizations have been required to build agility to manage risks, stakeholder engagement, improve capabilities and maturity levels to deliver on strategy. Not only is there a requirement to improve performance, a focus on employee engagement and increased use of technology have surfaced as important factors to remain competitive in the new world. Consideration of the strategic horizon, strategic foresight and support structures is required to manage critical factors for the formulation, execution and transformation of strategy. Strategic foresight and Artificial Intelligence modelling are ways to predict an organizations future agility and potential through modelling of attributes, characteristics, practices, support structures, maturity levels and other aspects of future change. The application of this can support the development of required new competencies, skills and capabilities, use of tools and develop a culture of adaptation to improve engagement and performance to successfully deliver on strategy. In this paper we apply an Artificial Intelligence model to predict an organizations level of future agility that can be used to proactively make changes to support improving the level of agility. We also explore the barriers and benefits of improved organizational agility. The research data was collected from 44 respondents in public and private Australian industry sectors. These research findings together with findings from previous studies identify practices and characteristics that contribute to organizational agility for success. This paper contributes to the ongoing discourse of these principles, practices, attributes and characteristics that will help overcome some of the barriers for organizations with limited resources to build a framework and culture of agility to deliver on strategy in a changing world.

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Section: Discussionmentioning

confidence: 99%

Using Artificial Intelligence (AI) to predict organizational agility

Shafiabady,

Hadjinicolaou,

Din

et al. 2023

PLoS ONE

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“…According to Čirjevskis (2021), organizations require key capabilities in order to remain competitive. These capabilities define how well innovation is done and the extent to which such innovations contribute to the overall competitiveness (Mero & Haapio, 2022). Dynamic Capabilities are the firm's ability to integrate, build, and reconfigure internal and external resources/competences to address and shape rapidly changing business environments and are critical to superior competitive advantage (Roundy & Fayard, 2019).…”

Section: Dynamic Capabilities Theorymentioning

confidence: 99%

“…These are the general knowhow that stipulate the ability of the employees in an organization to be innovative and effectively solve emerging problems. According to Mero and Haapio (2022), dynamic capabilities define how innovation is done and its ability to contribute to firm competitiveness.…”

Section: Dynamic Capabilities Theorymentioning

confidence: 99%

Innovation Strategies and Competitive Advantage of Insurance Firms in Kenya

Kisuya

Kihara²,

Macheru³

2023

JBSM

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Purpose: The main focus of the study was to establish effect of innovation strategies on competitive advantage of insurance firms in Kenya. The study was anchored on McKinsey 7S Framework, Transaction Cost Innovation Theory, Porter’s 5 Forces Model and Dynamic Capabilities theory, and it sought to establish the effect of product innovation strategy, process innovation strategy and marketing innovation strategy on competitive advantage of insurance firms in Kenya. In addition, the moderating effect of regulatory environment on the relationship between innovation strategy and competitive advantage of insurance firms in Kenya was tested given the importance of the regulator. Methodology: The study used a cross sectional survey design where all the 55 insurance firms operating in Kenya and were targeted. Through purposive sampling, the study targeted employees in management positions, either from administration, sales and marketing, strategic division or Finance department. Both primary and secondary data was used to achieve the study objectives where they were used to establish trends, descriptive and inferential statistics. Specifically, correlation and regression analysis were conducted to test empirically the relationship between the study variables. The study results were presented in form of Tables and Figures. Findings: The findings revealed that product innovation strategy had a significant and positive influence on the competitive advantage of insurance industry in Kenya. Process innovation was also found to positively and significantly contribute to the competitive advantage of insurance industry in Kenya. The findings further revealed that marketing innovation was essential in enhancing the competitive advantage of insurance industry in Kenya. Regulatory framework was found to significantly moderate the relationship between innovation strategies and competitive advantage of insurance industry in Kenya. The study concluded that innovation strategies (product innovation, process innovation and marketing innovation) are essential in determining the competitive advantage of insurance industry in Kenya. Unique Contributions to theory, practice and policy: It is therefore recommended that the management of the insurance companies ought to uphold innovation strategy through marketing innovation, product innovation and process innovation so as to stimulate the competitive advantage of their respective insurance companies. The regulatory body, IRA, ought to set a clear framework on policies and regulations that govern insurance innovations so as to set a level ground for the companies to embrace innovation and enhance their competitive advantage.

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“…Enterprises should have a high degree of environmental insight to discover and identify market opportunities, timely change or transfer strategy, in order to obtain a sustainable competitive advantage to adapt to the development of the dynamic environment. Sensing capability is important for the growth performance of enterprises (Herbert, 2020 [35]; Joel M, Hannele H, 2022 [36]). Alshanty and Emeagwali (2019, [37]) found a positive effect of sensing capability on knowledge creation, and firm innovation in small-and medium-sized enterprises.…”

Section: Network Structure Attributes Sensing Capability and Enterpri...mentioning

confidence: 99%

“…The results show that sensing capability can significantly improve the competitive advantage of enterprises. Joel M., Hannele H., 2022 [36] demonstrated a strong reliance on managers' effectual decision making in situations of unexpected uncertainty and sensing capability. Alshanty (2019 [37]) illustrated a positive effect of sensing capability on knowledge creation and firm innovation.…”

Section: Relationship Between Sensing Capability and Lsi Growthmentioning

confidence: 99%

The Effects of Network Structure Attributes on Growth Performance of Logistics Service Integrators in Logistics Service Supply Chain: Empirical Evidence

2022

Sustainability

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The purpose of this paper is to investigate the relationship between network structure attributes, sensing capability and growth performance of logistics service integrators for logistics service supply chain. Using survey research of logistics service integrators from China, through empirical analysis, this paper finds the following conclusions. Network structure attributes can affect logistics service integrators growth performance directly or indirectly through sensing capability: ① network size and centricity affect the growth performance by promoting sensing capability; ② heterogeneity can directly affect LSI growth performance; and ③ heterogeneity can affect growth performance indirectly. The network scope does not affect sensing capability and growth performance of logistics service integrators.

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An effectual approach to executing dynamic capabilities under unexpected uncertainty

Cited by 20 publications

References 61 publications

Using Artificial Intelligence (AI) to predict organizational agility

Using Artificial Intelligence (AI) to predict organizational agility

Innovation Strategies and Competitive Advantage of Insurance Firms in Kenya

The Effects of Network Structure Attributes on Growth Performance of Logistics Service Integrators in Logistics Service Supply Chain: Empirical Evidence

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