Firm Performance During Economic Crisis: The Role of Strategic Orientations and Financial Capital

Beliaeva, Tatiana; Shirokova, Galina; Гаффорова, Елена Борисовна

doi:10.21638/11701/spbu18.2017.201

Cited by 5 publications

(2 citation statements)

References 52 publications

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“…The determination coefficients vary between 12 and 23% for different models, which suggests that only a small portion of variation in dependent variables is explained by the factors considered in the models. But the values are comparable to similar studies and can be treated as adequate for the purpose of research [Beliaeva, Shirokova, Gafforova, 2017;Brunelli et al, 2023].…”

Section: Analytical Proceduressupporting

confidence: 82%

Аdaptation of business practices to the COVID-19 pandemic: Evidence from micro and small enterprises

Golovacheva,

Rutchyeva,

Smirnova

2023

RMJ

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Goal: to determine how three business model adaptation (BMA) strategies (namely, product development, market development, and diversification) influence firm profitability through the mediating mechanisms of customer behavioral loyalty and acquisition during the COVID-19 pandemic. Methodology: the study is based on a telephone survey of 210 Russian micro and small enterprises conducted in the beginning of 2022. Structural equation modeling is used to test the relationships between three BMA strategies, customer behavioral loyalty, customer acquisition, and firm profitability. Findings: three BMA strategies positively influence customer acquisition but have no effects on customer behavioral loyalty. In turn, customer behavioral loyalty and acquisition unequally contribute to firm profitability. Diversification strategy is found to be the only strategy that positively influences firm profitability during the crisis. This effect is mediated neither by customer loyalty nor customer acquisition but is supposedly achieved through the strategic choice of higher-margin destination markets. Originality and contribution of the authors: the study contributes to the literature on crisis management by examining the effects of product development, market development, and diversification strategies on firm performance in the crisis environment characterized by shrinking demand and increasing turbulence. Unlike most existing studies, the current study goes beyond testing the overall effect of BMA on firm financial performance in times of crises and uncovers customer retention and acquisition mechanisms that mediate this effect, thus reuniting strategic management and marketing areas.

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Section: Analytical Proceduressupporting

confidence: 82%

Аdaptation of business practices to the COVID-19 pandemic: Evidence from micro and small enterprises

Golovacheva,

Rutchyeva,

Smirnova

2023

RMJ

View full text Add to dashboard Cite

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“…The above discussed theoretical justifications have highlighted that certain elements may exert more value in the presence of other factors (e.g., Beliaeva, 2019; Ennen & Richter, 2010; Hakala, 2011). Drawing from these theoretical foundations, this study proposes an integrated model that develops a broader responsibility orientation in the context of small business and entrepreneurship.…”

Section: Framework Development—entrepreneurial Responsible Orientationmentioning

confidence: 99%

The Epistemology of Entrepreneurial Responsible Orientation (ERO): Theory, Conceptualization, and Future Research

Iqbal

Khizar

2022

SAGE Open

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Organizations are constantly searching for new pathways to ensure survival and sustainability in a highly dynamic and competitive environment. Against this background, the present study aims to propose a strategic framework considering the crucial role of small businesses and entrepreneurship for sustainable economic, social, and environmental development. This paper employed a selective-intensive literature review technique to review and evaluate extant sustainability orientation (SO) literature from multiple strategic orientation paradigm. In addition, drawing from the theoretical underpinnings of resource complementarity and configuration perspective, this study proposes a configuration of sustainability orientation (SO), entrepreneurial orientation (EO), and market orientation (MO) in the era of sustainable development. The key finding of this paper is the development of a higher-order dynamic capability, that is, Entrepreneurial Responsible Orientation (ERO). ERO is proposed as an entrepreneurial strategic framework that integrates three distinct but complementary elements (i.e., sustainability, entrepreneurial, and marketing) under the umbrella of strategic orientation that drives superior sustainable firm performance. Moreover, we put forward the future research agenda by developing several potential research questions, thus, the findings of this study will serve as a springboard to extend the knowledge base in this field of research. This paper provides an integrated framework in the contexts of small businesses and entrepreneurship by utilizing the combination of the theoretical and conceptual development approaches. The proposed framework, if implemented successfully, has the potential to drive sustainable performance of the small firms particularly, and sustainable development of the country, generally.

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Validation of reputation measurement methods in the post-Soviet territory

Sokolovskyy

Potapova

Tienin

2021

STMM

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Different approaches to definition of “reputation” concept and its presence in different disciplines’ discourse result in development of large number of reputation measurement approaches. The closest approaches to the sociological understanding of reputation are the RQ (CRQ) and RepTrak™ ones. These approaches were developed by western authors and have not been validated in the post-Soviet territory yet. The paper reviewed the verification of RepTrak™ methodology’s reliability and validity, and analyzed the terminological differences between the types of validity used by the authors of the methodology and their semantic counterparts, traditional for sociology. It is noted in the article that the developers of the methodology did not offer a unified model of corporate reputation; validation was carried out separately for two reputation constructs. The first construct confirms the connection between the emotional component of reputation and articulated willingness to act, the second — between the emotional and cognitive components of reputation. Using empirical data collected in Ukraine, Russia and Kazakhstan, the authors of the article reproduced the procedures and approaches used by the methodology developers for confirmation of the methodology’s reliability and validity. To this end, authors of the article used confirmatory factor analysis and built structural models that fully correspond to the models used by the developers of the model. The authors of the article compare the parameters of the models and their criteria of fitting to the empirical data. As a result of a comparison done for each reputational construct a conclusion about the possibility of using the emotional reputation index in all three countries was done. It was concluded also that it is possible to use a complete original methodology for reputation research in Ukraine and Russia and it is required to modify it for Kazakhstan.

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Firm Performance During Economic Crisis: The Role of Strategic Orientations and Financial Capital

Cited by 5 publications

References 52 publications

Аdaptation of business practices to the COVID-19 pandemic: Evidence from micro and small enterprises

Аdaptation of business practices to the COVID-19 pandemic: Evidence from micro and small enterprises

The Epistemology of Entrepreneurial Responsible Orientation (ERO): Theory, Conceptualization, and Future Research

Validation of reputation measurement methods in the post-Soviet territory

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