The pressure cooker: When crisis stimulates explorative business model change intentions

Osiyevskyy, Oleksiy; Dewald, Jim

doi:10.1016/j.lrp.2017.09.003

Cited by 47 publications

(58 citation statements)

References 73 publications

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“…However, the impact of the crisis in the external environment on particular firms is not homogenous, with firm-level peculiarities determining the degree of impact and threat (Paunov, 2012). The studies of SMEs in crisis contexts corroborate this general view about the differential effect of macro-level adversity on incumbent firms (Osiyevskyy & Dewald, 2018;Peric & Vitezic, 2016;Smallbone et al, 2012). While some SMEs find themselves in major misfit with the environment and suffer major revenue decline and losses, the other part of firms thrive amidst the adversity.…”

Section: Performance Implications Of Exploration and Exploitation Durmentioning

confidence: 64%

“…A well-developed literature on strategic adaptation suggests threat perception can be considered as a catalyst for a strategic response (e.g., Gilbert, 2005;Laskovaia, Marino, Shirokova, & Wales, 2019). Furthermore, threat rigidity theory predicts the reactions top managers have when they are faced with external threat (Osiyevskyy & Dewald, 2018;Staw et al, 1981) and suggests that decision-makers tend to employ existing schemas under threat, thereby exhibiting rigidity-inability to recognize innovative responses (Barnett & Pratt, 2000). The performance implications of such strategic behaviors depend on the firm's operating environment and in crisis contexts, defensive strategies can protect firm survival (Håkonsson, Klaas, & Carroll, 2013).…”

Section: Economic Downturn Organizational Decline and Smes Strategimentioning

confidence: 99%

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Exploration and exploitation in crisis environment: Implications for level and variability of firm performance

Osiyevskyy

Shirokova

Ritala

2020

Journal of Business Research

Self Cite

133

131

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Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre-including this research content-immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.

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Section: Performance Implications Of Exploration and Exploitation Durmentioning

confidence: 64%

Section: Economic Downturn Organizational Decline and Smes Strategimentioning

confidence: 99%

Exploration and exploitation in crisis environment: Implications for level and variability of firm performance

Osiyevskyy

Shirokova

Ritala

2020

Journal of Business Research

Self Cite

133

131

View full text Add to dashboard Cite

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“…In general, crises have a strategic impact upon entrepreneurial decision-making, since they have a major effect on the company's internal and external stakeholders (Fiksel et al, 2015;Netz et al, n.d.). In addition, during crises, the critical external threat can force entrepreneurial decision-making to concentrate on prospective losses (Osiyevskyy & Dewald, 2018). According to prospect theory, this loss framing will provide a less risk adverse decision-making that may lead to structural and organisational changes (Holmes et al, 2011;Saebi et al, 2017).…”

Section: Please Insert Table 5 Discussionmentioning

confidence: 99%

Entrepreneurial decisions in tourism and hospitality during crisis

Παππάς

Brown

2020

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PurposeThe article examines the entrepreneurial decision-making in the Greek tourism and hospitality sector during a period of an economic crisis.Design/methodology/approachThe nationwide study includes the responses of 503 entrepreneurs engaged in the Greek travel, tourism and hospitality industry. The research employs fuzzy-set Qualitative Comparative Analysis (fsQCA), and examines trust, enterprising negotiation power, tourism decision-making considerations and crisis effects. It also includes the categorical data of operational mode and company type.FindingsThe analysis has generated three different pathways for entrepreneurial decision-making during crisis in the Greek tourism and hospitality sector. These pathways are (1) crisis conditions, (2) enterprising operations and focus and (3) enterprising capabilities.Research limitations/implicationsDue to the limited employment of fsQCA in the tourism sector, its full potential is still to be explored.Practical implicationsThe study provides three different pathways that Greek tourism entrepreneurs select for their decision-making according to the characteristics of their firms and their market orientation.Originality/valueTheoretically, the study contributes by enhancing understanding of entrepreneurial decision-making during periods of crisis. In the methodological domain, the research employs fsQCA, which has only recently started to be used in tourism and hospitality, and generally the service sector.

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“…The threat rigidity thesis suggests that, ceteris paribus, organizations tend to constrain their strategic actions when faced with threatening operational environments (Staw et al, 1981). The logic is that firms begin restricting their information processing as environmental threats increase, restricting the range of options under consideration, and thereby increasing rigidity and inaction (Osiyevskyy & Dewald, 2018; Slyngstad, 2016). Research further suggests that firms in these environments emphasize capital management and conservation of resources (Chattopadhyay et al, 2001; Osiyevskyy & Dewald, 2015; Sarkar & Osiyevskyy, 2018; Shimizu, 2007), which in extreme cases leads to organizational paralysis (George et al, 2006).…”

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confidence: 99%

Entrepreneurial Orientation and Environmental Hostility: A Threat Rigidity Perspective

Kreiser

Anderson

Kuratko

et al. 2019

Entrepreneurship Theory and Practice

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We posit that environmental hostility exhibits an inverse U-shaped relationship with a firm’s entrepreneurial orientation. We suggest a nuanced perspective on the threat rigidity argument that firms generally retrench from entrepreneurial capital allocation behaviors as hostility increases. We argue that firms are likely to act opportunistically and increase EO, but only to the point where the marginal costs of such activity outweigh the marginal benefits, at which point EO drops precipitously. Analyzing 60,440 observations from 6,481 firms across 373 industries from 1998 through 2017, our results indicate that EO exhibits a generally negative relationship with environmental hostility. Further, we examine a potential moderating influence of recoverable slack on the hostility–EO relationship, arguing that recoverable slack represents a meaningful buffer on behavioral change stemming from changing environmental hostility.

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The pressure cooker: When crisis stimulates explorative business model change intentions

Cited by 47 publications

References 73 publications

Exploration and exploitation in crisis environment: Implications for level and variability of firm performance

Exploration and exploitation in crisis environment: Implications for level and variability of firm performance

Entrepreneurial decisions in tourism and hospitality during crisis

Entrepreneurial Orientation and Environmental Hostility: A Threat Rigidity Perspective

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