Discussion, conclusions, and outlook
The results of the study presented in this book generally support the relationship between strategic issue diagnosis and strategic action as part of the model of the strategic adaptation process presented in Figure 3.2 (section 3.6). How an economic crisi
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Dietmar Sternad
Strategic Adaptation Cross-Cultural Differences in Company Responses to an Economic Crisis
SpringerWienNewYork
Dietmar Sternad Lecturer for International Management and Program Director of the International Business Management Master’s program at Carinthia University of Applied Sciences in Villach, Austria.
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With 25 figures and 47 tables
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ISBN 978-3-7091-0454-5 SpringerWienNewYork
Contents
Figures Tables List of abbreviations
1
IX XI XIII
Introduction: Researching strategic adaptation in a cross-cultural context
1
1.1 1.2
Cultural influences on strategic adaptation Overview of the research design
3 6
2
Strategic decision-making, the environment, and national culture: An overview of key concepts
2.1 2.2 2.3 2.4 2.5 2.6
15
2.7 2.8 2.9
Strategy content Strategy process Four perspectives on the strategic decision-making process The environment Environmental change The 2008–09 financial and economic crisis as an exemplified major environmental change Adaptation as a concept in strategic management National culture as an influencing factor on managerial decision-making Summary of the key concepts
16 17 18 21 23 24 27 30 34
3
The strategic adaptation process: a literature review
41
3.1 3.2 3.3 3.4 3.4.1 3.4.2
From environmental determinism to strategic choice Proactive versus passive adaptation Adaptability: real options and dynamic capabilities perspectives Cognitive perspectives of the strategic adaptation process Attention focus Environmental-strategy causal logic
42 43 46 49 51 52
V
Contents
3.5
3.9.1 3.9.2 3.9.3 3.10
The sense-making process Cognitive deficiencies potentially affecting the adaptation process A model of the strategic adaptation process Strategic issue diagnosis Opportunities and threats Urgency and feasibility Political behaviour and conflicts in strategic decision-making processes Politic
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