Journal of Business Strategy Table of Contents for Journal of Business Strategy. List of articles from the current issue, including Just Accepted (EarlyCite)
- Regenerating after a global crisis: a case study of resiliencepor Anne-Sophie Thelisson el febrero 13, 2024 a las 12:00 am
Organizational resilience, defined by a firm’s speed in reaching a dynamic equilibrium after a shock and after the shocks are absorbed, and crisis management are critical in a global crisis. The concept of resilience is increasingly used in the economic press; nevertheless, few studies demonstrate empirically how firms became resilient and the lessons to be learned from it. Traditionally, the concept of resilience is approached as resistance in the face of a crisis. The authors go further by showing three-loop learning, which is part of a logic of innovation and regeneration. This study aims to examine how a business can regenerate itself by effectively managing the external threats and disruptions caused by a crisis. Also, this study deepens knowledge on learning process. The double-loop learning process is known in the literature as enabling firms to learn from unexpected events and react accordingly. The findings point out a third loop implying the co-invention of a new business model and a collective mindfulness of changes made. Using longitudinal data, the authors investigate how the global crisis affects merger negotiations between two companies. This study analyzes the period of dialogue (negotiation) between the two entities with a view to carrying out a merger and then their withdrawal from the project during the pandemic, reshuffling the cards for each company. The negotiation period is not normally disclosed because of its highly confidential and strategic nature and it is therefore difficult for researchers to access merger operations at the negotiation stage. From this viewpoint, this case study was chosen because of the availability of generally inaccessible documentation. This in-depth case study provides new insights on organizational resilience and the recovery capacity of a firm. The results underline four main triggers that a firm should develop in facing a major crisis: skills; credits; previous and historical relationships; and corporate culture. Recovery capacity depends on reactivity, flexibility, learning and regeneration. Finally, this study points out a three-loop learning experience that can be understood as a learning process in two steps to generate lasting and adaptive changes. The limitations are those concerning a single case study. This study highlights the ability to deal with unexpected events. First, this work identifies concrete items that can be perceived by managers as elements enabling a firm to develop resilience. Second, the results show main elements enabling this capacity as reactivity – both companies react quickly and effectively to disturbances to limit the impact on their performance; or flexibility – firms adapt their business model to deal with disruptions. Third, this work underlines a learning capacity process in three steps to recover capacity. This process stimulates creativity and innovation by the teams and stakeholders by placing them at the heart of the change. This case provides a vivid illustration of firms’ adaptation to a rapidly evolving context because of a global crisis. Theoretical concepts and empirical findings from the literature are combined to present a single consistent picture.
- How luxury brands appeal to young consumers: a different focuspor Christine Ye el febrero 5, 2024 a las 12:00 am
Advances in digital technologies coupled with the shift toward sustainable consumption present promising opportunities for luxury fashion brands to engage younger consumers. To this end, this paper aims to provide a forward-looking approach to creating luxury experiences targeted toward young consumers by proposing a new experience consumption framework. This paper presents a viewpoint on creating luxury experiences that address the changing dynamics of the luxury industry by responding to the disruptive surge of young consumers and their growing preference for digital connections. The authors develop a new experience consumption framework which demonstrates how luxury brands can successfully engage young consumers and fulfill their desire to share experiences with others by leveraging sustainable participation and digital technologies. The framework identifies different sustainable and digitally immersive experiences that luxury brands can incorporate for their young consumers. This paper offers important managerial insights for luxury fashion brand marketers and identifies future research opportunities to advance knowledge in this field.
- Digital transformation: strategy comes first to lay the groundworkpor Louise B. Kringelum el enero 18, 2024 a las 12:00 am
The purpose of this paper is to contribute to the successful implementation of digitalization by exploring what characterizes strategy work undertaken by companies that have achieved digital transformation. Based on empirical data, the authors delineate five essential strategic actions that are prerequisites for digital transformation: discuss and communicate the vision and strategy; align resources and activities with the strategy; ensure a continuous focus on operational improvements and efficiency; create an orientation toward customer or user needs and expectations; and develop the competencies of top managers, middle managers and employees. Between January 2021 and February 2022, the authors conducted a survey on strategy work in Danish organizations with 2,251 respondents. The respondents encompass top managers, middle managers and employees representing 1,164 organizations. The authors identify five strategic actions that positively influence whether organizations incorporate digitalization into their strategy work. These strategic actions can support organizations in their strategy work regarding digital transformation and offer valuable insights and inspiration for leaders currently undertaking the journey of digital transformation. Based on the empirical data, it is not possible to deem one action as more important than another in the context of digital transformation, as each action contributes significantly to facilitating the process. Given the nature of empirical data, the strategic actions reflect correlation rather than causation. The empirical insights provide valuable practical guidance for leaders in managing digital transformation as a part of strategy work, which is typically discussed in a more conceptual manner. In addition, the authors identify new areas for further in-depth exploration in practice.
- Resilience and performance: capturing their synergy for ongoing successpor Jacques Bughin el noviembre 29, 2023 a las 12:00 am
Most companies struggle to meet the dual goals of sustaining competitive advantage and ensuring high resilience during crises. Those that do, research tells, adapt their operational practices along the crisis cycle, combining an effective cost approach at the start of a crisis, while quickly relaunching their investment to grow ahead of competition, just when they learn that the crisis is peaking, and not too late, when the crisis is over. This cycle alignment is possibly the crucial, but not the only, factor for success. We update early research to show that companies succeeding in this dual objective also take a proactive strategy approach of capturing the complementarities between both performance and resilience during a period of high turbulence. This complementarity relies on exploiting dynamic capabilities common to both resilience and performance, and on leveraging the resilience process as a foundation for strategic renewal going forward. The research relies on case studies, complemented by an original survey sample, collected just after the peak of the covid-19 pandemic, of 4,000 multinational firms spread across 18 industries termed NACE2, a statistical classification of economic activities in the European Community. This study included 10 countries outside the European Community. The sample collects information on five core enterprise capabilities (agility, innovativeness, active ecosystem play and digital/sustainability maturity, flexible work practices) and uses a variety of quantitative techniques to assess that existence and size of synergies captured by firms. Companies meeting the dual goal of resilience and performance are more than doubling their rate of profit growth relatively to peers, after the peak of the crisis, by leveraging of synergies between performance and resilience. The topic is essential for management, given the elevated turbulence. This research confirms that resilience and performance are synergistic and helps make companies using each crisis boost performance forward.
- Netflix: rise, fall and recoverypor Deanna Kathleen de Zilwa el noviembre 27, 2023 a las 12:00 am
Netflix is the market leader in the streaming entertainment industry. In 2020 and 2021, Netflix’s subscriber numbers and revenue increased. During the first two quarters of 2022, Netflix lost millions of subscribers, revenue and profit declined and its share price and market capitalization deteriorated. The purpose of this study is to investigate how and why a company with such a strong track record as Netflix can experience this crisis and, most importantly, how it overcame the crisis and returned to growth. This case study investigates Netflix’s rise, fall and recovery between 2020 and 2023 using qualitative research methods. It examines earnings calls, transcripts and letters to shareholders as well as the views of investment analysts, journalists and academics. Netflix turned its fortunes around because its leaders faced the crisis head-on. They acknowledged that previous strategic decisions were no longer working, that no advertisements were on the platform and that there was no account sharing and they reversed these decisions. Netflix also realized that it needed to innovate, so it partnered with Microsoft to execute its go-to-market with advertising. It also launched games, made strategic acquisitions of gaming studios and developed its capabilities with new products. This is a valuable case study. Investigating how a company as successful as Netflix can encounter a severe decline and how it changed its strategies and tactics to reverse the decline provides important lessons for other companies.