Adaptive Strategies in Response to the Economic Crisis: A Cross-Cultural Study in Austria and Slovenia
This study builds on prior research on culture-specific differences in strategic decision-making and strategic issue analysis, and extends it to the field of strategic crisis adaptation. Taking an upper echelons perspective, it is investigated whether the cultural dimension of uncertainty avoidance had an effect on strategic directions that managers chose in response to the 2008–2009 global financial and economic crisis. Building on a framework of strategic crisis responses and a quantitative survey conducted among 257 managers in Austria and Slovenia, the findings suggest that strategic issue interpretations of the economic crisis as well as country differences influence whether firms are using externally versus internally-directed strategic responses, and pro-active versus retrenchment strategies. The differences in strategy deployment between the two countries, however, could not be consistently traced to differences in the cultural dimension of uncertainty avoidance, thus suggesting that other country-specific factors like institutional or social differences also play an important role.
Volume (Year): 10 (2012)
Issue (Month): 3 (Fall) ()
|Contact details of provider:|| Postal: |
Phone: 05 610 20 00
Fax: 05 610 20 15
Web page: http://www.mgt.fm-kp.si
More information through EDIRC
|Order Information:|| Web: http://www.mgt.fm-kp.si Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lee, Seung-Hyun & Beamish, Paul W. & Lee, Ho-Uk & Park, Jong-Hun, 2009. "Strategic choice during economic crisis: Domestic market position, organizational capabilities and export flexibility," Journal of World Business, Elsevier, vol. 44(1), pages 1-15, January.
- H Kevin Steensma & Louis Marino & K Mark Weaver, 2000. "Attitudes Toward Cooperative Strategies: A Cross-Cultural Analysis of Entrepreneurs," Journal of International Business Studies, Palgrave Macmillan, vol. 31(4), pages 591-609, December.
- Pearce II, John A. & Michael, Steven C., 2006. "Strategies to prevent economic recessions from causing business failure," Business Horizons, Elsevier, vol. 49(3), pages 201-209.
- Dimitratos, Pavlos & Petrou, Andreas & Plakoyiannaki, Emmanuella & Johnson, Jeffrey E., 2011. "Strategic decision-making processes in internationalization: Does national culture of the focal firm matter?," Journal of World Business, Elsevier, vol. 46(2), pages 194-204, April.
- Jean-Fran�ois Hennart & Jorma Larimo, 1998. "The Impact of Culture on the Strategy of Multinational Enterprises: Does National Origin Affect Ownership Decisions?," Journal of International Business Studies, Palgrave Macmillan, vol. 29(3), pages 515-538, September.
- Sunil Venaik & Paul Brewer, 2010. "Avoiding uncertainty in Hofstede and GLOBE," Journal of International Business Studies, Palgrave Macmillan, vol. 41(8), pages 1294-1315, October.
- PA Geroski & P. Gregg, 1993. "Coping the Recession," National Institute Economic Review, National Institute of Economic and Social Research, vol. 146(1), pages 64-75, November.
When requesting a correction, please mention this item's handle: RePEc:mgt:youmgt:v:10:y:2012:i:3:p:257-282. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alen Jezovnik)
If references are entirely missing, you can add them using this form.