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Strategic Adaption (Capabilities) and the Responsiveness to COVID-19’s Business Environmental Threats

In: Essentials on Dynamic Capabilities for a Contemporary World

Author

Listed:
  • Christoffer Hansson

    (Niels Brock Copenhagen Business College (NBCBC))

  • Bruno F. Abrantes

    (Niels Brock Copenhagen Business College (NBCBC)
    ISCTE University Institute of Lisbon)

Abstract

In 2020, the world faced one of the most unpredictable events in recent history, that is, the COVID-19 outbreak. This chapter instrumentalizes this phenomenon, aiming to understand how contemporary organizations strategize in order to prepare and accommodate unpredictable external business environment (EBE) events such as the COVID-19 pandemic or other/s alike. A theoretical revision within Strategic Management theory delves into the subfields of Strategic Adaptability, Strategic Agility, Strategic Flexibility, and Strategic Innovation. With a holistic multi-case study approach, one uses semi-structured interviews with Scandinavian organizations within the software industry to grasp the organizational responsive-initiatives to the EBE constraints and its impact on their performance during and on a post-pandemic period. Through a thematic analysis, the interviews followed an axial coding model to find overarching patterns (sense-making) from the original data outcomes. The results demonstrated that organizations are far from an optimal point of timely responsiveness. However, those who built adaption capabilities by experience (or exposure) were the ones that were immersed in the problem and developed the necessary heuristics, thus, a strategic adaptation process. Those firms hold in common a renewed bundle of capabilities and a subsequent enhanced market response with higher strategic fitness than other organizations.

Suggested Citation

  • Christoffer Hansson & Bruno F. Abrantes, 2023. "Strategic Adaption (Capabilities) and the Responsiveness to COVID-19’s Business Environmental Threats," Studies on Entrepreneurship, Structural Change and Industrial Dynamics, in: Bruno F. Abrantes & Jesper Lind Madsen (ed.), Essentials on Dynamic Capabilities for a Contemporary World, pages 1-23, Springer.
    • Handle: RePEc:spr:seschp:978-3-031-34814-3_1
    DOI: 10.1007/978-3-031-34814-3_1
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