TY - JOUR
T1 - Re-examining Strategic Flexibility
T2 - A Meta-analysis of its Antecedents, Consequences and Contingencies
AU - Herhausen, Dennis
AU - Morgan, Robert E.
AU - Brozović, Danilo
AU - Volberda, Henk
PY - 2021/4
Y1 - 2021/4
N2 - Strategic flexibility (SF) is a concept that has evolved from strategy through other disciplines, including management, marketing, innovation, entrepreneurship and operations. However, despite attempts to consolidate the domain of SF, there remain theoretical and empirical tensions underlying its antecedents, the consequences and contingencies. Based on 106 independent samples reported in 98 different studies (n = 26,940 firms), we provide a meta‐analytical examination of these tensions. We highlight and resolve several disagreements regarding the enablers, inhibitors and triggers of SF, and we reveal an adjusted mean performance effect of 0.24. We further find that the measurement of SF, as well as some, but not all, dimensions of the environment, moderate the performance effect. Finally, an explorative analysis reveals that innovation outcomes and market outcomes mediate the positive relationship between SF and financial outcomes, in addition to a negative direct effect. These insights provide a comprehensive and coherent understanding of the nomological network of SF and a stronger basis for further theorizing and conducting empirical research. Moreover, our findings help firms to refine their strategy by implementing the right enablers that drive SF and to understand how and when their investment in SF pays off.
AB - Strategic flexibility (SF) is a concept that has evolved from strategy through other disciplines, including management, marketing, innovation, entrepreneurship and operations. However, despite attempts to consolidate the domain of SF, there remain theoretical and empirical tensions underlying its antecedents, the consequences and contingencies. Based on 106 independent samples reported in 98 different studies (n = 26,940 firms), we provide a meta‐analytical examination of these tensions. We highlight and resolve several disagreements regarding the enablers, inhibitors and triggers of SF, and we reveal an adjusted mean performance effect of 0.24. We further find that the measurement of SF, as well as some, but not all, dimensions of the environment, moderate the performance effect. Finally, an explorative analysis reveals that innovation outcomes and market outcomes mediate the positive relationship between SF and financial outcomes, in addition to a negative direct effect. These insights provide a comprehensive and coherent understanding of the nomological network of SF and a stronger basis for further theorizing and conducting empirical research. Moreover, our findings help firms to refine their strategy by implementing the right enablers that drive SF and to understand how and when their investment in SF pays off.
U2 - 10.1111/1467-8551.12413
DO - 10.1111/1467-8551.12413
M3 - Journal article
SN - 1045-3172
VL - 32
SP - 435
EP - 455
JO - British Journal of Management
JF - British Journal of Management
IS - 2
ER -