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A Meta Analysis of the Antecedents and Consequences of Strategic Flexibility
ISSN
0065-0668
Type
conference paper
Date Issued
2014-08-04
Author(s)
Abstract
It is axiomatic that strategic flexibility is a key success factor in generating competitive advantage. Despite this maxim, often peddled in the normative literature, empirical studies have produced inconsistent results for the strength and direction of this relationship. We synthesize these results and provide empirical support for a general, moderate, and positive effect of strategic flexibility on firm performance. Moreover, we find that strategic flexibility indirectly affects financial performance through its positive effects on innovation capability and superior market position, and that strategic flexibility has a negative direct effect on financial performance. Importantly, the meta-analytic evidence also indicates that the strategic flexibility-performance relationship depends on measurement methods, the research context, and certain environmental characteristics. Exploratory analyses regarding the antecedents of strategic flexibility reveal many meaningful differences to the predominant expectations in prior research. Overall, our results provide the necessary nuance to discerning the specific antecedent and consequential effects of strategic flexibility, thereby providing valuable implications for managers, and outlining a research agenda for future inquiries.
Language
English
Keywords
Meta analysis
Strategic flexibility
Strategy
HSG Classification
contribution to scientific community
Refereed
Yes
Book title
Academy of Management Annual Meeting Proceedings. 2014
Publisher
Academy of Management
Start page
40
Event Title
74th Academy of Management Annual Meeting (AOM) 2014 "The Power of Words"
Event Location
Philadelphia, PA
Event Date
01-05.08.2014
Subject(s)
Division(s)
Eprints ID
230467