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How can David orchestrate resources to enhance firm performance? A dynamic approach to coping with resource constraints

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Alternative Title
How can David orchestrate resources to enhance firm performance? A dynamic approach to coping with resource constraints
Abstract
Given that the possession of abundant resources does not always guarantee superior firm performance, this study proposes a dynamic approach to enhancing firm value. Building on the resource orchestration thesis, we investigate how firms facing resource constraints enhance their capabilities over time by orchestrating resources and how this resource orchestration can play a role in improving firm performance. Using the dynamic perspective, this study identifies four resource orchestration modes, which are specified based on how a given firm dynamically allocates its resources to technology (enacted by RD activities) and marketing (enacted by advertising activities). Accordingly, we claim that firms with resource constraints can enhance their performance by escalating or altering their resources over time. To test our hypotheses, we used a sample of 4078 small and medium-sized enterprises in manufacturing industries between 1984 and 2018. We found that focus escalation for technology positively affects firm performance, captured by Tobin's q, and that focus alternation toward either technology or market is positively related to firm performance. Finally, we discuss the theoretical and practical implications of our findings.
Author(s)
김상준이주일
Issued Date
2021
Type
Article
Keyword
Business schoolsDynamic resource orchestrationFirm performanceFocus alternationFocus escalationManufacturing industryMarketMarketingTechnology
DOI
10.1016/j.lrp.2021.102090
URI
https://oak.ulsan.ac.kr/handle/2021.oak/9312
https://ulsan-primo.hosted.exlibrisgroup.com/primo-explore/fulldisplay?docid=TN_cdi_gale_infotracacademiconefile_A669941979&context=PC&vid=ULSAN&lang=ko_KR&search_scope=default_scope&adaptor=primo_central_multiple_fe&tab=default_tab&query=any,contains,How%20can%20David%20orchestrate%20resources%20to%20enhance%20firm%20performance%3F%20A%20dynamic%20approach%20to%20coping%20with%20resource%20constraints&offset=0&pcAvailability=true
Publisher
LONG RANGE PLANNING
Location
영국
Language
영어
ISSN
0024-6301
Citation Volume
54
Citation Number
4
Citation Start Page
102090
Citation End Page
102090
Appears in Collections:
Business > Business Administration
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