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

Title
How can David orchestrate resources to enhance firm performance? A dynamic approach to coping with resource constraints
Authors
Lee, JuilKim, Sang-Joon
Ewha Authors
김상준
SCOPUS Author ID
김상준scopus
Issue Date
2021
Journal Title
LONG RANGE PLANNING
ISSN
0024-6301JCR Link

1873-1872JCR Link
Citation
LONG RANGE PLANNING vol. 54, no. 4
Keywords
Dynamic resource orchestrationTechnologyMarketFocus escalationFocus alternationFirm performance
Publisher
ELSEVIER SCI LTD
Indexed
SSCI; SCOPUS WOS scopus
Document Type
Article
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 R&D 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.
DOI
10.1016/j.lrp.2021.102090
Appears in Collections:
경영대학 > 경영학전공 > Journal papers
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