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- W4313592163 abstract "This study investigates the validity of exploitation and exploration when small- and medium-sized enterprises (SMEs) navigate a highly uncertain time. Although balancing the two strategies has been thought to lead to improved firm performance in general, a combined approach appears to be problematic for SMEs due to a lack of feasibility. We theorise that the effectiveness may vary depending on a fit between the strategies and the environmental contingencies. In doing so, we considered two potential environmental contingencies of a crisis for SMEs: loss of demand and loss of supply. To put our theory to the test, we gathered 224 responses from business leaders and key individuals from Korean start-ups and tested the effectiveness of crisis management strategies. Our findings support the validity of both exploitation and exploration when firms face a loss of demand, but not a loss of supply. It implies that the effectiveness of exploration and exploitation is contingent upon a specific form of crisis experienced at the firm level." @default.
- W4313592163 created "2023-01-06" @default.
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- W4313592163 date "2023-01-04" @default.
- W4313592163 modified "2023-09-28" @default.
- W4313592163 title "Navigating a crisis: do exploration and exploitation help SMEs when they respond to COVID-19 disruption?" @default.
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- W4313592163 doi "https://doi.org/10.1080/19761597.2022.2161921" @default.
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