Strategic adaptation : cross-cultural differences in company responses to an economic crisis

How do companies adapt their strategies when they are faced with a global economic crisis? Do managers in different countries differ in the way they react to major changes in their companies’ environment? Is national culture influencing adaptation strategies in times of crisis? “Strategic Adaptation” explores the processes that are at work when companies adapt to environmental change – from strategic issue diagnosis and decision-making processes (including political behaviour and conflicts) to the specific strategic actions in response to economic downturn. Based on both a qualitative and a quantitative empirical study among managers in Austria and Slovenia, this book explores how firms in the two countries strategically reacted to the 2008-09 financial and economic crisis and – taking cultural differences into account – how their decision processes and strategic actions in response to the crisis differed. How do companies adapt their strategies when they are faced with a global economic crisis? Do managers in different countries differ in the way they react to major changes in their companies' environment? Is national culture influencing adaptation strategies in times of crisis? "Strategic Adaptation" explores the processes that are at work when companies adapt to environmental change -- from strategic issue diagnosis and decision-making processes (including political behavior and conflicts within these processes) to specific strategic action that is taken in response to economic downturn. Based on both a qualitative and a quantitative empirical study among managers in Austria and Slovenia, this book explores how companies in the two countries strategically reacted to the 2008-09 financial and economic crisis, and how their decision processes and strategic actions in response to the crisis differ in the light of cultural differences "How do companies adapt their strategies when they are face with a global economic crisis? Do managers in different countries differ in the way they react to major changes in their companies' environment? Is national culture influencing adaptation strategies in times of crisis? 'Strategic Adaptation' explores the processes that are at work when companies' environmental change - From strategic issue diagnosis and decision-making processes (including political behaviour and conflicts) to the specific strategic actions in response to economic downturn. Based on both a qualitative and a quantitative empirical study among managers in Austria and Slovenia, this book explores how firms in the two countries strategically reacted to the 2008-09 financial and economic crisis and - taking cultural differences into account - how their decision processes and strategic actions in response to the crisis differed."--Publisher's website Front Matter....Pages I-XIII Introduction: Researching strategic adaptation in a cross-cultural context....Pages 1-13 Strategic decision-making, the environment, and national culture: An overview of key concepts....Pages 15-40 The strategic adaptation process: a literature review....Pages 41-94 Strategic action in response to economic crises....Pages 95-114 Cultural differences between Austria and Slovenia....Pages 115-138 Cultural influences on the adaptation process....Pages 139-158 Qualitative study: management interviews about strategic adaptation to the financial and economic crisis....Pages 159-197 Methodological overview of the quantitative empirical study....Pages 199-217 Results of the quantitative empirical study in Austria and Slovenia....Pages 219-244 Discussion, conclusions, and outlook....Pages 245-257 How do companies adapt their strategies when they are faced with a global economic crisis? Do managers in different countries differ in the way they react to major changes in their companies' environment? Is national culture influencing adaptation strategies in times of crisis? auStrategic Adaptation"" explores the processes that are at work when companies adapt to environmental change -- from strategic issue diagnosis and decision-making processes (including political behavior and conflicts within these processes) to specific strategic action that is taken in response to economic downturn. Ba