Considering Pay-for-Performance Incentives? You May Put Innovation at Risk

By Sarah Steimer Open, diversified and large networks are known to spur innovation at companies, but managers may discourage their development when they implement pay-for-performance incentives. These plans — which typically rely on short-term and quantitative performance metrics — actually … Continue reading Considering Pay-for-Performance Incentives? You May Put Innovation at Risk

Strategic Responses to Crisis

A Virtual Special Issue edited by Matthias Wenzel, Sarah Stanske, and Marvin Lieberman

Currently, the pandemic crisis is affecting the lives of people and organizations around the world. As the coronavirus continues to spread, more and more governments are implementing strong measures to save people’s lives, such as the prohibition of events, lockdowns, and shutdowns. These measures contribute to slowing down the spread of the coronavirus in order to avoid lethal capacity overloads of national healthcare systems. At the same time, they threaten the survival of firms across all sectors and industries at a global scale—with potentially devastating individual, societal, and economic outcomes, such as massive job losses and social precarity. Therefore, the corona crisis raises important questions about how firms can respond effectively to crises such as the current pandemic.

In this Virtual Special Issue, we gather and discuss key articles published in the journals of the Strategic Management Society (SMS) that shed light on how firms respond to crisis. Our overview focuses on 13 articles that substantially inform our understanding of this issue.

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Directed by Words: How Entrepreneurs Rely on Salient Frames to Devise a Market Entry Strategy

by Kisha Lashley Language is powerful; scholars have shown that organizations rely on language to guide stakeholder interpretations to create value for the focal firm. For example, entrepreneurial firms can use language to access resources and to generate other support … Continue reading Directed by Words: How Entrepreneurs Rely on Salient Frames to Devise a Market Entry Strategy