Purpose

Turbulent hypercompetitive market conditions make small and medium enterprises (SMEs) vulnerable to abrupt crises caused by unexpected competitor moves. In these situations, enterprise risk management (ERM) can serve as a dynamic capability (DC) to overcome the impending crisis and improve SMEs' survival rates. To explore this capacity, which has only been vaguely addressed in prior research, we conduct an exploratory, abductive study to update the extant (ERM and DC) literature with empirical evidence from expert interviews.

Design/methodology/approach

We conduct an exploratory, abductive study using empirical evidence from expert interviews.

Findings

Our findings reveal ERM as a second-order DC in the micro-foundational components of competitive intelligence gathering, alliance building and integrative capabilities. We find that competitive intensity and government policy moderate the effects of these foundational capabilities. Finally, our study proposes a survivability model that provides new valuable knowledge of ERM as a DC for SMEs to deal with competition-driven crises.

Originality/value

This research survivability model shows how ERM as DC can facilitate the survivability of SMEs against competitive surprises. Although restricted to crises arising out of competitive surprises, this study provides valuable knowledge to the literature on what type of DCs are useful for specific situations. The study findings not only extended Teece's (2007) DCs framework to competitive crises but also placed it within a hierarchy of capabilities. The research findings indicate that an ERM culture in SMEs promote the growth and development of sensing, seizing and reconfiguring capabilities, vital for tiding competitive crises.

中文翻译：

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应对突然袭击：将企业风险管理分解为应对危机的动态能力

目的

动荡的竞争激烈的市场条件使中小型企业 (SME) 容易受到竞争对手出乎意料的举动引起的突然危机的影响。在这些情况下，企业风险管理（ERM）可以作为一种动态能力（DC）来克服迫在眉睫的危机并提高中小企业的生存率。为了探索这种在之前的研究中只含糊其辞地解决的能力，我们进行了一项探索性、溯因性研究，用专家访谈的经验证据更新现有（ERM 和 DC）文献。

设计/方法/方法

我们使用来自专家访谈的经验证据进行探索性、溯因性研究。

发现

我们的研究结果表明，ERM 是竞争情报收集、联盟建设和整合能力的微观基础组成部分中的二阶 DC。我们发现竞争强度和政府政策会缓和这些基础能力的影响。最后，我们的研究提出了一种生存能力模型，该模型为中小企业提供了有关 ERM 作为 DC 的新的宝贵知识，以应对竞争驱动的危机。

原创性/价值

该研究生存能力模型展示了作为 DC 的 ERM 如何促进中小企业应对竞争意外的生存能力。尽管仅限于由竞争意外引起的危机，但本研究为有关哪种类型的 DC 对特定情况有用的文献提供了宝贵的知识。研究结果不仅将 Teece (2007) 的 DCs 框架扩展到竞争危机，而且将其置于能力层次中。研究结果表明，中小企业的 ERM 文化促进了感知、把握和重新配置能力的增长和发展，这对于应对竞争危机至关重要。