A small independent retailer's performance: Influenced by innovative strategic decision-making skills?

The existence of small independent retailers is seriously jeopardised by severe competitive pressure, mainly caused by the sharp rise in online trading, rapidly changing consumer behaviours and the effectiveness of large commercial companies. It is claimed that small retailers should respond to this...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Rainer Hensel, Ronald Visser, Anja Overdiek, Ellen Sjoer
Formato:	article
Lenguaje:	EN
Publicado:	Elsevier 2021
Materias:	Effectuation Entrepreneurial decision-making Innovation Business knowledge Small retailers History of scholarship and learning. The humanities AZ20-999 Social sciences (General) H1-99
Acceso en línea:	https://doaj.org/article/d5d74fa147e645748693756d458e51c5
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:d5d74fa147e645748693756d458e51c5
record_format	dspace
spelling	oai:doaj.org-article:d5d74fa147e645748693756d458e51c52021-11-28T04:35:00ZA small independent retailer's performance: Influenced by innovative strategic decision-making skills?2444-569X10.1016/j.jik.2021.10.002https://doaj.org/article/d5d74fa147e645748693756d458e51c52021-10-01T00:00:00Zhttp://www.sciencedirect.com/science/article/pii/S2444569X21000408https://doaj.org/toc/2444-569XThe existence of small independent retailers is seriously jeopardised by severe competitive pressure, mainly caused by the sharp rise in online trading, rapidly changing consumer behaviours and the effectiveness of large commercial companies. It is claimed that small retailers should respond to this pressure by designing and implementing innovative business strategies. However, little is known about the specific entrepreneurial qualities and skills needed to design innovative business strategies to cope effectively with these challenging business environments. A structural equation methodology is used to analyse the impact of strategic decision-making skills, originating from the effectuation framework, on a small retailer's success.Three entrepreneurial qualities and skills proved to be significantly related to a small retailer's effectiveness: 1) innovative personal qualities related to creativity, 2) cognitive analytic business skills, and 3) capacities in inspirational networking. However, a specific path seems to exist. Creativity provides the input for the effective application of cognitive analytic business skills, the latter again directly positively influencing a small retailer's performance. This implies that to be effective, innovative personal qualities should be combined with cognitive business skills. Moreover, the final model revealed an indirect positive influence of inspirational networking on a small retailer's performance. Capacities in inspirational networking have a positive impact, in so far as the following two basic conditions are satisfied: 1) frequent social initiative, and 2) intellectual authenticity. Moreover, the effective application of business skills positively influences inspirational networking skills, an insight again underscoring the necessity to combine cognitive analytic skills and social networking abilities.Rainer HenselRonald VisserAnja OverdiekEllen SjoerElsevierarticleEffectuationEntrepreneurial decision-makingInnovationBusiness knowledgeSmall retailersHistory of scholarship and learning. The humanitiesAZ20-999Social sciences (General)H1-99ENJournal of Innovation & Knowledge, Vol 6, Iss 4, Pp 280-289 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Effectuation Entrepreneurial decision-making Innovation Business knowledge Small retailers History of scholarship and learning. The humanities AZ20-999 Social sciences (General) H1-99
spellingShingle	Effectuation Entrepreneurial decision-making Innovation Business knowledge Small retailers History of scholarship and learning. The humanities AZ20-999 Social sciences (General) H1-99 Rainer Hensel Ronald Visser Anja Overdiek Ellen Sjoer A small independent retailer's performance: Influenced by innovative strategic decision-making skills?
description	The existence of small independent retailers is seriously jeopardised by severe competitive pressure, mainly caused by the sharp rise in online trading, rapidly changing consumer behaviours and the effectiveness of large commercial companies. It is claimed that small retailers should respond to this pressure by designing and implementing innovative business strategies. However, little is known about the specific entrepreneurial qualities and skills needed to design innovative business strategies to cope effectively with these challenging business environments. A structural equation methodology is used to analyse the impact of strategic decision-making skills, originating from the effectuation framework, on a small retailer's success.Three entrepreneurial qualities and skills proved to be significantly related to a small retailer's effectiveness: 1) innovative personal qualities related to creativity, 2) cognitive analytic business skills, and 3) capacities in inspirational networking. However, a specific path seems to exist. Creativity provides the input for the effective application of cognitive analytic business skills, the latter again directly positively influencing a small retailer's performance. This implies that to be effective, innovative personal qualities should be combined with cognitive business skills. Moreover, the final model revealed an indirect positive influence of inspirational networking on a small retailer's performance. Capacities in inspirational networking have a positive impact, in so far as the following two basic conditions are satisfied: 1) frequent social initiative, and 2) intellectual authenticity. Moreover, the effective application of business skills positively influences inspirational networking skills, an insight again underscoring the necessity to combine cognitive analytic skills and social networking abilities.
format	article
author	Rainer Hensel Ronald Visser Anja Overdiek Ellen Sjoer
author_facet	Rainer Hensel Ronald Visser Anja Overdiek Ellen Sjoer
author_sort	Rainer Hensel
title	A small independent retailer's performance: Influenced by innovative strategic decision-making skills?
title_short	A small independent retailer's performance: Influenced by innovative strategic decision-making skills?
title_full	A small independent retailer's performance: Influenced by innovative strategic decision-making skills?
title_fullStr	A small independent retailer's performance: Influenced by innovative strategic decision-making skills?
title_full_unstemmed	A small independent retailer's performance: Influenced by innovative strategic decision-making skills?
title_sort	small independent retailer's performance: influenced by innovative strategic decision-making skills?
publisher	Elsevier
publishDate	2021
url	https://doaj.org/article/d5d74fa147e645748693756d458e51c5
work_keys_str_mv	AT rainerhensel asmallindependentretailersperformanceinfluencedbyinnovativestrategicdecisionmakingskills AT ronaldvisser asmallindependentretailersperformanceinfluencedbyinnovativestrategicdecisionmakingskills AT anjaoverdiek asmallindependentretailersperformanceinfluencedbyinnovativestrategicdecisionmakingskills AT ellensjoer asmallindependentretailersperformanceinfluencedbyinnovativestrategicdecisionmakingskills AT rainerhensel smallindependentretailersperformanceinfluencedbyinnovativestrategicdecisionmakingskills AT ronaldvisser smallindependentretailersperformanceinfluencedbyinnovativestrategicdecisionmakingskills AT anjaoverdiek smallindependentretailersperformanceinfluencedbyinnovativestrategicdecisionmakingskills AT ellensjoer smallindependentretailersperformanceinfluencedbyinnovativestrategicdecisionmakingskills
_version_	1718408347370127360

A small independent retailer's performance: Influenced by innovative strategic decision-making skills?

Ejemplares similares