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Managing Successful Strategic Turnarounds: A Mixed Methods Study of Knowledge-Based Dynamic Capabilities

Askarova, Samira H.
http://rave.ohiolink.edu/etdc/view?acc_num=case162636803542875

Abstract Details

2021, Doctor of Philosophy, Case Western Reserve University, Management.
Strategic turnarounds seek company survival after the firm has faced a period of significant underperformance and decline. The success of such transformation depends on the firm’s adaptive knowledge-based dynamic capabilities to change the firm’s markets, products, and operations. Due to the lack of systematic research in this area, I conducted a mixed methods study on the nature and effects of such capabilities. The research was primarily conducted in the private equity industry, where the private equity firms often invest in poorly performing companies and execute successful company turnarounds. Consequently, they extensively experience uncertainty, unpredictability, and radical organizational change associated with more or less successful turnarounds. I analyzed a large dataset to assess the impact of investing in specific industry or turnaround knowledge on the success of private equity turnarounds. In addition, I qualitatively analyzed several successful and failed turnaround efforts to solicit mechanisms that contribute to superior performance in this setting. Finally, I extended and generalized the mixed methods inquiry to traditional corporations by studying four turnaround firm cases to see if the same mechanisms impact strategic turnarounds in a general context. Overall, I found that the adaptive dynamic capabilities for strategic turnarounds are built on an evolving blend of planning, measuring, and time-critical decision-making processes that are integrated with continuous knowledge orchestration, experimentation, improvisation, and articulation. The iterative, experiential, and adaptive organizational learning helps improve the turnaround processes used to manage radical changes. These capabilities provide the foundation for broader firm-level absorptive capacity in private equity and traditional firms, leading to the development of the knowledge-driven adaptive mechanisms and capabilities necessary for navigating uncertain turnarounds episodes. My research contributes to a theory of continuous corporate change and draws on the concept of semi-structures. I expand it to analyze and explain strategic turnarounds and offer a detailed analysis of the critical role of learning during successful strategic turnarounds.
Kalle Lyytinen (Committee Chair)
Nicholas Berente (Committee Member)
Markku Maula (Committee Member)
Avi Turetsky (Committee Member)
Simon Peck (Committee Member)
228 p.
Management; Social Research; Systems Design
strategic turnarounds; uncertainty management; adaptive learning; continuous change; absorptive capacity; private equity; mixed methods study; case study

Recommended Citations

Citations

  • Askarova, S. H. (2021). Managing Successful Strategic Turnarounds: A Mixed Methods Study of Knowledge-Based Dynamic Capabilities [Doctoral dissertation, Case Western Reserve University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=case162636803542875

    APA Style (7th edition)

  • Askarova, Samira. Managing Successful Strategic Turnarounds: A Mixed Methods Study of Knowledge-Based Dynamic Capabilities. 2021. Case Western Reserve University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=case162636803542875.

    MLA Style (8th edition)

  • Askarova, Samira. "Managing Successful Strategic Turnarounds: A Mixed Methods Study of Knowledge-Based Dynamic Capabilities." Doctoral dissertation, Case Western Reserve University, 2021. http://rave.ohiolink.edu/etdc/view?acc_num=case162636803542875

    Chicago Manual of Style (17th edition)

case162636803542875
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© 2021, all rights reserved.
This open access ETD is published by Case Western Reserve University School of Graduate Studies and OhioLINK.