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Crises in business markets: implications for interfirm linkages

Crises in business markets: implications for interfirm linkages In the global economy, firms link with customers and suppliers through a complex nexus of strategically critical interfirm relationships. Due to the diversity of environments and networks involved, these linkages are increasingly vulnerable to catastrophic disruptions, also referred to as “crises.” The authors offer an advanced conceptualization of crises and explicate the interplay of crises and interfirm relationships. On the basis of literature and qualitative data from 27 interviews with executives in 13 firms, the authors develop a process model of crisis that consists of five phases: (1) awareness and acknowledgment, (2) sensemaking, (3) response design, (4) response implementation, and (5) reconciliation in the aftermath. In discussing the model, the authors emphasize the influence of crisis on interfirm relationships and conversely highlight the role of the interfirm relationships in crisis management. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of the Academy of Marketing Science Springer Journals

Crises in business markets: implications for interfirm linkages

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Publisher
Springer Journals
Copyright
Copyright © 2007 by Academy of Marketing Science
Subject
Business and Management; Business and Management, general; Marketing; Social Sciences, general
ISSN
0092-0703
eISSN
1552-7824
DOI
10.1007/s11747-007-0045-1
Publisher site
See Article on Publisher Site

Abstract

In the global economy, firms link with customers and suppliers through a complex nexus of strategically critical interfirm relationships. Due to the diversity of environments and networks involved, these linkages are increasingly vulnerable to catastrophic disruptions, also referred to as “crises.” The authors offer an advanced conceptualization of crises and explicate the interplay of crises and interfirm relationships. On the basis of literature and qualitative data from 27 interviews with executives in 13 firms, the authors develop a process model of crisis that consists of five phases: (1) awareness and acknowledgment, (2) sensemaking, (3) response design, (4) response implementation, and (5) reconciliation in the aftermath. In discussing the model, the authors emphasize the influence of crisis on interfirm relationships and conversely highlight the role of the interfirm relationships in crisis management.

Journal

Journal of the Academy of Marketing ScienceSpringer Journals

Published: Jun 8, 2007

References