Crises in business markets: implications for interfirm linkages |
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Authors: | Rajdeep Grewal Jean L Johnson Suprateek Sarker |
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Institution: | (1) Department of Marketing, Smeal College of Business, Pennsylvania State University, University Park, PA 16802, USA;(2) Department of Marketing, College of Business, Washington State University, 380 Todd Hall, P.O. Box 644730, Pullman, WA 99164-4730, USA;(3) Department of Information Systems, College of Business, Washington State University Pullman, 437 J Todd Hall, P.O. Box 644743, Pullman, WA 99164-4729, USA |
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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.
The authors contributed equally and are listed alphabetically. |
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Keywords: | Catasthrophic disruptions Crisis management Interfirm relationships |
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