Strategy of firms in unstable institutional environments |
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| Authors: | Mehdi Farashahi Taïeb Hafsi |
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| Institution: | (1) Concordia University, Montreal, QC, Canada;(2) HEC Montreal, Montreal, QC, Canada;(3) Department of Management, John Molson School of Business, Concordia University, 1455 de Maisonneuve Blvd. W., Montreal, QC, H3G 1M8, Canada |
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| Abstract: | Institutional instability as one of the most common characteristics of developing countries and its impacts on the strategy
of firms is explored in this study. We conducted detailed field research based on 32 semi-structured interviews with top managers
of textile firms in Iran. Results show that managers in developing countries engage in a political struggle to ensure that
institutional uncertainty is balanced by a reasonable political give and take. It is argued that power and legitimacy are
key resources for firms' survival in institutionally unstable environments. Some theoretical foundations for the strategy
of firms in unstable institutional environments are developed. |
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