Authenticity and high performance: Nonmarket social, public and media strategies of foreign SMEs during a black swan event

IF 2.6 3区 管理学 Q3 MANAGEMENT
Haritz Gorostidi-Martinez, Qing Yun Jiang, Xiao Kang Zhao
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Abstract

Nonmarket (NM) strategy is an emerging concept, similar to the notion of NM social, public and media strategy (SPMS). Previous literature has predominantly focused on larger corporations, often overlooking smaller enterprises. Additionally, much of the existing research has been centred on developed markets, leaving a gap in qualitative research. The current analysis seeks to elucidate how foreign small and medium-sized enterprises (FSMEs) in transitional markets, such as Shanghai, adopt specific NM SPMS to mitigate the liability of foreignness (LOF) during a pandemic. The study utilizes a CGT approach, employing semi-structured interviews with 27 participants, including foreign entrepreneurs and digital marketing specialists. Additionally, qualitative data was analysed comprehensively using Atlas.ti 9 software. The qualitative methodology implementation resulted in the creation of the authenticity and high performance framework from where specific strategies and general implications are presented. The study highlights two principal themes: (1) The need for increased flexibility and speed in social media message communication and (2) Customized FSME strategies through digital marketing—a never-going-back market digitalization. The second theme is subdivided into (a) Tailored public relations for FSMEs. (b) An increased need for internal cohesion—fostering a stable mindset and positive rapport among staff. (c) An increased need for trialling new target customers. (d) Creating a relatable story—showing a particular vulnerability can be viral and (e) Maintaining a strong reputation for operational performance.

真实性与高绩效:黑天鹅事件中外国中小企业的非市场社交、公共和媒体战略
非市场(NM)战略是一个新兴概念,类似于非市场社会、公共和媒体战略(SPMS)的概念。以往的文献主要关注大型企业,往往忽略了小型企业。此外,现有研究大多以发达市场为中心,在定性研究方面存在空白。目前的分析旨在阐明上海等转型市场中的外资中小型企业(FSMEs)如何采用特定的NM SPMS,以减轻大流行病期间的外资责任(LOF)。本研究采用 CGT 方法,对 27 名参与者(包括外国企业家和数字营销专家)进行了半结构化访谈。此外,还使用 Atlas.ti 9 软件对定性数据进行了全面分析。通过定性方法的实施,建立了真实性和高绩效框架,并在此基础上提出了具体策略和一般影响。研究强调了两个主要主题:(1) 需要提高社交媒体信息传播的灵活性和速度;(2) 通过数字营销--永不退缩的市场数字化--定制金融服务、中小型企业战略。第二个主题细分为 (a) 为金融服务中小企业量身定制的公共关系。(b) 对内部凝聚力的需求增加--培养员工稳定的心态和积极的关系。(c) 试探新目标客户的需求增加。(d) 创造一个有亲和力的故事--显示特定的弱点可以成为病毒;以及 (e) 保持经营业绩的良好声誉。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
5.40
自引率
12.90%
发文量
51
期刊介绍: The Journal of Contingencies and Crisis Management is an invaluable source of information on all aspects of contingency planning, scenario analysis and crisis management in both corporate and public sectors. It focuses on the opportunities and threats facing organizations and presents analysis and case studies of crisis prevention, crisis planning, recovery and turnaround management. With contributions from world-wide sources including corporations, governmental agencies, think tanks and influential academics, this publication provides a vital platform for the exchange of strategic and operational experience, information and knowledge.
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