en pl
en pl

Central European Management Journal

Show issue
Year 2017 
Volume 25 
Issue 4

How to Successfully Internationalize SMEs from the CEE Region: The Role of Strategies of Differentiation and Education

Melita Balas Rant
University of Ljubljana

Simone Korenjak Černe
University of Ljubljana

2017 25 (4) Central European Management Journal

DOI 10.7206/jmba.ce.2450-7814.205

Article contents

Abstract

Purpose: The purpose of the paper is to better understand why some SMEs who pursue a niche strategy on the international scale are more effective with a differentiation via innovation while others with marketing differentiation.

Methodology: Therefore, the paper studies the effectiveness of different points of differentiation (innovation, marketing) of hidden champion type of companies: (1) from the perspective of the unknowns of the key success factors in the specifc market segment, and (2) from the perspective of the professional mindset/education of the strategist.

Findings: The results show that differentiation via innovation positively impacts frm performance when there are many market unknowns over key success factors, whereas marketing differentiation positively impacts frm performance when there are few market unknowns over key success factors. On the other hand, when top management earns a business education, the impact of marketing differentiation on frm performance is signifcant, positive, and strong. The effectiveness of differentiation via innovation does not depend on education.

Research limitations/implications: These results mostly consider the hidden champion type of companies, which prefer not to reveal themselves or their data to the public. The transferability of this research is thus limited.

Originality/value: This paper studies the hidden champion type of companies, which usually receive little attention from researchers, through the lens of differentiation via innovation and marketing differentiation as two distinct ways of competing as their effectiveness is contingent on the market unknowns.

References

  1. Adner, R. and Zemsky, P. (2012). Competitive Positioning and Generic Strategies: Revisiting the ‘Stuck in the Middle’ proposition. Working Paper. Tuck Business School. [Google Scholar]
  2. Adner, R., Csaszar, F.A. et al. (2014). Positioning on a multiattribute landscape. Management Science, 60(11): 2794–2815, https://doi.org/10.1287/mnsc.2014.1978 [Google Scholar]
  3. Al-alak, B.A. and Tarabieh, S. (2011). Gaining competitive advantage and organizational performance through customer orientation, innovation differentiation and market differentiation. International Journal of Economics and Management Sciences, 1(5): 80–91. [Google Scholar]
  4. Azimont, F. and Araujo, L. (2007). Category reviews as market-shaping events. Industrial Marketing Management, 36(7): 849–860, https://doi.org/10.1016/j.indmarman.2007.05.012 [Google Scholar]
  5. Bantel, K.A. and Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, 10: 107, https://doi.org/10.1002/smj.4250100709 [Google Scholar]
  6. Barrett, R. (2016). A New Psychology of Human Well-Being: An Exploration of the Influence of Ego-Soul Dynamics on Mental and Physical Health. Lulu. com. [Google Scholar]
  7. Bartelsman, E., Scarpetta, S. et al. (2005). Comparative analysis of frm demographics and survival: evidence from micro-level sources in OECD countries. Industrial and Corporate Change, 14(3): 365–391, https://doi.org/10.1093/icc/dth057 [Google Scholar]
  8. Bartlett, W. and Bukvič, V. (2001). Barriers to SME growth in Slovenia. MOST: Economic Policy in Transitional Economies, 11(2): 177–195, https://doi.org/10.1023/A:1012206414785 [Google Scholar]
  9. Baum, J.A. (1999). Organizational ecology. In: S.R. Clegg and C. Hardy (eds.), Studying Organization: Theory and Method. Sage. [Google Scholar]
  10. Baum, J.A. and Singh, J.V. (1994). Organization-environment coevolution. In: Evolutionary dynamics of organizations. Oxford University Press. [Google Scholar]
  11. Bergh, D.D. (2001). Executive retention and acquisition outcomes: A test of opposing views on the influence of organizational tenure. Journal of Management, 27(5): 603–622, https://doi.org/10.1177/014920630102700506 [Google Scholar]
  12. Berson, Y., Nemanich, L.A. et al. (2006). Leadership and organizational learning: A multiple levels perspective. The Leadership Quarterly, 17(6): 577–594, https://doi.org/10.1016/j.leaqua.2006.10.003 [Google Scholar]
  13. Bower, J.L. (1986). Managing the resource allocation process: A study of corporate planning and investment. Harvard Business Press. [Google Scholar]
  14. Burgelman, R.A. (1983). A process model of internal corporate venturing in the diversifed major frm. Administrative Science Quarterly, 28: 223–244, https://doi.org/10.2307/2392619 [Google Scholar]
  15. Burton, R.M. and Obel, B. (1998). Strategic organizational diagnosis and design: Developing theory for application. Springer, https://doi.org/10.1007/978-1-4684-0021-2 [Google Scholar]
  16. Calof, J.L. (1993). The impact of size on internationalization. Journal of Small Business Management, 31(4). [Google Scholar]
  17. Carmin, J. and VanDeveer, S.D. (2005). EU enlargement and the environment: institutional change and environmental policy in Central and Eastern Europe. Psychology Press. [Google Scholar]
  18. Carpenter, M.A. and Fredrickson, J.W. (2001). Top management teams, global strategic posture, and the moderating role of uncertainty. Academy of Management Journal, 44(3): 533–545, https://doi.org/10.2307/3069368 [Google Scholar]
  19. Carpenter, M.A., Geletkanycz, M.A. et al. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6): 749–778, https://doi.org/10.1016/j.jm.2004.06.001 [Google Scholar]
  20. Chandler, A.D. (1962). Strategy and structure: Chapters in the history of the American enterprise. Cambridge: Massachusetts Institute of Technology. [Google Scholar]
  21. Chen, X., Ender, P., Mitchell, M. and Wells, C. (2003). Regression with SPSS. Obtained from http://www.ats.ucla.edu/stat/spss/webbooks/reg/default.htm . [Google Scholar]
  22. Contractor, F.J., Kumar, V. et al. (2007). Nature of the relationship between international expansion and performance: The case of emerging market frms. Journal of World Business, 42(4): 401–417, https://doi.org/10.1016/j.jwb.2007.06.003 [Google Scholar]
  23. Coviello, N.E. and McAuley, A. (1999). Internationalisation and the smaller frm: a review of contemporary empirical research. MIR: Management International Review, 39(3): 223–256. [Google Scholar]
  24. Cui, G. and Liu, Q. (2001). Emerging Market Segments in a Transitional Economy: A Study of Urban Consumers in China. Journal of International Marketing, 9(1): 84–106, https://doi.org/10.1509/jimk.9.1.84.19833 [Google Scholar]
  25. Datta, D.K. and Rajagopalan, N. (1998). Industry structure and CEO characteristics: An empirical study of succession events. Strategic Management Journal, 19(9): 833–852. https://doi.org/10.1002/(SICI)1097-0266(199809)19:9<833::AID-SMJ971>3.0.CO;2-V [Google Scholar]
  26. Dawes, J. (1999). The relationship between subjective and objective company performance measures in market orientation research: further empirical evidence. Marketing Bulletin – Department of Marketing Massey University, 10: 65–75. [Google Scholar]
  27. Dickson, P.R. and Ginter, J.L. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2): 1–10, https://doi.org/10.2307/1251125 [Google Scholar]
  28. Dillon, W.R. and Goldstein, M. (1984). Multivariate Analysis. Methods and Applications. John Wiley & Sons, Inc. [Google Scholar]
  29. Donaldson, L. (2001). The Contingency Theory of Organizations. Thousand Oaks, CA, Sage Publications, https://doi.org/10.4135/9781452229249 [Google Scholar]
  30. Doyle, P. and Saunders, J. (1985). Market segmentation and positioning in specialized industrial markets. The Journal of Marketing, 49(2): 24–32, https://doi.org/10.2307/1251562 [Google Scholar]
  31. Duncan, R.B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly: 313–327, https://doi.org/10.2307/2392145 [Google Scholar]
  32. Field, A. (2000). Discovering Statistics using SPSS for Windows. Sage Publications. Fred van Raaij, W. and Verhallen, T.M. (1994). Domain-specifc market segmentation. European Journal of Marketing, 28(10): 49–66, https://doi.org/10.1108/03090569410075786 [Google Scholar]
  33. Garbarski, L. (2014). Creating Value for the Organization through Marketing. Management and Business Administration. Central Europe, 4(127): 60–69, https://doi.org/10.7206/mba.ce.2084-3356.119 [Google Scholar]
  34. Gavetti, G., Levinthal, D.A. et al. (2005). Strategy making in novel and complex worlds: the power of analogy. Strategic Management Journal, 26(8): 691–712, https://doi.org/10.1002/smj.475 [Google Scholar]
  35. Flynn, P.M., Tan, T.K. et al. (2017). Redefning Success: Integrating Sustainability into Management Education. Oxford: Taylor & Francis Group. [Google Scholar]
  36. Hagedoorn, J. and Cloodt, M. (2003). Measuring innovative performance: is there an advantage in using multiple indicators? Research Policy, 32(8): 1365–1379, https://doi.org/10.1016/S0048-7333(02)00137-3 [Google Scholar]
  37. Hambrick, D.C. and Mason, P.A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2): 193–206. [Google Scholar]
  38. Hayes, A.F. (2013). Introduction to Mediation, Moderation, and Conditional Process Analysis. A Regression-Based Approach. New York: The Guilford Press. [Google Scholar]
  39. Herrmann, P. and Datta, D.K. (2002). CEO successor characteristics and the choice of foreign market entry mode: An empirical study. Journal of International Business Studies, 33(3): 551–569. [Google Scholar]
  40. Herrmann, P. and Datta, D.K. (2005). Relationships between Top Management Team Characteristics and International Diversifcation: an Empirical Investigation*. British Journal of Management, 16(1): 69–78, https://doi.org/10.1111/j.1467-8551.2005.00429.x [Google Scholar]
  41. Heshmati, A. (2001). On the growth of micro and small frms: evidence from Sweden. Small Business Economics, 17(3): 213–228, https://doi.org/10.1023/A:1011886128912 [Google Scholar]
  42. Hill, C.W.L. (1988). Differentiation versus Low Cost or Differentiation and Low Cost: A Contingency Framework. The Academy of Management Review, 13(3): 401–412. [Google Scholar]
  43. Hitt, M.A., Tihanyi, L. et al. (2006). “International diversifcation: Antecedents, outcomes, and moderators. Journal of Management, 32(6): 831–867, https://doi.org/10.1177/0149206306293575 [Google Scholar]
  44. Huber, G.P. and Glick, W.H. (1993). Organizational change and redesign: Ideas and insights for improving performance. Oxford: Oxford University Press. [Google Scholar]
  45. Ingram, T., Kraśnicka, T., Wronka-Pośpiech, M., Głód, G. and Głód, W. (2016). Relationships Between Miles and Snow Strategic Types and Organizational Performance in Polish Production Companies. Journal of Management and Business Administration. Central Europe, 24(1): 17–45, https://doi.org/10.7206/jmba.ce.2450-7814.162 [Google Scholar]
  46. Kirzner, I.M. (1999). Creativity and/or alertness: A reconsideration of the Schumpeterian entrepreneur. The Review of Austrian Economics, 11(1): 5–17, https://doi.org/10.1023/A:1007719905868 [Google Scholar]
  47. Klepper, S. (1996). Entry, exit, growth, and innovation over the product life cycle. The American Economic Review, 86(3): 562–583. [Google Scholar]
  48. Klepper, S. and Graddy, E. (1990). The evolution of new industries and the determinants of market structure. The RAND Journal of Economics, 21(1): 27–44, https://doi.org/10.2307/2555491 [Google Scholar]
  49. Kor, Y.Y. (2003). Experience-based top management team competence and sustained growth. Organization Science, 14(6): 707–719, https://doi.org/10.1287/orsc.14.6.707.24867 [Google Scholar]
  50. Koźmiński, A.K. (2015). Management in the Time of »Generalized Uncertainty« the Question of Revelvance. Management and Business Administration. Central Europe, 23(4): 2–10, https://doi.org/10.7206/mba.ce.2084-3356.154 [Google Scholar]
  51. Laloux, F. (2014). Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness. Brussels: Nelson Parker. [Google Scholar]
  52. Lattin, J., Carroll, J.D. and Green, P.E. (2003). Analyzing Multivariate Data. Brooks/Cole. Thomson Learning, Inc. [Google Scholar]
  53. Lee, J. and Miller, D. (1996). Strategy, Environment and Performance in Two Technological Contexts: Contingency Theory in Korea. Organization Studies, 17(5): 729–750, https://doi.org/10.1177/017084069601700502 [Google Scholar]
  54. Lee, K.S., Lim, G.H. et al. (1999). Dealing with resource disadvantage: Generic strategies for SMEs. Small Business Economics, 12(4): 299–311, https://doi.org/10.1023/A:1008085310245 [Google Scholar]
  55. Lee, K.S., Lim, G.H. et al. (2001). Generic marketing strategies for small and medium-sized enterprises– conceptual framework and examples from Asia. Journal of Strategic Marketing, 9(2): 145–162, https://doi.org/10.1080/09652540122176 [Google Scholar]
  56. Levinthal, D.A. and March, J.G. (1993). The myopia of learning. Strategic Management Journal, 14(S2): 95–112, https://doi.org/10.1002/smj.4250141009 [Google Scholar]
  57. Lewis, M.W. and Grimes, A.I. (1999). Metatriangulation: Building theory from multiple paradigms. Academy of Management Review, 24(4): 672–690. [Google Scholar]
  58. Mallick, D.N. and Chaudhury, A. (2000). Technology management education in MBA programs: a comparative study of knowledge and skill requirements. Journal of Engineering and Technology Management, 17(2): 153–173, https://doi.org/10.1016/S0923-4748(00)00019-9 [Google Scholar]
  59. Manolova, T.S., Eunni, R.V. et al. (2008). Institutional environments for entrepreneurship: Evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice, 32(1): 203–218, https://doi.org/10.1111/j.1540-6520.2007.00222.x [Google Scholar]
  60. March, J.G. (1991). “Exploration and exploitation in organizational learning. Organization Science, 2(1): 71–87, https://doi.org/10.1287/orsc.2.1.71 [Google Scholar]
  61. McKiernan, P. and Purg, D. (2013). Hidden Champions in CEE and Turkey. Springer. https://doi.org/10.1007/978-3-642-40504-4 [Google Scholar]
  62. Miller, D. (1982). Evolution and revolution: A quantum view of structural change in organizations. Journal of Management Studies, 19(2): 131–151, https://doi.org/10.1111/j.1467-6486.1982.tb00064.x [Google Scholar]
  63. Miller, D. (1988). Relating Porter’s business strategies to environment and structure: Analysis and performance implications. Academy of Management Journal, 31(2): 280–308, https://doi.org/10.2307/256549 [Google Scholar]
  64. Miller, D. (1991). Stale in the saddle: CEO tenure and the match between organization and environment. Management Science, 37(1): 34–52, https://doi.org/10.1287/mnsc.37.1.34 [Google Scholar]
  65. Miller, D. and Shamsie, J. (1999). Learning across the life cycle: Experimentation and performance among Hollywood studio heads. Academy of Management Proceedings. Academy of Management, August (Meeting Abstract Supplement). [Google Scholar]
  66. Miller, D. and Toulouse, J.-M. (1986). Chief executive personality and corporate strategy and structure in small frms. Management Science, 32(11): 1389–1409, https://doi.org/10.1287/mnsc.32.11.1389 [Google Scholar]
  67. Miller, D. and Friesen, P.H. (1983). Strategy-making and environment: the third link. Strategic Management Journal, 4(3): 221–235, https://doi.org/10.1002/smj.4250040304 [Google Scholar]
  68. Parnell, J.A., Lester, D.L. et al. (2000). Strategy as a response to organizational uncertainty: an alternative perspective on the strategy-performance relationship. Management Decision, 38(8): 520–530, https://doi.org/10.1108/00251740010352811 [Google Scholar]
  69. Parnell, J.A., Lester, D.L. et al. (2012). How environmental uncertainty affects the link between business strategy and performance in SMEs: Evidence from China, Turkey, and the USA. Management Decision, 50(4): 546–568, https://doi.org/10.1108/00251741211220129 [Google Scholar]
  70. Pissarides, F. (1999). Is lack of funds the main obstacle to growth? EBRD’s experience with smalland medium-sized businesses in Central and Eastern Europe. Journal of Business Venturing, 14(5): 519–539, https://doi.org/10.1016/S0883-9026(98)00027-5 [Google Scholar]
  71. Porter, M.E. (1980). Competitive Strategy. New York: Free Press. [Google Scholar]
  72. Porter, M.E. (1985). Competitive Advantage. New York: Free Press. [Google Scholar]
  73. Randøy, T. and Goel, S. (2003). Ownership structure, founder leadership, and performance in Norwegian SMEs: implications for fnancing entrepreneurial opportunities. Journal of Business Venturing, 18(5): 619–637, https://doi.org/10.1016/S0883-9026(03)00013-2 [Google Scholar]
  74. Ruef, M. and Scott, W.R. (1998). A multidimensional model of organizational legitimacy: Hospital survival in changing institutional environments. Administrative Science Quarterly, 43(4): 877–904, https://doi.org/10.2307/2393619 [Google Scholar]
  75. Scharmer, O. (2009). Theory U: Leading form the Future as It Emerges. San Francisco: Berrett-Koehler Publishers. [Google Scholar]
  76. Schmidt-Wilk, J., Heaton, D.P. et al. (2000). Higher education for higher consciousness: Maharishi University of Management as a model for spirituality in management education. Journal of Management Education, 24(5): 580–611, https://doi.org/10.1177/105256290002400505 [Google Scholar]
  77. Schumpeter, J.A. (1947). The creative response in economic history. The Journal of Economic History, 7(02): 149–159, https://doi.org/10.1017/S0022050700054279 [Google Scholar]
  78. Sidor, J. (2015). Debate Over Rigor and Relevance in Scientifc Study of Management. Management and Business Administration. Central Europe, 23(3): 32–46, https://doi.org/10.7206/mba.ce.2084-3356.149 [Google Scholar]
  79. Simon, H. (1996a). Hidden champions : Lessons from 500 of the world’s best unknown companies. Boston (Mass.): Harvard Business School Press. [Google Scholar]
  80. Simon, H. (1996b). You don’t Have to be German to be a “Hidden Champion”. Business Strategy Review, 7(2): 1–13, https://doi.org/10.1111/j.1467-8616.1996.tb00118.x [Google Scholar]
  81. Simon, H. (2009). Hidden champions of the twenty-frst century: The success strategies of unknown world market leaders. Springer Science & Business Media, https://doi.org/10.1007/978-0-387-98147-5 [Google Scholar]
  82. Smith, W.R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1): 3–8, https://doi.org/10.2307/1247695 [Google Scholar]
  83. Svetličič, M., Jaklič, A. et al. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4): 36–65, https://doi.org/10.2753/EEE0012-8775450402 [Google Scholar]
  84. Thomas, A.S., Litschert, R.J. et al. (1991). The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal, 12(7): 509–522, https://doi.org/10.1002/smj.4250120704 [Google Scholar]
  85. Tripsas, M. and Gavetti, G. (2000). Capabilities, cognition, and inertia: Evidence from digital imaging. Strategic Management Journal, 21(10–11): 1147–1161, https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1147::AID-SMJ128>3.0.CO;2-R [Google Scholar]
  86. Tushman, M.L., Newman, W.H. et al. (1986). Convergence and upheaval: Managing the unsteady pace of organizational evolution. California Management Review, 29(1): 29–44, https://doi.org/10.2307/41165225 [Google Scholar]
  87. Verhees, F.J. and Meulenberg, M.T. (2004). Market orientation, innovativeness, product innovation, and performance in small frms. Journal of Small Business Management, 42(2): 134–154, https://doi.org/10.1111/j.1540-627X.2004.00102.x [Google Scholar]
  88. Waldman, D.A., Ramirez, G.G. et al. (2001). Does leadership matter? CEO leadership attributes and proftability under conditions of perceived environmental uncertainty. Academy of Management Journal, 44(1): 134–143, https://doi.org/10.2307/3069341 [Google Scholar]
  89. Wally, S. and Baum, J.R. (1994). Personal and structural determinants of the pace of strategic decision making. Academy of Management Journal, 37(4): 932–956, https://doi.org/10.2307/256605 [Google Scholar]
  90. Weiner, N. and Mahoney, T.A. (1981). A model of corporate performance as a function of environmental, organizational, and leadership influences. Academy of Management Journal, 24(3): 453–470, https://doi.org/10.2307/255568 [Google Scholar]
  91. Wiersema, M.F. and Bantel, K.A. (1992). Top management team demography and corporate strategic change. Academy of Management Journal, 35(1): 91–121, https://doi.org/10.2307/256474 [Google Scholar]
  92. Xie, Y. H. and T. Suh (2014). Perceived resource defciency and internationalization of small-and medium-sized frms. Journal of International Entrepreneurship, 12(3): 207–229, https://doi.org/10.1007/s10843-014-0121-9 [Google Scholar]
  93. Adner, R. and Zemsky, P. (2012). Competitive Positioning and Generic Strategies: Revisiting the ‘Stuck in the Middle’ proposition. Working Paper. Tuck Business School. [Google Scholar]
  94. Adner, R., Csaszar, F.A. et al. (2014). Positioning on a multiattribute landscape. Management Science, 60(11): 2794–2815, https://doi.org/10.1287/mnsc.2014.1978 [Google Scholar]
  95. Al-alak, B.A. and Tarabieh, S. (2011). Gaining competitive advantage and organizational performance through customer orientation, innovation differentiation and market differentiation. International Journal of Economics and Management Sciences, 1(5): 80–91. [Google Scholar]
  96. Azimont, F. and Araujo, L. (2007). Category reviews as market-shaping events. Industrial Marketing Management, 36(7): 849–860, https://doi.org/10.1016/j.indmarman.2007.05.012 [Google Scholar]
  97. Bantel, K.A. and Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, 10: 107, https://doi.org/10.1002/smj.4250100709 [Google Scholar]
  98. Barrett, R. (2016). A New Psychology of Human Well-Being: An Exploration of the Influence of Ego-Soul Dynamics on Mental and Physical Health. Lulu. com. [Google Scholar]
  99. Bartelsman, E., Scarpetta, S. et al. (2005). Comparative analysis of frm demographics and survival: evidence from micro-level sources in OECD countries. Industrial and Corporate Change, 14(3): 365–391, https://doi.org/10.1093/icc/dth057 [Google Scholar]
  100. Bartlett, W. and Bukvič, V. (2001). Barriers to SME growth in Slovenia. MOST: Economic Policy in Transitional Economies, 11(2): 177–195, https://doi.org/10.1023/A:1012206414785 [Google Scholar]
  101. Baum, J.A. (1999). Organizational ecology. In: S.R. Clegg and C. Hardy (eds.), Studying Organization: Theory and Method. Sage. [Google Scholar]
  102. Baum, J.A. and Singh, J.V. (1994). Organization-environment coevolution. In: Evolutionary dynamics of organizations. Oxford University Press. [Google Scholar]
  103. Bergh, D.D. (2001). Executive retention and acquisition outcomes: A test of opposing views on the influence of organizational tenure. Journal of Management, 27(5): 603–622, https://doi.org/10.1177/014920630102700506 [Google Scholar]
  104. Berson, Y., Nemanich, L.A. et al. (2006). Leadership and organizational learning: A multiple levels perspective. The Leadership Quarterly, 17(6): 577–594, https://doi.org/10.1016/j.leaqua.2006.10.003 [Google Scholar]
  105. Bower, J.L. (1986). Managing the resource allocation process: A study of corporate planning and investment. Harvard Business Press. [Google Scholar]
  106. Burgelman, R.A. (1983). A process model of internal corporate venturing in the diversifed major frm. Administrative Science Quarterly, 28: 223–244, https://doi.org/10.2307/2392619 [Google Scholar]
  107. Burton, R.M. and Obel, B. (1998). Strategic organizational diagnosis and design: Developing theory for application. Springer, https://doi.org/10.1007/978-1-4684-0021-2 [Google Scholar]
  108. Calof, J.L. (1993). The impact of size on internationalization. Journal of Small Business Management, 31(4). [Google Scholar]
  109. Carmin, J. and VanDeveer, S.D. (2005). EU enlargement and the environment: institutional change and environmental policy in Central and Eastern Europe. Psychology Press. [Google Scholar]
  110. Carpenter, M.A. and Fredrickson, J.W. (2001). Top management teams, global strategic posture, and the moderating role of uncertainty. Academy of Management Journal, 44(3): 533–545, https://doi.org/10.2307/3069368 [Google Scholar]
  111. Carpenter, M.A., Geletkanycz, M.A. et al. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6): 749–778, https://doi.org/10.1016/j.jm.2004.06.001 [Google Scholar]
  112. Chandler, A.D. (1962). Strategy and structure: Chapters in the history of the American enterprise. Cambridge: Massachusetts Institute of Technology. [Google Scholar]
  113. Chen, X., Ender, P., Mitchell, M. and Wells, C. (2003). Regression with SPSS. Obtained from http://www.ats.ucla.edu/stat/spss/webbooks/reg/default.htm . [Google Scholar]
  114. Contractor, F.J., Kumar, V. et al. (2007). Nature of the relationship between international expansion and performance: The case of emerging market frms. Journal of World Business, 42(4): 401–417, https://doi.org/10.1016/j.jwb.2007.06.003 [Google Scholar]
  115. Coviello, N.E. and McAuley, A. (1999). Internationalisation and the smaller frm: a review of contemporary empirical research. MIR: Management International Review, 39(3): 223–256. [Google Scholar]
  116. Cui, G. and Liu, Q. (2001). Emerging Market Segments in a Transitional Economy: A Study of Urban Consumers in China. Journal of International Marketing, 9(1): 84–106, https://doi.org/10.1509/jimk.9.1.84.19833 [Google Scholar]
  117. Datta, D.K. and Rajagopalan, N. (1998). Industry structure and CEO characteristics: An empirical study of succession events. Strategic Management Journal, 19(9): 833–852. https://doi.org/10.1002/(SICI)1097-0266(199809)19:9<833::AID-SMJ971>3.0.CO;2-V [Google Scholar]
  118. Dawes, J. (1999). The relationship between subjective and objective company performance measures in market orientation research: further empirical evidence. Marketing Bulletin – Department of Marketing Massey University, 10: 65–75. [Google Scholar]
  119. Dickson, P.R. and Ginter, J.L. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2): 1–10, https://doi.org/10.2307/1251125 [Google Scholar]
  120. Dillon, W.R. and Goldstein, M. (1984). Multivariate Analysis. Methods and Applications. John Wiley & Sons, Inc. [Google Scholar]
  121. Donaldson, L. (2001). The Contingency Theory of Organizations. Thousand Oaks, CA, Sage Publications, https://doi.org/10.4135/9781452229249 [Google Scholar]
  122. Doyle, P. and Saunders, J. (1985). Market segmentation and positioning in specialized industrial markets. The Journal of Marketing, 49(2): 24–32, https://doi.org/10.2307/1251562 [Google Scholar]
  123. Duncan, R.B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly: 313–327, https://doi.org/10.2307/2392145 [Google Scholar]
  124. Field, A. (2000). Discovering Statistics using SPSS for Windows. Sage Publications. Fred van Raaij, W. and Verhallen, T.M. (1994). Domain-specifc market segmentation. European Journal of Marketing, 28(10): 49–66, https://doi.org/10.1108/03090569410075786 [Google Scholar]
  125. Garbarski, L. (2014). Creating Value for the Organization through Marketing. Management and Business Administration. Central Europe, 4(127): 60–69, https://doi.org/10.7206/mba.ce.2084-3356.119 [Google Scholar]
  126. Gavetti, G., Levinthal, D.A. et al. (2005). Strategy making in novel and complex worlds: the power of analogy. Strategic Management Journal, 26(8): 691–712, https://doi.org/10.1002/smj.475 [Google Scholar]
  127. Flynn, P.M., Tan, T.K. et al. (2017). Redefning Success: Integrating Sustainability into Management Education. Oxford: Taylor & Francis Group. [Google Scholar]
  128. Hagedoorn, J. and Cloodt, M. (2003). Measuring innovative performance: is there an advantage in using multiple indicators? Research Policy, 32(8): 1365–1379, https://doi.org/10.1016/S0048-7333(02)00137-3 [Google Scholar]
  129. Hambrick, D.C. and Mason, P.A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2): 193–206. [Google Scholar]
  130. Hayes, A.F. (2013). Introduction to Mediation, Moderation, and Conditional Process Analysis. A Regression-Based Approach. New York: The Guilford Press. [Google Scholar]
  131. Herrmann, P. and Datta, D.K. (2002). CEO successor characteristics and the choice of foreign market entry mode: An empirical study. Journal of International Business Studies, 33(3): 551–569. [Google Scholar]
  132. Herrmann, P. and Datta, D.K. (2005). Relationships between Top Management Team Characteristics and International Diversifcation: an Empirical Investigation*. British Journal of Management, 16(1): 69–78, https://doi.org/10.1111/j.1467-8551.2005.00429.x [Google Scholar]
  133. Heshmati, A. (2001). On the growth of micro and small frms: evidence from Sweden. Small Business Economics, 17(3): 213–228, https://doi.org/10.1023/A:1011886128912 [Google Scholar]
  134. Hill, C.W.L. (1988). Differentiation versus Low Cost or Differentiation and Low Cost: A Contingency Framework. The Academy of Management Review, 13(3): 401–412. [Google Scholar]
  135. Hitt, M.A., Tihanyi, L. et al. (2006). “International diversifcation: Antecedents, outcomes, and moderators. Journal of Management, 32(6): 831–867, https://doi.org/10.1177/0149206306293575 [Google Scholar]
  136. Huber, G.P. and Glick, W.H. (1993). Organizational change and redesign: Ideas and insights for improving performance. Oxford: Oxford University Press. [Google Scholar]
  137. Ingram, T., Kraśnicka, T., Wronka-Pośpiech, M., Głód, G. and Głód, W. (2016). Relationships Between Miles and Snow Strategic Types and Organizational Performance in Polish Production Companies. Journal of Management and Business Administration. Central Europe, 24(1): 17–45, https://doi.org/10.7206/jmba.ce.2450-7814.162 [Google Scholar]
  138. Kirzner, I.M. (1999). Creativity and/or alertness: A reconsideration of the Schumpeterian entrepreneur. The Review of Austrian Economics, 11(1): 5–17, https://doi.org/10.1023/A:1007719905868 [Google Scholar]
  139. Klepper, S. (1996). Entry, exit, growth, and innovation over the product life cycle. The American Economic Review, 86(3): 562–583. [Google Scholar]
  140. Klepper, S. and Graddy, E. (1990). The evolution of new industries and the determinants of market structure. The RAND Journal of Economics, 21(1): 27–44, https://doi.org/10.2307/2555491 [Google Scholar]
  141. Kor, Y.Y. (2003). Experience-based top management team competence and sustained growth. Organization Science, 14(6): 707–719, https://doi.org/10.1287/orsc.14.6.707.24867 [Google Scholar]
  142. Koźmiński, A.K. (2015). Management in the Time of »Generalized Uncertainty« the Question of Revelvance. Management and Business Administration. Central Europe, 23(4): 2–10, https://doi.org/10.7206/mba.ce.2084-3356.154 [Google Scholar]
  143. Laloux, F. (2014). Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness. Brussels: Nelson Parker. [Google Scholar]
  144. Lattin, J., Carroll, J.D. and Green, P.E. (2003). Analyzing Multivariate Data. Brooks/Cole. Thomson Learning, Inc. [Google Scholar]
  145. Lee, J. and Miller, D. (1996). Strategy, Environment and Performance in Two Technological Contexts: Contingency Theory in Korea. Organization Studies, 17(5): 729–750, https://doi.org/10.1177/017084069601700502 [Google Scholar]
  146. Lee, K.S., Lim, G.H. et al. (1999). Dealing with resource disadvantage: Generic strategies for SMEs. Small Business Economics, 12(4): 299–311, https://doi.org/10.1023/A:1008085310245 [Google Scholar]
  147. Lee, K.S., Lim, G.H. et al. (2001). Generic marketing strategies for small and medium-sized enterprises– conceptual framework and examples from Asia. Journal of Strategic Marketing, 9(2): 145–162, https://doi.org/10.1080/09652540122176 [Google Scholar]
  148. Levinthal, D.A. and March, J.G. (1993). The myopia of learning. Strategic Management Journal, 14(S2): 95–112, https://doi.org/10.1002/smj.4250141009 [Google Scholar]
  149. Lewis, M.W. and Grimes, A.I. (1999). Metatriangulation: Building theory from multiple paradigms. Academy of Management Review, 24(4): 672–690. [Google Scholar]
  150. Mallick, D.N. and Chaudhury, A. (2000). Technology management education in MBA programs: a comparative study of knowledge and skill requirements. Journal of Engineering and Technology Management, 17(2): 153–173, https://doi.org/10.1016/S0923-4748(00)00019-9 [Google Scholar]
  151. Manolova, T.S., Eunni, R.V. et al. (2008). Institutional environments for entrepreneurship: Evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice, 32(1): 203–218, https://doi.org/10.1111/j.1540-6520.2007.00222.x [Google Scholar]
  152. March, J.G. (1991). “Exploration and exploitation in organizational learning. Organization Science, 2(1): 71–87, https://doi.org/10.1287/orsc.2.1.71 [Google Scholar]
  153. McKiernan, P. and Purg, D. (2013). Hidden Champions in CEE and Turkey. Springer. https://doi.org/10.1007/978-3-642-40504-4 [Google Scholar]
  154. Miller, D. (1982). Evolution and revolution: A quantum view of structural change in organizations. Journal of Management Studies, 19(2): 131–151, https://doi.org/10.1111/j.1467-6486.1982.tb00064.x [Google Scholar]
  155. Miller, D. (1988). Relating Porter’s business strategies to environment and structure: Analysis and performance implications. Academy of Management Journal, 31(2): 280–308, https://doi.org/10.2307/256549 [Google Scholar]
  156. Miller, D. (1991). Stale in the saddle: CEO tenure and the match between organization and environment. Management Science, 37(1): 34–52, https://doi.org/10.1287/mnsc.37.1.34 [Google Scholar]
  157. Miller, D. and Shamsie, J. (1999). Learning across the life cycle: Experimentation and performance among Hollywood studio heads. Academy of Management Proceedings. Academy of Management, August (Meeting Abstract Supplement). [Google Scholar]
  158. Miller, D. and Toulouse, J.-M. (1986). Chief executive personality and corporate strategy and structure in small frms. Management Science, 32(11): 1389–1409, https://doi.org/10.1287/mnsc.32.11.1389 [Google Scholar]
  159. Miller, D. and Friesen, P.H. (1983). Strategy-making and environment: the third link. Strategic Management Journal, 4(3): 221–235, https://doi.org/10.1002/smj.4250040304 [Google Scholar]
  160. Parnell, J.A., Lester, D.L. et al. (2000). Strategy as a response to organizational uncertainty: an alternative perspective on the strategy-performance relationship. Management Decision, 38(8): 520–530, https://doi.org/10.1108/00251740010352811 [Google Scholar]
  161. Parnell, J.A., Lester, D.L. et al. (2012). How environmental uncertainty affects the link between business strategy and performance in SMEs: Evidence from China, Turkey, and the USA. Management Decision, 50(4): 546–568, https://doi.org/10.1108/00251741211220129 [Google Scholar]
  162. Pissarides, F. (1999). Is lack of funds the main obstacle to growth? EBRD’s experience with smalland medium-sized businesses in Central and Eastern Europe. Journal of Business Venturing, 14(5): 519–539, https://doi.org/10.1016/S0883-9026(98)00027-5 [Google Scholar]
  163. Porter, M.E. (1980). Competitive Strategy. New York: Free Press. [Google Scholar]
  164. Porter, M.E. (1985). Competitive Advantage. New York: Free Press. [Google Scholar]
  165. Randøy, T. and Goel, S. (2003). Ownership structure, founder leadership, and performance in Norwegian SMEs: implications for fnancing entrepreneurial opportunities. Journal of Business Venturing, 18(5): 619–637, https://doi.org/10.1016/S0883-9026(03)00013-2 [Google Scholar]
  166. Ruef, M. and Scott, W.R. (1998). A multidimensional model of organizational legitimacy: Hospital survival in changing institutional environments. Administrative Science Quarterly, 43(4): 877–904, https://doi.org/10.2307/2393619 [Google Scholar]
  167. Scharmer, O. (2009). Theory U: Leading form the Future as It Emerges. San Francisco: Berrett-Koehler Publishers. [Google Scholar]
  168. Schmidt-Wilk, J., Heaton, D.P. et al. (2000). Higher education for higher consciousness: Maharishi University of Management as a model for spirituality in management education. Journal of Management Education, 24(5): 580–611, https://doi.org/10.1177/105256290002400505 [Google Scholar]
  169. Schumpeter, J.A. (1947). The creative response in economic history. The Journal of Economic History, 7(02): 149–159, https://doi.org/10.1017/S0022050700054279 [Google Scholar]
  170. Sidor, J. (2015). Debate Over Rigor and Relevance in Scientifc Study of Management. Management and Business Administration. Central Europe, 23(3): 32–46, https://doi.org/10.7206/mba.ce.2084-3356.149 [Google Scholar]
  171. Simon, H. (1996a). Hidden champions : Lessons from 500 of the world’s best unknown companies. Boston (Mass.): Harvard Business School Press. [Google Scholar]
  172. Simon, H. (1996b). You don’t Have to be German to be a “Hidden Champion”. Business Strategy Review, 7(2): 1–13, https://doi.org/10.1111/j.1467-8616.1996.tb00118.x [Google Scholar]
  173. Simon, H. (2009). Hidden champions of the twenty-frst century: The success strategies of unknown world market leaders. Springer Science & Business Media, https://doi.org/10.1007/978-0-387-98147-5 [Google Scholar]
  174. Smith, W.R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1): 3–8, https://doi.org/10.2307/1247695 [Google Scholar]
  175. Svetličič, M., Jaklič, A. et al. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4): 36–65, https://doi.org/10.2753/EEE0012-8775450402 [Google Scholar]
  176. Thomas, A.S., Litschert, R.J. et al. (1991). The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal, 12(7): 509–522, https://doi.org/10.1002/smj.4250120704 [Google Scholar]
  177. Tripsas, M. and Gavetti, G. (2000). Capabilities, cognition, and inertia: Evidence from digital imaging. Strategic Management Journal, 21(10–11): 1147–1161, https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1147::AID-SMJ128>3.0.CO;2-R [Google Scholar]
  178. Tushman, M.L., Newman, W.H. et al. (1986). Convergence and upheaval: Managing the unsteady pace of organizational evolution. California Management Review, 29(1): 29–44, https://doi.org/10.2307/41165225 [Google Scholar]
  179. Verhees, F.J. and Meulenberg, M.T. (2004). Market orientation, innovativeness, product innovation, and performance in small frms. Journal of Small Business Management, 42(2): 134–154, https://doi.org/10.1111/j.1540-627X.2004.00102.x [Google Scholar]
  180. Waldman, D.A., Ramirez, G.G. et al. (2001). Does leadership matter? CEO leadership attributes and proftability under conditions of perceived environmental uncertainty. Academy of Management Journal, 44(1): 134–143, https://doi.org/10.2307/3069341 [Google Scholar]
  181. Wally, S. and Baum, J.R. (1994). Personal and structural determinants of the pace of strategic decision making. Academy of Management Journal, 37(4): 932–956, https://doi.org/10.2307/256605 [Google Scholar]
  182. Weiner, N. and Mahoney, T.A. (1981). A model of corporate performance as a function of environmental, organizational, and leadership influences. Academy of Management Journal, 24(3): 453–470, https://doi.org/10.2307/255568 [Google Scholar]
  183. Wiersema, M.F. and Bantel, K.A. (1992). Top management team demography and corporate strategic change. Academy of Management Journal, 35(1): 91–121, https://doi.org/10.2307/256474 [Google Scholar]
  184. Xie, Y. H. and T. Suh (2014). Perceived resource defciency and internationalization of small-and medium-sized frms. Journal of International Entrepreneurship, 12(3): 207–229, https://doi.org/10.1007/s10843-014-0121-9 [Google Scholar]
  185. Adner, R. and Zemsky, P. (2012). Competitive Positioning and Generic Strategies: Revisiting the ‘Stuck in the Middle’ proposition. Working Paper. Tuck Business School. [Google Scholar]
  186. Adner, R., Csaszar, F.A. et al. (2014). Positioning on a multiattribute landscape. Management Science, 60(11): 2794–2815, https://doi.org/10.1287/mnsc.2014.1978 [Google Scholar]
  187. Al-alak, B.A. and Tarabieh, S. (2011). Gaining competitive advantage and organizational performance through customer orientation, innovation differentiation and market differentiation. International Journal of Economics and Management Sciences, 1(5): 80–91. [Google Scholar]
  188. Azimont, F. and Araujo, L. (2007). Category reviews as market-shaping events. Industrial Marketing Management, 36(7): 849–860, https://doi.org/10.1016/j.indmarman.2007.05.012 [Google Scholar]
  189. Bantel, K.A. and Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, 10: 107, https://doi.org/10.1002/smj.4250100709 [Google Scholar]
  190. Barrett, R. (2016). A New Psychology of Human Well-Being: An Exploration of the Influence of Ego-Soul Dynamics on Mental and Physical Health. Lulu. com. [Google Scholar]
  191. Bartelsman, E., Scarpetta, S. et al. (2005). Comparative analysis of frm demographics and survival: evidence from micro-level sources in OECD countries. Industrial and Corporate Change, 14(3): 365–391, https://doi.org/10.1093/icc/dth057 [Google Scholar]
  192. Bartlett, W. and Bukvič, V. (2001). Barriers to SME growth in Slovenia. MOST: Economic Policy in Transitional Economies, 11(2): 177–195, https://doi.org/10.1023/A:1012206414785 [Google Scholar]
  193. Baum, J.A. (1999). Organizational ecology. In: S.R. Clegg and C. Hardy (eds.), Studying Organization: Theory and Method. Sage. [Google Scholar]
  194. Baum, J.A. and Singh, J.V. (1994). Organization-environment coevolution. In: Evolutionary dynamics of organizations. Oxford University Press. [Google Scholar]
  195. Bergh, D.D. (2001). Executive retention and acquisition outcomes: A test of opposing views on the influence of organizational tenure. Journal of Management, 27(5): 603–622, https://doi.org/10.1177/014920630102700506 [Google Scholar]
  196. Berson, Y., Nemanich, L.A. et al. (2006). Leadership and organizational learning: A multiple levels perspective. The Leadership Quarterly, 17(6): 577–594, https://doi.org/10.1016/j.leaqua.2006.10.003 [Google Scholar]
  197. Bower, J.L. (1986). Managing the resource allocation process: A study of corporate planning and investment. Harvard Business Press. [Google Scholar]
  198. Burgelman, R.A. (1983). A process model of internal corporate venturing in the diversifed major frm. Administrative Science Quarterly, 28: 223–244, https://doi.org/10.2307/2392619 [Google Scholar]
  199. Burton, R.M. and Obel, B. (1998). Strategic organizational diagnosis and design: Developing theory for application. Springer, https://doi.org/10.1007/978-1-4684-0021-2 [Google Scholar]
  200. Calof, J.L. (1993). The impact of size on internationalization. Journal of Small Business Management, 31(4). [Google Scholar]
  201. Carmin, J. and VanDeveer, S.D. (2005). EU enlargement and the environment: institutional change and environmental policy in Central and Eastern Europe. Psychology Press. [Google Scholar]
  202. Carpenter, M.A. and Fredrickson, J.W. (2001). Top management teams, global strategic posture, and the moderating role of uncertainty. Academy of Management Journal, 44(3): 533–545, https://doi.org/10.2307/3069368 [Google Scholar]
  203. Carpenter, M.A., Geletkanycz, M.A. et al. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6): 749–778, https://doi.org/10.1016/j.jm.2004.06.001 [Google Scholar]
  204. Chandler, A.D. (1962). Strategy and structure: Chapters in the history of the American enterprise. Cambridge: Massachusetts Institute of Technology. [Google Scholar]
  205. Chen, X., Ender, P., Mitchell, M. and Wells, C. (2003). Regression with SPSS. Obtained from http://www.ats.ucla.edu/stat/spss/webbooks/reg/default.htm . [Google Scholar]
  206. Contractor, F.J., Kumar, V. et al. (2007). Nature of the relationship between international expansion and performance: The case of emerging market frms. Journal of World Business, 42(4): 401–417, https://doi.org/10.1016/j.jwb.2007.06.003 [Google Scholar]
  207. Coviello, N.E. and McAuley, A. (1999). Internationalisation and the smaller frm: a review of contemporary empirical research. MIR: Management International Review, 39(3): 223–256. [Google Scholar]
  208. Cui, G. and Liu, Q. (2001). Emerging Market Segments in a Transitional Economy: A Study of Urban Consumers in China. Journal of International Marketing, 9(1): 84–106, https://doi.org/10.1509/jimk.9.1.84.19833 [Google Scholar]
  209. Datta, D.K. and Rajagopalan, N. (1998). Industry structure and CEO characteristics: An empirical study of succession events. Strategic Management Journal, 19(9): 833–852. https://doi.org/10.1002/(SICI)1097-0266(199809)19:9<833::AID-SMJ971>3.0.CO;2-V [Google Scholar]
  210. Dawes, J. (1999). The relationship between subjective and objective company performance measures in market orientation research: further empirical evidence. Marketing Bulletin – Department of Marketing Massey University, 10: 65–75. [Google Scholar]
  211. Dickson, P.R. and Ginter, J.L. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2): 1–10, https://doi.org/10.2307/1251125 [Google Scholar]
  212. Dillon, W.R. and Goldstein, M. (1984). Multivariate Analysis. Methods and Applications. John Wiley & Sons, Inc. [Google Scholar]
  213. Donaldson, L. (2001). The Contingency Theory of Organizations. Thousand Oaks, CA, Sage Publications, https://doi.org/10.4135/9781452229249 [Google Scholar]
  214. Doyle, P. and Saunders, J. (1985). Market segmentation and positioning in specialized industrial markets. The Journal of Marketing, 49(2): 24–32, https://doi.org/10.2307/1251562 [Google Scholar]
  215. Duncan, R.B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly: 313–327, https://doi.org/10.2307/2392145 [Google Scholar]
  216. Field, A. (2000). Discovering Statistics using SPSS for Windows. Sage Publications. Fred van Raaij, W. and Verhallen, T.M. (1994). Domain-specifc market segmentation. European Journal of Marketing, 28(10): 49–66, https://doi.org/10.1108/03090569410075786 [Google Scholar]
  217. Garbarski, L. (2014). Creating Value for the Organization through Marketing. Management and Business Administration. Central Europe, 4(127): 60–69, https://doi.org/10.7206/mba.ce.2084-3356.119 [Google Scholar]
  218. Gavetti, G., Levinthal, D.A. et al. (2005). Strategy making in novel and complex worlds: the power of analogy. Strategic Management Journal, 26(8): 691–712, https://doi.org/10.1002/smj.475 [Google Scholar]
  219. Flynn, P.M., Tan, T.K. et al. (2017). Redefning Success: Integrating Sustainability into Management Education. Oxford: Taylor & Francis Group. [Google Scholar]
  220. Hagedoorn, J. and Cloodt, M. (2003). Measuring innovative performance: is there an advantage in using multiple indicators? Research Policy, 32(8): 1365–1379, https://doi.org/10.1016/S0048-7333(02)00137-3 [Google Scholar]
  221. Hambrick, D.C. and Mason, P.A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2): 193–206. [Google Scholar]
  222. Hayes, A.F. (2013). Introduction to Mediation, Moderation, and Conditional Process Analysis. A Regression-Based Approach. New York: The Guilford Press. [Google Scholar]
  223. Herrmann, P. and Datta, D.K. (2002). CEO successor characteristics and the choice of foreign market entry mode: An empirical study. Journal of International Business Studies, 33(3): 551–569. [Google Scholar]
  224. Herrmann, P. and Datta, D.K. (2005). Relationships between Top Management Team Characteristics and International Diversifcation: an Empirical Investigation*. British Journal of Management, 16(1): 69–78, https://doi.org/10.1111/j.1467-8551.2005.00429.x [Google Scholar]
  225. Heshmati, A. (2001). On the growth of micro and small frms: evidence from Sweden. Small Business Economics, 17(3): 213–228, https://doi.org/10.1023/A:1011886128912 [Google Scholar]
  226. Hill, C.W.L. (1988). Differentiation versus Low Cost or Differentiation and Low Cost: A Contingency Framework. The Academy of Management Review, 13(3): 401–412. [Google Scholar]
  227. Hitt, M.A., Tihanyi, L. et al. (2006). “International diversifcation: Antecedents, outcomes, and moderators. Journal of Management, 32(6): 831–867, https://doi.org/10.1177/0149206306293575 [Google Scholar]
  228. Huber, G.P. and Glick, W.H. (1993). Organizational change and redesign: Ideas and insights for improving performance. Oxford: Oxford University Press. [Google Scholar]
  229. Ingram, T., Kraśnicka, T., Wronka-Pośpiech, M., Głód, G. and Głód, W. (2016). Relationships Between Miles and Snow Strategic Types and Organizational Performance in Polish Production Companies. Journal of Management and Business Administration. Central Europe, 24(1): 17–45, https://doi.org/10.7206/jmba.ce.2450-7814.162 [Google Scholar]
  230. Kirzner, I.M. (1999). Creativity and/or alertness: A reconsideration of the Schumpeterian entrepreneur. The Review of Austrian Economics, 11(1): 5–17, https://doi.org/10.1023/A:1007719905868 [Google Scholar]
  231. Klepper, S. (1996). Entry, exit, growth, and innovation over the product life cycle. The American Economic Review, 86(3): 562–583. [Google Scholar]
  232. Klepper, S. and Graddy, E. (1990). The evolution of new industries and the determinants of market structure. The RAND Journal of Economics, 21(1): 27–44, https://doi.org/10.2307/2555491 [Google Scholar]
  233. Kor, Y.Y. (2003). Experience-based top management team competence and sustained growth. Organization Science, 14(6): 707–719, https://doi.org/10.1287/orsc.14.6.707.24867 [Google Scholar]
  234. Koźmiński, A.K. (2015). Management in the Time of »Generalized Uncertainty« the Question of Revelvance. Management and Business Administration. Central Europe, 23(4): 2–10, https://doi.org/10.7206/mba.ce.2084-3356.154 [Google Scholar]
  235. Laloux, F. (2014). Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness. Brussels: Nelson Parker. [Google Scholar]
  236. Lattin, J., Carroll, J.D. and Green, P.E. (2003). Analyzing Multivariate Data. Brooks/Cole. Thomson Learning, Inc. [Google Scholar]
  237. Lee, J. and Miller, D. (1996). Strategy, Environment and Performance in Two Technological Contexts: Contingency Theory in Korea. Organization Studies, 17(5): 729–750, https://doi.org/10.1177/017084069601700502 [Google Scholar]
  238. Lee, K.S., Lim, G.H. et al. (1999). Dealing with resource disadvantage: Generic strategies for SMEs. Small Business Economics, 12(4): 299–311, https://doi.org/10.1023/A:1008085310245 [Google Scholar]
  239. Lee, K.S., Lim, G.H. et al. (2001). Generic marketing strategies for small and medium-sized enterprises– conceptual framework and examples from Asia. Journal of Strategic Marketing, 9(2): 145–162, https://doi.org/10.1080/09652540122176 [Google Scholar]
  240. Levinthal, D.A. and March, J.G. (1993). The myopia of learning. Strategic Management Journal, 14(S2): 95–112, https://doi.org/10.1002/smj.4250141009 [Google Scholar]
  241. Lewis, M.W. and Grimes, A.I. (1999). Metatriangulation: Building theory from multiple paradigms. Academy of Management Review, 24(4): 672–690. [Google Scholar]
  242. Mallick, D.N. and Chaudhury, A. (2000). Technology management education in MBA programs: a comparative study of knowledge and skill requirements. Journal of Engineering and Technology Management, 17(2): 153–173, https://doi.org/10.1016/S0923-4748(00)00019-9 [Google Scholar]
  243. Manolova, T.S., Eunni, R.V. et al. (2008). Institutional environments for entrepreneurship: Evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice, 32(1): 203–218, https://doi.org/10.1111/j.1540-6520.2007.00222.x [Google Scholar]
  244. March, J.G. (1991). “Exploration and exploitation in organizational learning. Organization Science, 2(1): 71–87, https://doi.org/10.1287/orsc.2.1.71 [Google Scholar]
  245. McKiernan, P. and Purg, D. (2013). Hidden Champions in CEE and Turkey. Springer. https://doi.org/10.1007/978-3-642-40504-4 [Google Scholar]
  246. Miller, D. (1982). Evolution and revolution: A quantum view of structural change in organizations. Journal of Management Studies, 19(2): 131–151, https://doi.org/10.1111/j.1467-6486.1982.tb00064.x [Google Scholar]
  247. Miller, D. (1988). Relating Porter’s business strategies to environment and structure: Analysis and performance implications. Academy of Management Journal, 31(2): 280–308, https://doi.org/10.2307/256549 [Google Scholar]
  248. Miller, D. (1991). Stale in the saddle: CEO tenure and the match between organization and environment. Management Science, 37(1): 34–52, https://doi.org/10.1287/mnsc.37.1.34 [Google Scholar]
  249. Miller, D. and Shamsie, J. (1999). Learning across the life cycle: Experimentation and performance among Hollywood studio heads. Academy of Management Proceedings. Academy of Management, August (Meeting Abstract Supplement). [Google Scholar]
  250. Miller, D. and Toulouse, J.-M. (1986). Chief executive personality and corporate strategy and structure in small frms. Management Science, 32(11): 1389–1409, https://doi.org/10.1287/mnsc.32.11.1389 [Google Scholar]
  251. Miller, D. and Friesen, P.H. (1983). Strategy-making and environment: the third link. Strategic Management Journal, 4(3): 221–235, https://doi.org/10.1002/smj.4250040304 [Google Scholar]
  252. Parnell, J.A., Lester, D.L. et al. (2000). Strategy as a response to organizational uncertainty: an alternative perspective on the strategy-performance relationship. Management Decision, 38(8): 520–530, https://doi.org/10.1108/00251740010352811 [Google Scholar]
  253. Parnell, J.A., Lester, D.L. et al. (2012). How environmental uncertainty affects the link between business strategy and performance in SMEs: Evidence from China, Turkey, and the USA. Management Decision, 50(4): 546–568, https://doi.org/10.1108/00251741211220129 [Google Scholar]
  254. Pissarides, F. (1999). Is lack of funds the main obstacle to growth? EBRD’s experience with smalland medium-sized businesses in Central and Eastern Europe. Journal of Business Venturing, 14(5): 519–539, https://doi.org/10.1016/S0883-9026(98)00027-5 [Google Scholar]
  255. Porter, M.E. (1980). Competitive Strategy. New York: Free Press. [Google Scholar]
  256. Porter, M.E. (1985). Competitive Advantage. New York: Free Press. [Google Scholar]
  257. Randøy, T. and Goel, S. (2003). Ownership structure, founder leadership, and performance in Norwegian SMEs: implications for fnancing entrepreneurial opportunities. Journal of Business Venturing, 18(5): 619–637, https://doi.org/10.1016/S0883-9026(03)00013-2 [Google Scholar]
  258. Ruef, M. and Scott, W.R. (1998). A multidimensional model of organizational legitimacy: Hospital survival in changing institutional environments. Administrative Science Quarterly, 43(4): 877–904, https://doi.org/10.2307/2393619 [Google Scholar]
  259. Scharmer, O. (2009). Theory U: Leading form the Future as It Emerges. San Francisco: Berrett-Koehler Publishers. [Google Scholar]
  260. Schmidt-Wilk, J., Heaton, D.P. et al. (2000). Higher education for higher consciousness: Maharishi University of Management as a model for spirituality in management education. Journal of Management Education, 24(5): 580–611, https://doi.org/10.1177/105256290002400505 [Google Scholar]
  261. Schumpeter, J.A. (1947). The creative response in economic history. The Journal of Economic History, 7(02): 149–159, https://doi.org/10.1017/S0022050700054279 [Google Scholar]
  262. Sidor, J. (2015). Debate Over Rigor and Relevance in Scientifc Study of Management. Management and Business Administration. Central Europe, 23(3): 32–46, https://doi.org/10.7206/mba.ce.2084-3356.149 [Google Scholar]
  263. Simon, H. (1996a). Hidden champions : Lessons from 500 of the world’s best unknown companies. Boston (Mass.): Harvard Business School Press. [Google Scholar]
  264. Simon, H. (1996b). You don’t Have to be German to be a “Hidden Champion”. Business Strategy Review, 7(2): 1–13, https://doi.org/10.1111/j.1467-8616.1996.tb00118.x [Google Scholar]
  265. Simon, H. (2009). Hidden champions of the twenty-frst century: The success strategies of unknown world market leaders. Springer Science & Business Media, https://doi.org/10.1007/978-0-387-98147-5 [Google Scholar]
  266. Smith, W.R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1): 3–8, https://doi.org/10.2307/1247695 [Google Scholar]
  267. Svetličič, M., Jaklič, A. et al. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4): 36–65, https://doi.org/10.2753/EEE0012-8775450402 [Google Scholar]
  268. Thomas, A.S., Litschert, R.J. et al. (1991). The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal, 12(7): 509–522, https://doi.org/10.1002/smj.4250120704 [Google Scholar]
  269. Tripsas, M. and Gavetti, G. (2000). Capabilities, cognition, and inertia: Evidence from digital imaging. Strategic Management Journal, 21(10–11): 1147–1161, https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1147::AID-SMJ128>3.0.CO;2-R [Google Scholar]
  270. Tushman, M.L., Newman, W.H. et al. (1986). Convergence and upheaval: Managing the unsteady pace of organizational evolution. California Management Review, 29(1): 29–44, https://doi.org/10.2307/41165225 [Google Scholar]
  271. Verhees, F.J. and Meulenberg, M.T. (2004). Market orientation, innovativeness, product innovation, and performance in small frms. Journal of Small Business Management, 42(2): 134–154, https://doi.org/10.1111/j.1540-627X.2004.00102.x [Google Scholar]
  272. Waldman, D.A., Ramirez, G.G. et al. (2001). Does leadership matter? CEO leadership attributes and proftability under conditions of perceived environmental uncertainty. Academy of Management Journal, 44(1): 134–143, https://doi.org/10.2307/3069341 [Google Scholar]
  273. Wally, S. and Baum, J.R. (1994). Personal and structural determinants of the pace of strategic decision making. Academy of Management Journal, 37(4): 932–956, https://doi.org/10.2307/256605 [Google Scholar]
  274. Weiner, N. and Mahoney, T.A. (1981). A model of corporate performance as a function of environmental, organizational, and leadership influences. Academy of Management Journal, 24(3): 453–470, https://doi.org/10.2307/255568 [Google Scholar]
  275. Wiersema, M.F. and Bantel, K.A. (1992). Top management team demography and corporate strategic change. Academy of Management Journal, 35(1): 91–121, https://doi.org/10.2307/256474 [Google Scholar]
  276. Xie, Y. H. and T. Suh (2014). Perceived resource defciency and internationalization of small-and medium-sized frms. Journal of International Entrepreneurship, 12(3): 207–229, https://doi.org/10.1007/s10843-014-0121-9 [Google Scholar]
  277. Adner, R. and Zemsky, P. (2012). Competitive Positioning and Generic Strategies: Revisiting the ‘Stuck in the Middle’ proposition. Working Paper. Tuck Business School. [Google Scholar]
  278. Adner, R., Csaszar, F.A. et al. (2014). Positioning on a multiattribute landscape. Management Science, 60(11): 2794–2815, https://doi.org/10.1287/mnsc.2014.1978 [Google Scholar]
  279. Al-alak, B.A. and Tarabieh, S. (2011). Gaining competitive advantage and organizational performance through customer orientation, innovation differentiation and market differentiation. International Journal of Economics and Management Sciences, 1(5): 80–91. [Google Scholar]
  280. Azimont, F. and Araujo, L. (2007). Category reviews as market-shaping events. Industrial Marketing Management, 36(7): 849–860, https://doi.org/10.1016/j.indmarman.2007.05.012 [Google Scholar]
  281. Bantel, K.A. and Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, 10: 107, https://doi.org/10.1002/smj.4250100709 [Google Scholar]
  282. Barrett, R. (2016). A New Psychology of Human Well-Being: An Exploration of the Influence of Ego-Soul Dynamics on Mental and Physical Health. Lulu. com. [Google Scholar]
  283. Bartelsman, E., Scarpetta, S. et al. (2005). Comparative analysis of frm demographics and survival: evidence from micro-level sources in OECD countries. Industrial and Corporate Change, 14(3): 365–391, https://doi.org/10.1093/icc/dth057 [Google Scholar]
  284. Bartlett, W. and Bukvič, V. (2001). Barriers to SME growth in Slovenia. MOST: Economic Policy in Transitional Economies, 11(2): 177–195, https://doi.org/10.1023/A:1012206414785 [Google Scholar]
  285. Baum, J.A. (1999). Organizational ecology. In: S.R. Clegg and C. Hardy (eds.), Studying Organization: Theory and Method. Sage. [Google Scholar]
  286. Baum, J.A. and Singh, J.V. (1994). Organization-environment coevolution. In: Evolutionary dynamics of organizations. Oxford University Press. [Google Scholar]
  287. Bergh, D.D. (2001). Executive retention and acquisition outcomes: A test of opposing views on the influence of organizational tenure. Journal of Management, 27(5): 603–622, https://doi.org/10.1177/014920630102700506 [Google Scholar]
  288. Berson, Y., Nemanich, L.A. et al. (2006). Leadership and organizational learning: A multiple levels perspective. The Leadership Quarterly, 17(6): 577–594, https://doi.org/10.1016/j.leaqua.2006.10.003 [Google Scholar]
  289. Bower, J.L. (1986). Managing the resource allocation process: A study of corporate planning and investment. Harvard Business Press. [Google Scholar]
  290. Burgelman, R.A. (1983). A process model of internal corporate venturing in the diversifed major frm. Administrative Science Quarterly, 28: 223–244, https://doi.org/10.2307/2392619 [Google Scholar]
  291. Burton, R.M. and Obel, B. (1998). Strategic organizational diagnosis and design: Developing theory for application. Springer, https://doi.org/10.1007/978-1-4684-0021-2 [Google Scholar]
  292. Calof, J.L. (1993). The impact of size on internationalization. Journal of Small Business Management, 31(4). [Google Scholar]
  293. Carmin, J. and VanDeveer, S.D. (2005). EU enlargement and the environment: institutional change and environmental policy in Central and Eastern Europe. Psychology Press. [Google Scholar]
  294. Carpenter, M.A. and Fredrickson, J.W. (2001). Top management teams, global strategic posture, and the moderating role of uncertainty. Academy of Management Journal, 44(3): 533–545, https://doi.org/10.2307/3069368 [Google Scholar]
  295. Carpenter, M.A., Geletkanycz, M.A. et al. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6): 749–778, https://doi.org/10.1016/j.jm.2004.06.001 [Google Scholar]
  296. Chandler, A.D. (1962). Strategy and structure: Chapters in the history of the American enterprise. Cambridge: Massachusetts Institute of Technology. [Google Scholar]
  297. Chen, X., Ender, P., Mitchell, M. and Wells, C. (2003). Regression with SPSS. Obtained from http://www.ats.ucla.edu/stat/spss/webbooks/reg/default.htm . [Google Scholar]
  298. Contractor, F.J., Kumar, V. et al. (2007). Nature of the relationship between international expansion and performance: The case of emerging market frms. Journal of World Business, 42(4): 401–417, https://doi.org/10.1016/j.jwb.2007.06.003 [Google Scholar]
  299. Coviello, N.E. and McAuley, A. (1999). Internationalisation and the smaller frm: a review of contemporary empirical research. MIR: Management International Review, 39(3): 223–256. [Google Scholar]
  300. Cui, G. and Liu, Q. (2001). Emerging Market Segments in a Transitional Economy: A Study of Urban Consumers in China. Journal of International Marketing, 9(1): 84–106, https://doi.org/10.1509/jimk.9.1.84.19833 [Google Scholar]
  301. Datta, D.K. and Rajagopalan, N. (1998). Industry structure and CEO characteristics: An empirical study of succession events. Strategic Management Journal, 19(9): 833–852. https://doi.org/10.1002/(SICI)1097-0266(199809)19:9<833::AID-SMJ971>3.0.CO;2-V [Google Scholar]
  302. Dawes, J. (1999). The relationship between subjective and objective company performance measures in market orientation research: further empirical evidence. Marketing Bulletin – Department of Marketing Massey University, 10: 65–75. [Google Scholar]
  303. Dickson, P.R. and Ginter, J.L. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2): 1–10, https://doi.org/10.2307/1251125 [Google Scholar]
  304. Dillon, W.R. and Goldstein, M. (1984). Multivariate Analysis. Methods and Applications. John Wiley & Sons, Inc. [Google Scholar]
  305. Donaldson, L. (2001). The Contingency Theory of Organizations. Thousand Oaks, CA, Sage Publications, https://doi.org/10.4135/9781452229249 [Google Scholar]
  306. Doyle, P. and Saunders, J. (1985). Market segmentation and positioning in specialized industrial markets. The Journal of Marketing, 49(2): 24–32, https://doi.org/10.2307/1251562 [Google Scholar]
  307. Duncan, R.B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly: 313–327, https://doi.org/10.2307/2392145 [Google Scholar]
  308. Field, A. (2000). Discovering Statistics using SPSS for Windows. Sage Publications. Fred van Raaij, W. and Verhallen, T.M. (1994). Domain-specifc market segmentation. European Journal of Marketing, 28(10): 49–66, https://doi.org/10.1108/03090569410075786 [Google Scholar]
  309. Garbarski, L. (2014). Creating Value for the Organization through Marketing. Management and Business Administration. Central Europe, 4(127): 60–69, https://doi.org/10.7206/mba.ce.2084-3356.119 [Google Scholar]
  310. Gavetti, G., Levinthal, D.A. et al. (2005). Strategy making in novel and complex worlds: the power of analogy. Strategic Management Journal, 26(8): 691–712, https://doi.org/10.1002/smj.475 [Google Scholar]
  311. Flynn, P.M., Tan, T.K. et al. (2017). Redefning Success: Integrating Sustainability into Management Education. Oxford: Taylor & Francis Group. [Google Scholar]
  312. Hagedoorn, J. and Cloodt, M. (2003). Measuring innovative performance: is there an advantage in using multiple indicators? Research Policy, 32(8): 1365–1379, https://doi.org/10.1016/S0048-7333(02)00137-3 [Google Scholar]
  313. Hambrick, D.C. and Mason, P.A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2): 193–206. [Google Scholar]
  314. Hayes, A.F. (2013). Introduction to Mediation, Moderation, and Conditional Process Analysis. A Regression-Based Approach. New York: The Guilford Press. [Google Scholar]
  315. Herrmann, P. and Datta, D.K. (2002). CEO successor characteristics and the choice of foreign market entry mode: An empirical study. Journal of International Business Studies, 33(3): 551–569. [Google Scholar]
  316. Herrmann, P. and Datta, D.K. (2005). Relationships between Top Management Team Characteristics and International Diversifcation: an Empirical Investigation*. British Journal of Management, 16(1): 69–78, https://doi.org/10.1111/j.1467-8551.2005.00429.x [Google Scholar]
  317. Heshmati, A. (2001). On the growth of micro and small frms: evidence from Sweden. Small Business Economics, 17(3): 213–228, https://doi.org/10.1023/A:1011886128912 [Google Scholar]
  318. Hill, C.W.L. (1988). Differentiation versus Low Cost or Differentiation and Low Cost: A Contingency Framework. The Academy of Management Review, 13(3): 401–412. [Google Scholar]
  319. Hitt, M.A., Tihanyi, L. et al. (2006). “International diversifcation: Antecedents, outcomes, and moderators. Journal of Management, 32(6): 831–867, https://doi.org/10.1177/0149206306293575 [Google Scholar]
  320. Huber, G.P. and Glick, W.H. (1993). Organizational change and redesign: Ideas and insights for improving performance. Oxford: Oxford University Press. [Google Scholar]
  321. Ingram, T., Kraśnicka, T., Wronka-Pośpiech, M., Głód, G. and Głód, W. (2016). Relationships Between Miles and Snow Strategic Types and Organizational Performance in Polish Production Companies. Journal of Management and Business Administration. Central Europe, 24(1): 17–45, https://doi.org/10.7206/jmba.ce.2450-7814.162 [Google Scholar]
  322. Kirzner, I.M. (1999). Creativity and/or alertness: A reconsideration of the Schumpeterian entrepreneur. The Review of Austrian Economics, 11(1): 5–17, https://doi.org/10.1023/A:1007719905868 [Google Scholar]
  323. Klepper, S. (1996). Entry, exit, growth, and innovation over the product life cycle. The American Economic Review, 86(3): 562–583. [Google Scholar]
  324. Klepper, S. and Graddy, E. (1990). The evolution of new industries and the determinants of market structure. The RAND Journal of Economics, 21(1): 27–44, https://doi.org/10.2307/2555491 [Google Scholar]
  325. Kor, Y.Y. (2003). Experience-based top management team competence and sustained growth. Organization Science, 14(6): 707–719, https://doi.org/10.1287/orsc.14.6.707.24867 [Google Scholar]
  326. Koźmiński, A.K. (2015). Management in the Time of »Generalized Uncertainty« the Question of Revelvance. Management and Business Administration. Central Europe, 23(4): 2–10, https://doi.org/10.7206/mba.ce.2084-3356.154 [Google Scholar]
  327. Laloux, F. (2014). Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness. Brussels: Nelson Parker. [Google Scholar]
  328. Lattin, J., Carroll, J.D. and Green, P.E. (2003). Analyzing Multivariate Data. Brooks/Cole. Thomson Learning, Inc. [Google Scholar]
  329. Lee, J. and Miller, D. (1996). Strategy, Environment and Performance in Two Technological Contexts: Contingency Theory in Korea. Organization Studies, 17(5): 729–750, https://doi.org/10.1177/017084069601700502 [Google Scholar]
  330. Lee, K.S., Lim, G.H. et al. (1999). Dealing with resource disadvantage: Generic strategies for SMEs. Small Business Economics, 12(4): 299–311, https://doi.org/10.1023/A:1008085310245 [Google Scholar]
  331. Lee, K.S., Lim, G.H. et al. (2001). Generic marketing strategies for small and medium-sized enterprises– conceptual framework and examples from Asia. Journal of Strategic Marketing, 9(2): 145–162, https://doi.org/10.1080/09652540122176 [Google Scholar]
  332. Levinthal, D.A. and March, J.G. (1993). The myopia of learning. Strategic Management Journal, 14(S2): 95–112, https://doi.org/10.1002/smj.4250141009 [Google Scholar]
  333. Lewis, M.W. and Grimes, A.I. (1999). Metatriangulation: Building theory from multiple paradigms. Academy of Management Review, 24(4): 672–690. [Google Scholar]
  334. Mallick, D.N. and Chaudhury, A. (2000). Technology management education in MBA programs: a comparative study of knowledge and skill requirements. Journal of Engineering and Technology Management, 17(2): 153–173, https://doi.org/10.1016/S0923-4748(00)00019-9 [Google Scholar]
  335. Manolova, T.S., Eunni, R.V. et al. (2008). Institutional environments for entrepreneurship: Evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice, 32(1): 203–218, https://doi.org/10.1111/j.1540-6520.2007.00222.x [Google Scholar]
  336. March, J.G. (1991). “Exploration and exploitation in organizational learning. Organization Science, 2(1): 71–87, https://doi.org/10.1287/orsc.2.1.71 [Google Scholar]
  337. McKiernan, P. and Purg, D. (2013). Hidden Champions in CEE and Turkey. Springer. https://doi.org/10.1007/978-3-642-40504-4 [Google Scholar]
  338. Miller, D. (1982). Evolution and revolution: A quantum view of structural change in organizations. Journal of Management Studies, 19(2): 131–151, https://doi.org/10.1111/j.1467-6486.1982.tb00064.x [Google Scholar]
  339. Miller, D. (1988). Relating Porter’s business strategies to environment and structure: Analysis and performance implications. Academy of Management Journal, 31(2): 280–308, https://doi.org/10.2307/256549 [Google Scholar]
  340. Miller, D. (1991). Stale in the saddle: CEO tenure and the match between organization and environment. Management Science, 37(1): 34–52, https://doi.org/10.1287/mnsc.37.1.34 [Google Scholar]
  341. Miller, D. and Shamsie, J. (1999). Learning across the life cycle: Experimentation and performance among Hollywood studio heads. Academy of Management Proceedings. Academy of Management, August (Meeting Abstract Supplement). [Google Scholar]
  342. Miller, D. and Toulouse, J.-M. (1986). Chief executive personality and corporate strategy and structure in small frms. Management Science, 32(11): 1389–1409, https://doi.org/10.1287/mnsc.32.11.1389 [Google Scholar]
  343. Miller, D. and Friesen, P.H. (1983). Strategy-making and environment: the third link. Strategic Management Journal, 4(3): 221–235, https://doi.org/10.1002/smj.4250040304 [Google Scholar]
  344. Parnell, J.A., Lester, D.L. et al. (2000). Strategy as a response to organizational uncertainty: an alternative perspective on the strategy-performance relationship. Management Decision, 38(8): 520–530, https://doi.org/10.1108/00251740010352811 [Google Scholar]
  345. Parnell, J.A., Lester, D.L. et al. (2012). How environmental uncertainty affects the link between business strategy and performance in SMEs: Evidence from China, Turkey, and the USA. Management Decision, 50(4): 546–568, https://doi.org/10.1108/00251741211220129 [Google Scholar]
  346. Pissarides, F. (1999). Is lack of funds the main obstacle to growth? EBRD’s experience with smalland medium-sized businesses in Central and Eastern Europe. Journal of Business Venturing, 14(5): 519–539, https://doi.org/10.1016/S0883-9026(98)00027-5 [Google Scholar]
  347. Porter, M.E. (1980). Competitive Strategy. New York: Free Press. [Google Scholar]
  348. Porter, M.E. (1985). Competitive Advantage. New York: Free Press. [Google Scholar]
  349. Randøy, T. and Goel, S. (2003). Ownership structure, founder leadership, and performance in Norwegian SMEs: implications for fnancing entrepreneurial opportunities. Journal of Business Venturing, 18(5): 619–637, https://doi.org/10.1016/S0883-9026(03)00013-2 [Google Scholar]
  350. Ruef, M. and Scott, W.R. (1998). A multidimensional model of organizational legitimacy: Hospital survival in changing institutional environments. Administrative Science Quarterly, 43(4): 877–904, https://doi.org/10.2307/2393619 [Google Scholar]
  351. Scharmer, O. (2009). Theory U: Leading form the Future as It Emerges. San Francisco: Berrett-Koehler Publishers. [Google Scholar]
  352. Schmidt-Wilk, J., Heaton, D.P. et al. (2000). Higher education for higher consciousness: Maharishi University of Management as a model for spirituality in management education. Journal of Management Education, 24(5): 580–611, https://doi.org/10.1177/105256290002400505 [Google Scholar]
  353. Schumpeter, J.A. (1947). The creative response in economic history. The Journal of Economic History, 7(02): 149–159, https://doi.org/10.1017/S0022050700054279 [Google Scholar]
  354. Sidor, J. (2015). Debate Over Rigor and Relevance in Scientifc Study of Management. Management and Business Administration. Central Europe, 23(3): 32–46, https://doi.org/10.7206/mba.ce.2084-3356.149 [Google Scholar]
  355. Simon, H. (1996a). Hidden champions : Lessons from 500 of the world’s best unknown companies. Boston (Mass.): Harvard Business School Press. [Google Scholar]
  356. Simon, H. (1996b). You don’t Have to be German to be a “Hidden Champion”. Business Strategy Review, 7(2): 1–13, https://doi.org/10.1111/j.1467-8616.1996.tb00118.x [Google Scholar]
  357. Simon, H. (2009). Hidden champions of the twenty-frst century: The success strategies of unknown world market leaders. Springer Science & Business Media, https://doi.org/10.1007/978-0-387-98147-5 [Google Scholar]
  358. Smith, W.R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1): 3–8, https://doi.org/10.2307/1247695 [Google Scholar]
  359. Svetličič, M., Jaklič, A. et al. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4): 36–65, https://doi.org/10.2753/EEE0012-8775450402 [Google Scholar]
  360. Thomas, A.S., Litschert, R.J. et al. (1991). The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal, 12(7): 509–522, https://doi.org/10.1002/smj.4250120704 [Google Scholar]
  361. Tripsas, M. and Gavetti, G. (2000). Capabilities, cognition, and inertia: Evidence from digital imaging. Strategic Management Journal, 21(10–11): 1147–1161, https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1147::AID-SMJ128>3.0.CO;2-R [Google Scholar]
  362. Tushman, M.L., Newman, W.H. et al. (1986). Convergence and upheaval: Managing the unsteady pace of organizational evolution. California Management Review, 29(1): 29–44, https://doi.org/10.2307/41165225 [Google Scholar]
  363. Verhees, F.J. and Meulenberg, M.T. (2004). Market orientation, innovativeness, product innovation, and performance in small frms. Journal of Small Business Management, 42(2): 134–154, https://doi.org/10.1111/j.1540-627X.2004.00102.x [Google Scholar]
  364. Waldman, D.A., Ramirez, G.G. et al. (2001). Does leadership matter? CEO leadership attributes and proftability under conditions of perceived environmental uncertainty. Academy of Management Journal, 44(1): 134–143, https://doi.org/10.2307/3069341 [Google Scholar]
  365. Wally, S. and Baum, J.R. (1994). Personal and structural determinants of the pace of strategic decision making. Academy of Management Journal, 37(4): 932–956, https://doi.org/10.2307/256605 [Google Scholar]
  366. Weiner, N. and Mahoney, T.A. (1981). A model of corporate performance as a function of environmental, organizational, and leadership influences. Academy of Management Journal, 24(3): 453–470, https://doi.org/10.2307/255568 [Google Scholar]
  367. Wiersema, M.F. and Bantel, K.A. (1992). Top management team demography and corporate strategic change. Academy of Management Journal, 35(1): 91–121, https://doi.org/10.2307/256474 [Google Scholar]
  368. Xie, Y. H. and T. Suh (2014). Perceived resource defciency and internationalization of small-and medium-sized frms. Journal of International Entrepreneurship, 12(3): 207–229, https://doi.org/10.1007/s10843-014-0121-9 [Google Scholar]
  369. Adner, R. and Zemsky, P. (2012). Competitive Positioning and Generic Strategies: Revisiting the ‘Stuck in the Middle’ proposition. Working Paper. Tuck Business School. [Google Scholar]
  370. Adner, R., Csaszar, F.A. et al. (2014). Positioning on a multiattribute landscape. Management Science, 60(11): 2794–2815, https://doi.org/10.1287/mnsc.2014.1978 [Google Scholar]
  371. Al-alak, B.A. and Tarabieh, S. (2011). Gaining competitive advantage and organizational performance through customer orientation, innovation differentiation and market differentiation. International Journal of Economics and Management Sciences, 1(5): 80–91. [Google Scholar]
  372. Azimont, F. and Araujo, L. (2007). Category reviews as market-shaping events. Industrial Marketing Management, 36(7): 849–860, https://doi.org/10.1016/j.indmarman.2007.05.012 [Google Scholar]
  373. Bantel, K.A. and Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, 10: 107, https://doi.org/10.1002/smj.4250100709 [Google Scholar]
  374. Barrett, R. (2016). A New Psychology of Human Well-Being: An Exploration of the Influence of Ego-Soul Dynamics on Mental and Physical Health. Lulu. com. [Google Scholar]
  375. Bartelsman, E., Scarpetta, S. et al. (2005). Comparative analysis of frm demographics and survival: evidence from micro-level sources in OECD countries. Industrial and Corporate Change, 14(3): 365–391, https://doi.org/10.1093/icc/dth057 [Google Scholar]
  376. Bartlett, W. and Bukvič, V. (2001). Barriers to SME growth in Slovenia. MOST: Economic Policy in Transitional Economies, 11(2): 177–195, https://doi.org/10.1023/A:1012206414785 [Google Scholar]
  377. Baum, J.A. (1999). Organizational ecology. In: S.R. Clegg and C. Hardy (eds.), Studying Organization: Theory and Method. Sage. [Google Scholar]
  378. Baum, J.A. and Singh, J.V. (1994). Organization-environment coevolution. In: Evolutionary dynamics of organizations. Oxford University Press. [Google Scholar]
  379. Bergh, D.D. (2001). Executive retention and acquisition outcomes: A test of opposing views on the influence of organizational tenure. Journal of Management, 27(5): 603–622, https://doi.org/10.1177/014920630102700506 [Google Scholar]
  380. Berson, Y., Nemanich, L.A. et al. (2006). Leadership and organizational learning: A multiple levels perspective. The Leadership Quarterly, 17(6): 577–594, https://doi.org/10.1016/j.leaqua.2006.10.003 [Google Scholar]
  381. Bower, J.L. (1986). Managing the resource allocation process: A study of corporate planning and investment. Harvard Business Press. [Google Scholar]
  382. Burgelman, R.A. (1983). A process model of internal corporate venturing in the diversifed major frm. Administrative Science Quarterly, 28: 223–244, https://doi.org/10.2307/2392619 [Google Scholar]
  383. Burton, R.M. and Obel, B. (1998). Strategic organizational diagnosis and design: Developing theory for application. Springer, https://doi.org/10.1007/978-1-4684-0021-2 [Google Scholar]
  384. Calof, J.L. (1993). The impact of size on internationalization. Journal of Small Business Management, 31(4). [Google Scholar]
  385. Carmin, J. and VanDeveer, S.D. (2005). EU enlargement and the environment: institutional change and environmental policy in Central and Eastern Europe. Psychology Press. [Google Scholar]
  386. Carpenter, M.A. and Fredrickson, J.W. (2001). Top management teams, global strategic posture, and the moderating role of uncertainty. Academy of Management Journal, 44(3): 533–545, https://doi.org/10.2307/3069368 [Google Scholar]
  387. Carpenter, M.A., Geletkanycz, M.A. et al. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6): 749–778, https://doi.org/10.1016/j.jm.2004.06.001 [Google Scholar]
  388. Chandler, A.D. (1962). Strategy and structure: Chapters in the history of the American enterprise. Cambridge: Massachusetts Institute of Technology. [Google Scholar]
  389. Chen, X., Ender, P., Mitchell, M. and Wells, C. (2003). Regression with SPSS. Obtained from http://www.ats.ucla.edu/stat/spss/webbooks/reg/default.htm . [Google Scholar]
  390. Contractor, F.J., Kumar, V. et al. (2007). Nature of the relationship between international expansion and performance: The case of emerging market frms. Journal of World Business, 42(4): 401–417, https://doi.org/10.1016/j.jwb.2007.06.003 [Google Scholar]
  391. Coviello, N.E. and McAuley, A. (1999). Internationalisation and the smaller frm: a review of contemporary empirical research. MIR: Management International Review, 39(3): 223–256. [Google Scholar]
  392. Cui, G. and Liu, Q. (2001). Emerging Market Segments in a Transitional Economy: A Study of Urban Consumers in China. Journal of International Marketing, 9(1): 84–106, https://doi.org/10.1509/jimk.9.1.84.19833 [Google Scholar]
  393. Datta, D.K. and Rajagopalan, N. (1998). Industry structure and CEO characteristics: An empirical study of succession events. Strategic Management Journal, 19(9): 833–852. https://doi.org/10.1002/(SICI)1097-0266(199809)19:9<833::AID-SMJ971>3.0.CO;2-V [Google Scholar]
  394. Dawes, J. (1999). The relationship between subjective and objective company performance measures in market orientation research: further empirical evidence. Marketing Bulletin – Department of Marketing Massey University, 10: 65–75. [Google Scholar]
  395. Dickson, P.R. and Ginter, J.L. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2): 1–10, https://doi.org/10.2307/1251125 [Google Scholar]
  396. Dillon, W.R. and Goldstein, M. (1984). Multivariate Analysis. Methods and Applications. John Wiley & Sons, Inc. [Google Scholar]
  397. Donaldson, L. (2001). The Contingency Theory of Organizations. Thousand Oaks, CA, Sage Publications, https://doi.org/10.4135/9781452229249 [Google Scholar]
  398. Doyle, P. and Saunders, J. (1985). Market segmentation and positioning in specialized industrial markets. The Journal of Marketing, 49(2): 24–32, https://doi.org/10.2307/1251562 [Google Scholar]
  399. Duncan, R.B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly: 313–327, https://doi.org/10.2307/2392145 [Google Scholar]
  400. Field, A. (2000). Discovering Statistics using SPSS for Windows. Sage Publications. Fred van Raaij, W. and Verhallen, T.M. (1994). Domain-specifc market segmentation. European Journal of Marketing, 28(10): 49–66, https://doi.org/10.1108/03090569410075786 [Google Scholar]
  401. Garbarski, L. (2014). Creating Value for the Organization through Marketing. Management and Business Administration. Central Europe, 4(127): 60–69, https://doi.org/10.7206/mba.ce.2084-3356.119 [Google Scholar]
  402. Gavetti, G., Levinthal, D.A. et al. (2005). Strategy making in novel and complex worlds: the power of analogy. Strategic Management Journal, 26(8): 691–712, https://doi.org/10.1002/smj.475 [Google Scholar]
  403. Flynn, P.M., Tan, T.K. et al. (2017). Redefning Success: Integrating Sustainability into Management Education. Oxford: Taylor & Francis Group. [Google Scholar]
  404. Hagedoorn, J. and Cloodt, M. (2003). Measuring innovative performance: is there an advantage in using multiple indicators? Research Policy, 32(8): 1365–1379, https://doi.org/10.1016/S0048-7333(02)00137-3 [Google Scholar]
  405. Hambrick, D.C. and Mason, P.A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2): 193–206. [Google Scholar]
  406. Hayes, A.F. (2013). Introduction to Mediation, Moderation, and Conditional Process Analysis. A Regression-Based Approach. New York: The Guilford Press. [Google Scholar]
  407. Herrmann, P. and Datta, D.K. (2002). CEO successor characteristics and the choice of foreign market entry mode: An empirical study. Journal of International Business Studies, 33(3): 551–569. [Google Scholar]
  408. Herrmann, P. and Datta, D.K. (2005). Relationships between Top Management Team Characteristics and International Diversifcation: an Empirical Investigation*. British Journal of Management, 16(1): 69–78, https://doi.org/10.1111/j.1467-8551.2005.00429.x [Google Scholar]
  409. Heshmati, A. (2001). On the growth of micro and small frms: evidence from Sweden. Small Business Economics, 17(3): 213–228, https://doi.org/10.1023/A:1011886128912 [Google Scholar]
  410. Hill, C.W.L. (1988). Differentiation versus Low Cost or Differentiation and Low Cost: A Contingency Framework. The Academy of Management Review, 13(3): 401–412. [Google Scholar]
  411. Hitt, M.A., Tihanyi, L. et al. (2006). “International diversifcation: Antecedents, outcomes, and moderators. Journal of Management, 32(6): 831–867, https://doi.org/10.1177/0149206306293575 [Google Scholar]
  412. Huber, G.P. and Glick, W.H. (1993). Organizational change and redesign: Ideas and insights for improving performance. Oxford: Oxford University Press. [Google Scholar]
  413. Ingram, T., Kraśnicka, T., Wronka-Pośpiech, M., Głód, G. and Głód, W. (2016). Relationships Between Miles and Snow Strategic Types and Organizational Performance in Polish Production Companies. Journal of Management and Business Administration. Central Europe, 24(1): 17–45, https://doi.org/10.7206/jmba.ce.2450-7814.162 [Google Scholar]
  414. Kirzner, I.M. (1999). Creativity and/or alertness: A reconsideration of the Schumpeterian entrepreneur. The Review of Austrian Economics, 11(1): 5–17, https://doi.org/10.1023/A:1007719905868 [Google Scholar]
  415. Klepper, S. (1996). Entry, exit, growth, and innovation over the product life cycle. The American Economic Review, 86(3): 562–583. [Google Scholar]
  416. Klepper, S. and Graddy, E. (1990). The evolution of new industries and the determinants of market structure. The RAND Journal of Economics, 21(1): 27–44, https://doi.org/10.2307/2555491 [Google Scholar]
  417. Kor, Y.Y. (2003). Experience-based top management team competence and sustained growth. Organization Science, 14(6): 707–719, https://doi.org/10.1287/orsc.14.6.707.24867 [Google Scholar]
  418. Koźmiński, A.K. (2015). Management in the Time of »Generalized Uncertainty« the Question of Revelvance. Management and Business Administration. Central Europe, 23(4): 2–10, https://doi.org/10.7206/mba.ce.2084-3356.154 [Google Scholar]
  419. Laloux, F. (2014). Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness. Brussels: Nelson Parker. [Google Scholar]
  420. Lattin, J., Carroll, J.D. and Green, P.E. (2003). Analyzing Multivariate Data. Brooks/Cole. Thomson Learning, Inc. [Google Scholar]
  421. Lee, J. and Miller, D. (1996). Strategy, Environment and Performance in Two Technological Contexts: Contingency Theory in Korea. Organization Studies, 17(5): 729–750, https://doi.org/10.1177/017084069601700502 [Google Scholar]
  422. Lee, K.S., Lim, G.H. et al. (1999). Dealing with resource disadvantage: Generic strategies for SMEs. Small Business Economics, 12(4): 299–311, https://doi.org/10.1023/A:1008085310245 [Google Scholar]
  423. Lee, K.S., Lim, G.H. et al. (2001). Generic marketing strategies for small and medium-sized enterprises– conceptual framework and examples from Asia. Journal of Strategic Marketing, 9(2): 145–162, https://doi.org/10.1080/09652540122176 [Google Scholar]
  424. Levinthal, D.A. and March, J.G. (1993). The myopia of learning. Strategic Management Journal, 14(S2): 95–112, https://doi.org/10.1002/smj.4250141009 [Google Scholar]
  425. Lewis, M.W. and Grimes, A.I. (1999). Metatriangulation: Building theory from multiple paradigms. Academy of Management Review, 24(4): 672–690. [Google Scholar]
  426. Mallick, D.N. and Chaudhury, A. (2000). Technology management education in MBA programs: a comparative study of knowledge and skill requirements. Journal of Engineering and Technology Management, 17(2): 153–173, https://doi.org/10.1016/S0923-4748(00)00019-9 [Google Scholar]
  427. Manolova, T.S., Eunni, R.V. et al. (2008). Institutional environments for entrepreneurship: Evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice, 32(1): 203–218, https://doi.org/10.1111/j.1540-6520.2007.00222.x [Google Scholar]
  428. March, J.G. (1991). “Exploration and exploitation in organizational learning. Organization Science, 2(1): 71–87, https://doi.org/10.1287/orsc.2.1.71 [Google Scholar]
  429. McKiernan, P. and Purg, D. (2013). Hidden Champions in CEE and Turkey. Springer. https://doi.org/10.1007/978-3-642-40504-4 [Google Scholar]
  430. Miller, D. (1982). Evolution and revolution: A quantum view of structural change in organizations. Journal of Management Studies, 19(2): 131–151, https://doi.org/10.1111/j.1467-6486.1982.tb00064.x [Google Scholar]
  431. Miller, D. (1988). Relating Porter’s business strategies to environment and structure: Analysis and performance implications. Academy of Management Journal, 31(2): 280–308, https://doi.org/10.2307/256549 [Google Scholar]
  432. Miller, D. (1991). Stale in the saddle: CEO tenure and the match between organization and environment. Management Science, 37(1): 34–52, https://doi.org/10.1287/mnsc.37.1.34 [Google Scholar]
  433. Miller, D. and Shamsie, J. (1999). Learning across the life cycle: Experimentation and performance among Hollywood studio heads. Academy of Management Proceedings. Academy of Management, August (Meeting Abstract Supplement). [Google Scholar]
  434. Miller, D. and Toulouse, J.-M. (1986). Chief executive personality and corporate strategy and structure in small frms. Management Science, 32(11): 1389–1409, https://doi.org/10.1287/mnsc.32.11.1389 [Google Scholar]
  435. Miller, D. and Friesen, P.H. (1983). Strategy-making and environment: the third link. Strategic Management Journal, 4(3): 221–235, https://doi.org/10.1002/smj.4250040304 [Google Scholar]
  436. Parnell, J.A., Lester, D.L. et al. (2000). Strategy as a response to organizational uncertainty: an alternative perspective on the strategy-performance relationship. Management Decision, 38(8): 520–530, https://doi.org/10.1108/00251740010352811 [Google Scholar]
  437. Parnell, J.A., Lester, D.L. et al. (2012). How environmental uncertainty affects the link between business strategy and performance in SMEs: Evidence from China, Turkey, and the USA. Management Decision, 50(4): 546–568, https://doi.org/10.1108/00251741211220129 [Google Scholar]
  438. Pissarides, F. (1999). Is lack of funds the main obstacle to growth? EBRD’s experience with smalland medium-sized businesses in Central and Eastern Europe. Journal of Business Venturing, 14(5): 519–539, https://doi.org/10.1016/S0883-9026(98)00027-5 [Google Scholar]
  439. Porter, M.E. (1980). Competitive Strategy. New York: Free Press. [Google Scholar]
  440. Porter, M.E. (1985). Competitive Advantage. New York: Free Press. [Google Scholar]
  441. Randøy, T. and Goel, S. (2003). Ownership structure, founder leadership, and performance in Norwegian SMEs: implications for fnancing entrepreneurial opportunities. Journal of Business Venturing, 18(5): 619–637, https://doi.org/10.1016/S0883-9026(03)00013-2 [Google Scholar]
  442. Ruef, M. and Scott, W.R. (1998). A multidimensional model of organizational legitimacy: Hospital survival in changing institutional environments. Administrative Science Quarterly, 43(4): 877–904, https://doi.org/10.2307/2393619 [Google Scholar]
  443. Scharmer, O. (2009). Theory U: Leading form the Future as It Emerges. San Francisco: Berrett-Koehler Publishers. [Google Scholar]
  444. Schmidt-Wilk, J., Heaton, D.P. et al. (2000). Higher education for higher consciousness: Maharishi University of Management as a model for spirituality in management education. Journal of Management Education, 24(5): 580–611, https://doi.org/10.1177/105256290002400505 [Google Scholar]
  445. Schumpeter, J.A. (1947). The creative response in economic history. The Journal of Economic History, 7(02): 149–159, https://doi.org/10.1017/S0022050700054279 [Google Scholar]
  446. Sidor, J. (2015). Debate Over Rigor and Relevance in Scientifc Study of Management. Management and Business Administration. Central Europe, 23(3): 32–46, https://doi.org/10.7206/mba.ce.2084-3356.149 [Google Scholar]
  447. Simon, H. (1996a). Hidden champions : Lessons from 500 of the world’s best unknown companies. Boston (Mass.): Harvard Business School Press. [Google Scholar]
  448. Simon, H. (1996b). You don’t Have to be German to be a “Hidden Champion”. Business Strategy Review, 7(2): 1–13, https://doi.org/10.1111/j.1467-8616.1996.tb00118.x [Google Scholar]
  449. Simon, H. (2009). Hidden champions of the twenty-frst century: The success strategies of unknown world market leaders. Springer Science & Business Media, https://doi.org/10.1007/978-0-387-98147-5 [Google Scholar]
  450. Smith, W.R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1): 3–8, https://doi.org/10.2307/1247695 [Google Scholar]
  451. Svetličič, M., Jaklič, A. et al. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4): 36–65, https://doi.org/10.2753/EEE0012-8775450402 [Google Scholar]
  452. Thomas, A.S., Litschert, R.J. et al. (1991). The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal, 12(7): 509–522, https://doi.org/10.1002/smj.4250120704 [Google Scholar]
  453. Tripsas, M. and Gavetti, G. (2000). Capabilities, cognition, and inertia: Evidence from digital imaging. Strategic Management Journal, 21(10–11): 1147–1161, https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1147::AID-SMJ128>3.0.CO;2-R [Google Scholar]
  454. Tushman, M.L., Newman, W.H. et al. (1986). Convergence and upheaval: Managing the unsteady pace of organizational evolution. California Management Review, 29(1): 29–44, https://doi.org/10.2307/41165225 [Google Scholar]
  455. Verhees, F.J. and Meulenberg, M.T. (2004). Market orientation, innovativeness, product innovation, and performance in small frms. Journal of Small Business Management, 42(2): 134–154, https://doi.org/10.1111/j.1540-627X.2004.00102.x [Google Scholar]
  456. Waldman, D.A., Ramirez, G.G. et al. (2001). Does leadership matter? CEO leadership attributes and proftability under conditions of perceived environmental uncertainty. Academy of Management Journal, 44(1): 134–143, https://doi.org/10.2307/3069341 [Google Scholar]
  457. Wally, S. and Baum, J.R. (1994). Personal and structural determinants of the pace of strategic decision making. Academy of Management Journal, 37(4): 932–956, https://doi.org/10.2307/256605 [Google Scholar]
  458. Weiner, N. and Mahoney, T.A. (1981). A model of corporate performance as a function of environmental, organizational, and leadership influences. Academy of Management Journal, 24(3): 453–470, https://doi.org/10.2307/255568 [Google Scholar]
  459. Wiersema, M.F. and Bantel, K.A. (1992). Top management team demography and corporate strategic change. Academy of Management Journal, 35(1): 91–121, https://doi.org/10.2307/256474 [Google Scholar]
  460. Xie, Y. H. and T. Suh (2014). Perceived resource defciency and internationalization of small-and medium-sized frms. Journal of International Entrepreneurship, 12(3): 207–229, https://doi.org/10.1007/s10843-014-0121-9 [Google Scholar]
  461. Adner, R. and Zemsky, P. (2012). Competitive Positioning and Generic Strategies: Revisiting the ‘Stuck in the Middle’ proposition. Working Paper. Tuck Business School. [Google Scholar]
  462. Adner, R., Csaszar, F.A. et al. (2014). Positioning on a multiattribute landscape. Management Science, 60(11): 2794–2815, https://doi.org/10.1287/mnsc.2014.1978 [Google Scholar]
  463. Al-alak, B.A. and Tarabieh, S. (2011). Gaining competitive advantage and organizational performance through customer orientation, innovation differentiation and market differentiation. International Journal of Economics and Management Sciences, 1(5): 80–91. [Google Scholar]
  464. Azimont, F. and Araujo, L. (2007). Category reviews as market-shaping events. Industrial Marketing Management, 36(7): 849–860, https://doi.org/10.1016/j.indmarman.2007.05.012 [Google Scholar]
  465. Bantel, K.A. and Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, 10: 107, https://doi.org/10.1002/smj.4250100709 [Google Scholar]
  466. Barrett, R. (2016). A New Psychology of Human Well-Being: An Exploration of the Influence of Ego-Soul Dynamics on Mental and Physical Health. Lulu. com. [Google Scholar]
  467. Bartelsman, E., Scarpetta, S. et al. (2005). Comparative analysis of frm demographics and survival: evidence from micro-level sources in OECD countries. Industrial and Corporate Change, 14(3): 365–391, https://doi.org/10.1093/icc/dth057 [Google Scholar]
  468. Bartlett, W. and Bukvič, V. (2001). Barriers to SME growth in Slovenia. MOST: Economic Policy in Transitional Economies, 11(2): 177–195, https://doi.org/10.1023/A:1012206414785 [Google Scholar]
  469. Baum, J.A. (1999). Organizational ecology. In: S.R. Clegg and C. Hardy (eds.), Studying Organization: Theory and Method. Sage. [Google Scholar]
  470. Baum, J.A. and Singh, J.V. (1994). Organization-environment coevolution. In: Evolutionary dynamics of organizations. Oxford University Press. [Google Scholar]
  471. Bergh, D.D. (2001). Executive retention and acquisition outcomes: A test of opposing views on the influence of organizational tenure. Journal of Management, 27(5): 603–622, https://doi.org/10.1177/014920630102700506 [Google Scholar]
  472. Berson, Y., Nemanich, L.A. et al. (2006). Leadership and organizational learning: A multiple levels perspective. The Leadership Quarterly, 17(6): 577–594, https://doi.org/10.1016/j.leaqua.2006.10.003 [Google Scholar]
  473. Bower, J.L. (1986). Managing the resource allocation process: A study of corporate planning and investment. Harvard Business Press. [Google Scholar]
  474. Burgelman, R.A. (1983). A process model of internal corporate venturing in the diversifed major frm. Administrative Science Quarterly, 28: 223–244, https://doi.org/10.2307/2392619 [Google Scholar]
  475. Burton, R.M. and Obel, B. (1998). Strategic organizational diagnosis and design: Developing theory for application. Springer, https://doi.org/10.1007/978-1-4684-0021-2 [Google Scholar]
  476. Calof, J.L. (1993). The impact of size on internationalization. Journal of Small Business Management, 31(4). [Google Scholar]
  477. Carmin, J. and VanDeveer, S.D. (2005). EU enlargement and the environment: institutional change and environmental policy in Central and Eastern Europe. Psychology Press. [Google Scholar]
  478. Carpenter, M.A. and Fredrickson, J.W. (2001). Top management teams, global strategic posture, and the moderating role of uncertainty. Academy of Management Journal, 44(3): 533–545, https://doi.org/10.2307/3069368 [Google Scholar]
  479. Carpenter, M.A., Geletkanycz, M.A. et al. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6): 749–778, https://doi.org/10.1016/j.jm.2004.06.001 [Google Scholar]
  480. Chandler, A.D. (1962). Strategy and structure: Chapters in the history of the American enterprise. Cambridge: Massachusetts Institute of Technology. [Google Scholar]
  481. Chen, X., Ender, P., Mitchell, M. and Wells, C. (2003). Regression with SPSS. Obtained from http://www.ats.ucla.edu/stat/spss/webbooks/reg/default.htm . [Google Scholar]
  482. Contractor, F.J., Kumar, V. et al. (2007). Nature of the relationship between international expansion and performance: The case of emerging market frms. Journal of World Business, 42(4): 401–417, https://doi.org/10.1016/j.jwb.2007.06.003 [Google Scholar]
  483. Coviello, N.E. and McAuley, A. (1999). Internationalisation and the smaller frm: a review of contemporary empirical research. MIR: Management International Review, 39(3): 223–256. [Google Scholar]
  484. Cui, G. and Liu, Q. (2001). Emerging Market Segments in a Transitional Economy: A Study of Urban Consumers in China. Journal of International Marketing, 9(1): 84–106, https://doi.org/10.1509/jimk.9.1.84.19833 [Google Scholar]
  485. Datta, D.K. and Rajagopalan, N. (1998). Industry structure and CEO characteristics: An empirical study of succession events. Strategic Management Journal, 19(9): 833–852. https://doi.org/10.1002/(SICI)1097-0266(199809)19:9<833::AID-SMJ971>3.0.CO;2-V [Google Scholar]
  486. Dawes, J. (1999). The relationship between subjective and objective company performance measures in market orientation research: further empirical evidence. Marketing Bulletin – Department of Marketing Massey University, 10: 65–75. [Google Scholar]
  487. Dickson, P.R. and Ginter, J.L. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2): 1–10, https://doi.org/10.2307/1251125 [Google Scholar]
  488. Dillon, W.R. and Goldstein, M. (1984). Multivariate Analysis. Methods and Applications. John Wiley & Sons, Inc. [Google Scholar]
  489. Donaldson, L. (2001). The Contingency Theory of Organizations. Thousand Oaks, CA, Sage Publications, https://doi.org/10.4135/9781452229249 [Google Scholar]
  490. Doyle, P. and Saunders, J. (1985). Market segmentation and positioning in specialized industrial markets. The Journal of Marketing, 49(2): 24–32, https://doi.org/10.2307/1251562 [Google Scholar]
  491. Duncan, R.B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly: 313–327, https://doi.org/10.2307/2392145 [Google Scholar]
  492. Field, A. (2000). Discovering Statistics using SPSS for Windows. Sage Publications. Fred van Raaij, W. and Verhallen, T.M. (1994). Domain-specifc market segmentation. European Journal of Marketing, 28(10): 49–66, https://doi.org/10.1108/03090569410075786 [Google Scholar]
  493. Garbarski, L. (2014). Creating Value for the Organization through Marketing. Management and Business Administration. Central Europe, 4(127): 60–69, https://doi.org/10.7206/mba.ce.2084-3356.119 [Google Scholar]
  494. Gavetti, G., Levinthal, D.A. et al. (2005). Strategy making in novel and complex worlds: the power of analogy. Strategic Management Journal, 26(8): 691–712, https://doi.org/10.1002/smj.475 [Google Scholar]
  495. Flynn, P.M., Tan, T.K. et al. (2017). Redefning Success: Integrating Sustainability into Management Education. Oxford: Taylor & Francis Group. [Google Scholar]
  496. Hagedoorn, J. and Cloodt, M. (2003). Measuring innovative performance: is there an advantage in using multiple indicators? Research Policy, 32(8): 1365–1379, https://doi.org/10.1016/S0048-7333(02)00137-3 [Google Scholar]
  497. Hambrick, D.C. and Mason, P.A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2): 193–206. [Google Scholar]
  498. Hayes, A.F. (2013). Introduction to Mediation, Moderation, and Conditional Process Analysis. A Regression-Based Approach. New York: The Guilford Press. [Google Scholar]
  499. Herrmann, P. and Datta, D.K. (2002). CEO successor characteristics and the choice of foreign market entry mode: An empirical study. Journal of International Business Studies, 33(3): 551–569. [Google Scholar]
  500. Herrmann, P. and Datta, D.K. (2005). Relationships between Top Management Team Characteristics and International Diversifcation: an Empirical Investigation*. British Journal of Management, 16(1): 69–78, https://doi.org/10.1111/j.1467-8551.2005.00429.x [Google Scholar]
  501. Heshmati, A. (2001). On the growth of micro and small frms: evidence from Sweden. Small Business Economics, 17(3): 213–228, https://doi.org/10.1023/A:1011886128912 [Google Scholar]
  502. Hill, C.W.L. (1988). Differentiation versus Low Cost or Differentiation and Low Cost: A Contingency Framework. The Academy of Management Review, 13(3): 401–412. [Google Scholar]
  503. Hitt, M.A., Tihanyi, L. et al. (2006). “International diversifcation: Antecedents, outcomes, and moderators. Journal of Management, 32(6): 831–867, https://doi.org/10.1177/0149206306293575 [Google Scholar]
  504. Huber, G.P. and Glick, W.H. (1993). Organizational change and redesign: Ideas and insights for improving performance. Oxford: Oxford University Press. [Google Scholar]
  505. Ingram, T., Kraśnicka, T., Wronka-Pośpiech, M., Głód, G. and Głód, W. (2016). Relationships Between Miles and Snow Strategic Types and Organizational Performance in Polish Production Companies. Journal of Management and Business Administration. Central Europe, 24(1): 17–45, https://doi.org/10.7206/jmba.ce.2450-7814.162 [Google Scholar]
  506. Kirzner, I.M. (1999). Creativity and/or alertness: A reconsideration of the Schumpeterian entrepreneur. The Review of Austrian Economics, 11(1): 5–17, https://doi.org/10.1023/A:1007719905868 [Google Scholar]
  507. Klepper, S. (1996). Entry, exit, growth, and innovation over the product life cycle. The American Economic Review, 86(3): 562–583. [Google Scholar]
  508. Klepper, S. and Graddy, E. (1990). The evolution of new industries and the determinants of market structure. The RAND Journal of Economics, 21(1): 27–44, https://doi.org/10.2307/2555491 [Google Scholar]
  509. Kor, Y.Y. (2003). Experience-based top management team competence and sustained growth. Organization Science, 14(6): 707–719, https://doi.org/10.1287/orsc.14.6.707.24867 [Google Scholar]
  510. Koźmiński, A.K. (2015). Management in the Time of »Generalized Uncertainty« the Question of Revelvance. Management and Business Administration. Central Europe, 23(4): 2–10, https://doi.org/10.7206/mba.ce.2084-3356.154 [Google Scholar]
  511. Laloux, F. (2014). Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness. Brussels: Nelson Parker. [Google Scholar]
  512. Lattin, J., Carroll, J.D. and Green, P.E. (2003). Analyzing Multivariate Data. Brooks/Cole. Thomson Learning, Inc. [Google Scholar]
  513. Lee, J. and Miller, D. (1996). Strategy, Environment and Performance in Two Technological Contexts: Contingency Theory in Korea. Organization Studies, 17(5): 729–750, https://doi.org/10.1177/017084069601700502 [Google Scholar]
  514. Lee, K.S., Lim, G.H. et al. (1999). Dealing with resource disadvantage: Generic strategies for SMEs. Small Business Economics, 12(4): 299–311, https://doi.org/10.1023/A:1008085310245 [Google Scholar]
  515. Lee, K.S., Lim, G.H. et al. (2001). Generic marketing strategies for small and medium-sized enterprises– conceptual framework and examples from Asia. Journal of Strategic Marketing, 9(2): 145–162, https://doi.org/10.1080/09652540122176 [Google Scholar]
  516. Levinthal, D.A. and March, J.G. (1993). The myopia of learning. Strategic Management Journal, 14(S2): 95–112, https://doi.org/10.1002/smj.4250141009 [Google Scholar]
  517. Lewis, M.W. and Grimes, A.I. (1999). Metatriangulation: Building theory from multiple paradigms. Academy of Management Review, 24(4): 672–690. [Google Scholar]
  518. Mallick, D.N. and Chaudhury, A. (2000). Technology management education in MBA programs: a comparative study of knowledge and skill requirements. Journal of Engineering and Technology Management, 17(2): 153–173, https://doi.org/10.1016/S0923-4748(00)00019-9 [Google Scholar]
  519. Manolova, T.S., Eunni, R.V. et al. (2008). Institutional environments for entrepreneurship: Evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice, 32(1): 203–218, https://doi.org/10.1111/j.1540-6520.2007.00222.x [Google Scholar]
  520. March, J.G. (1991). “Exploration and exploitation in organizational learning. Organization Science, 2(1): 71–87, https://doi.org/10.1287/orsc.2.1.71 [Google Scholar]
  521. McKiernan, P. and Purg, D. (2013). Hidden Champions in CEE and Turkey. Springer. https://doi.org/10.1007/978-3-642-40504-4 [Google Scholar]
  522. Miller, D. (1982). Evolution and revolution: A quantum view of structural change in organizations. Journal of Management Studies, 19(2): 131–151, https://doi.org/10.1111/j.1467-6486.1982.tb00064.x [Google Scholar]
  523. Miller, D. (1988). Relating Porter’s business strategies to environment and structure: Analysis and performance implications. Academy of Management Journal, 31(2): 280–308, https://doi.org/10.2307/256549 [Google Scholar]
  524. Miller, D. (1991). Stale in the saddle: CEO tenure and the match between organization and environment. Management Science, 37(1): 34–52, https://doi.org/10.1287/mnsc.37.1.34 [Google Scholar]
  525. Miller, D. and Shamsie, J. (1999). Learning across the life cycle: Experimentation and performance among Hollywood studio heads. Academy of Management Proceedings. Academy of Management, August (Meeting Abstract Supplement). [Google Scholar]
  526. Miller, D. and Toulouse, J.-M. (1986). Chief executive personality and corporate strategy and structure in small frms. Management Science, 32(11): 1389–1409, https://doi.org/10.1287/mnsc.32.11.1389 [Google Scholar]
  527. Miller, D. and Friesen, P.H. (1983). Strategy-making and environment: the third link. Strategic Management Journal, 4(3): 221–235, https://doi.org/10.1002/smj.4250040304 [Google Scholar]
  528. Parnell, J.A., Lester, D.L. et al. (2000). Strategy as a response to organizational uncertainty: an alternative perspective on the strategy-performance relationship. Management Decision, 38(8): 520–530, https://doi.org/10.1108/00251740010352811 [Google Scholar]
  529. Parnell, J.A., Lester, D.L. et al. (2012). How environmental uncertainty affects the link between business strategy and performance in SMEs: Evidence from China, Turkey, and the USA. Management Decision, 50(4): 546–568, https://doi.org/10.1108/00251741211220129 [Google Scholar]
  530. Pissarides, F. (1999). Is lack of funds the main obstacle to growth? EBRD’s experience with smalland medium-sized businesses in Central and Eastern Europe. Journal of Business Venturing, 14(5): 519–539, https://doi.org/10.1016/S0883-9026(98)00027-5 [Google Scholar]
  531. Porter, M.E. (1980). Competitive Strategy. New York: Free Press. [Google Scholar]
  532. Porter, M.E. (1985). Competitive Advantage. New York: Free Press. [Google Scholar]
  533. Randøy, T. and Goel, S. (2003). Ownership structure, founder leadership, and performance in Norwegian SMEs: implications for fnancing entrepreneurial opportunities. Journal of Business Venturing, 18(5): 619–637, https://doi.org/10.1016/S0883-9026(03)00013-2 [Google Scholar]
  534. Ruef, M. and Scott, W.R. (1998). A multidimensional model of organizational legitimacy: Hospital survival in changing institutional environments. Administrative Science Quarterly, 43(4): 877–904, https://doi.org/10.2307/2393619 [Google Scholar]
  535. Scharmer, O. (2009). Theory U: Leading form the Future as It Emerges. San Francisco: Berrett-Koehler Publishers. [Google Scholar]
  536. Schmidt-Wilk, J., Heaton, D.P. et al. (2000). Higher education for higher consciousness: Maharishi University of Management as a model for spirituality in management education. Journal of Management Education, 24(5): 580–611, https://doi.org/10.1177/105256290002400505 [Google Scholar]
  537. Schumpeter, J.A. (1947). The creative response in economic history. The Journal of Economic History, 7(02): 149–159, https://doi.org/10.1017/S0022050700054279 [Google Scholar]
  538. Sidor, J. (2015). Debate Over Rigor and Relevance in Scientifc Study of Management. Management and Business Administration. Central Europe, 23(3): 32–46, https://doi.org/10.7206/mba.ce.2084-3356.149 [Google Scholar]
  539. Simon, H. (1996a). Hidden champions : Lessons from 500 of the world’s best unknown companies. Boston (Mass.): Harvard Business School Press. [Google Scholar]
  540. Simon, H. (1996b). You don’t Have to be German to be a “Hidden Champion”. Business Strategy Review, 7(2): 1–13, https://doi.org/10.1111/j.1467-8616.1996.tb00118.x [Google Scholar]
  541. Simon, H. (2009). Hidden champions of the twenty-frst century: The success strategies of unknown world market leaders. Springer Science & Business Media, https://doi.org/10.1007/978-0-387-98147-5 [Google Scholar]
  542. Smith, W.R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1): 3–8, https://doi.org/10.2307/1247695 [Google Scholar]
  543. Svetličič, M., Jaklič, A. et al. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4): 36–65, https://doi.org/10.2753/EEE0012-8775450402 [Google Scholar]
  544. Thomas, A.S., Litschert, R.J. et al. (1991). The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal, 12(7): 509–522, https://doi.org/10.1002/smj.4250120704 [Google Scholar]
  545. Tripsas, M. and Gavetti, G. (2000). Capabilities, cognition, and inertia: Evidence from digital imaging. Strategic Management Journal, 21(10–11): 1147–1161, https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1147::AID-SMJ128>3.0.CO;2-R [Google Scholar]
  546. Tushman, M.L., Newman, W.H. et al. (1986). Convergence and upheaval: Managing the unsteady pace of organizational evolution. California Management Review, 29(1): 29–44, https://doi.org/10.2307/41165225 [Google Scholar]
  547. Verhees, F.J. and Meulenberg, M.T. (2004). Market orientation, innovativeness, product innovation, and performance in small frms. Journal of Small Business Management, 42(2): 134–154, https://doi.org/10.1111/j.1540-627X.2004.00102.x [Google Scholar]
  548. Waldman, D.A., Ramirez, G.G. et al. (2001). Does leadership matter? CEO leadership attributes and proftability under conditions of perceived environmental uncertainty. Academy of Management Journal, 44(1): 134–143, https://doi.org/10.2307/3069341 [Google Scholar]
  549. Wally, S. and Baum, J.R. (1994). Personal and structural determinants of the pace of strategic decision making. Academy of Management Journal, 37(4): 932–956, https://doi.org/10.2307/256605 [Google Scholar]
  550. Weiner, N. and Mahoney, T.A. (1981). A model of corporate performance as a function of environmental, organizational, and leadership influences. Academy of Management Journal, 24(3): 453–470, https://doi.org/10.2307/255568 [Google Scholar]
  551. Wiersema, M.F. and Bantel, K.A. (1992). Top management team demography and corporate strategic change. Academy of Management Journal, 35(1): 91–121, https://doi.org/10.2307/256474 [Google Scholar]
  552. Xie, Y. H. and T. Suh (2014). Perceived resource defciency and internationalization of small-and medium-sized frms. Journal of International Entrepreneurship, 12(3): 207–229, https://doi.org/10.1007/s10843-014-0121-9 [Google Scholar]
  553. Adner, R. and Zemsky, P. (2012). Competitive Positioning and Generic Strategies: Revisiting the ‘Stuck in the Middle’ proposition. Working Paper. Tuck Business School. [Google Scholar]
  554. Adner, R., Csaszar, F.A. et al. (2014). Positioning on a multiattribute landscape. Management Science, 60(11): 2794–2815, https://doi.org/10.1287/mnsc.2014.1978 [Google Scholar]
  555. Al-alak, B.A. and Tarabieh, S. (2011). Gaining competitive advantage and organizational performance through customer orientation, innovation differentiation and market differentiation. International Journal of Economics and Management Sciences, 1(5): 80–91. [Google Scholar]
  556. Azimont, F. and Araujo, L. (2007). Category reviews as market-shaping events. Industrial Marketing Management, 36(7): 849–860, https://doi.org/10.1016/j.indmarman.2007.05.012 [Google Scholar]
  557. Bantel, K.A. and Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, 10: 107, https://doi.org/10.1002/smj.4250100709 [Google Scholar]
  558. Barrett, R. (2016). A New Psychology of Human Well-Being: An Exploration of the Influence of Ego-Soul Dynamics on Mental and Physical Health. Lulu. com. [Google Scholar]
  559. Bartelsman, E., Scarpetta, S. et al. (2005). Comparative analysis of frm demographics and survival: evidence from micro-level sources in OECD countries. Industrial and Corporate Change, 14(3): 365–391, https://doi.org/10.1093/icc/dth057 [Google Scholar]
  560. Bartlett, W. and Bukvič, V. (2001). Barriers to SME growth in Slovenia. MOST: Economic Policy in Transitional Economies, 11(2): 177–195, https://doi.org/10.1023/A:1012206414785 [Google Scholar]
  561. Baum, J.A. (1999). Organizational ecology. In: S.R. Clegg and C. Hardy (eds.), Studying Organization: Theory and Method. Sage. [Google Scholar]
  562. Baum, J.A. and Singh, J.V. (1994). Organization-environment coevolution. In: Evolutionary dynamics of organizations. Oxford University Press. [Google Scholar]
  563. Bergh, D.D. (2001). Executive retention and acquisition outcomes: A test of opposing views on the influence of organizational tenure. Journal of Management, 27(5): 603–622, https://doi.org/10.1177/014920630102700506 [Google Scholar]
  564. Berson, Y., Nemanich, L.A. et al. (2006). Leadership and organizational learning: A multiple levels perspective. The Leadership Quarterly, 17(6): 577–594, https://doi.org/10.1016/j.leaqua.2006.10.003 [Google Scholar]
  565. Bower, J.L. (1986). Managing the resource allocation process: A study of corporate planning and investment. Harvard Business Press. [Google Scholar]
  566. Burgelman, R.A. (1983). A process model of internal corporate venturing in the diversifed major frm. Administrative Science Quarterly, 28: 223–244, https://doi.org/10.2307/2392619 [Google Scholar]
  567. Burton, R.M. and Obel, B. (1998). Strategic organizational diagnosis and design: Developing theory for application. Springer, https://doi.org/10.1007/978-1-4684-0021-2 [Google Scholar]
  568. Calof, J.L. (1993). The impact of size on internationalization. Journal of Small Business Management, 31(4). [Google Scholar]
  569. Carmin, J. and VanDeveer, S.D. (2005). EU enlargement and the environment: institutional change and environmental policy in Central and Eastern Europe. Psychology Press. [Google Scholar]
  570. Carpenter, M.A. and Fredrickson, J.W. (2001). Top management teams, global strategic posture, and the moderating role of uncertainty. Academy of Management Journal, 44(3): 533–545, https://doi.org/10.2307/3069368 [Google Scholar]
  571. Carpenter, M.A., Geletkanycz, M.A. et al. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6): 749–778, https://doi.org/10.1016/j.jm.2004.06.001 [Google Scholar]
  572. Chandler, A.D. (1962). Strategy and structure: Chapters in the history of the American enterprise. Cambridge: Massachusetts Institute of Technology. [Google Scholar]
  573. Chen, X., Ender, P., Mitchell, M. and Wells, C. (2003). Regression with SPSS. Obtained from http://www.ats.ucla.edu/stat/spss/webbooks/reg/default.htm . [Google Scholar]
  574. Contractor, F.J., Kumar, V. et al. (2007). Nature of the relationship between international expansion and performance: The case of emerging market frms. Journal of World Business, 42(4): 401–417, https://doi.org/10.1016/j.jwb.2007.06.003 [Google Scholar]
  575. Coviello, N.E. and McAuley, A. (1999). Internationalisation and the smaller frm: a review of contemporary empirical research. MIR: Management International Review, 39(3): 223–256. [Google Scholar]
  576. Cui, G. and Liu, Q. (2001). Emerging Market Segments in a Transitional Economy: A Study of Urban Consumers in China. Journal of International Marketing, 9(1): 84–106, https://doi.org/10.1509/jimk.9.1.84.19833 [Google Scholar]
  577. Datta, D.K. and Rajagopalan, N. (1998). Industry structure and CEO characteristics: An empirical study of succession events. Strategic Management Journal, 19(9): 833–852. https://doi.org/10.1002/(SICI)1097-0266(199809)19:9<833::AID-SMJ971>3.0.CO;2-V [Google Scholar]
  578. Dawes, J. (1999). The relationship between subjective and objective company performance measures in market orientation research: further empirical evidence. Marketing Bulletin – Department of Marketing Massey University, 10: 65–75. [Google Scholar]
  579. Dickson, P.R. and Ginter, J.L. (1987). Market Segmentation, Product Differentiation, and Marketing Strategy. Journal of Marketing, 51(2): 1–10, https://doi.org/10.2307/1251125 [Google Scholar]
  580. Dillon, W.R. and Goldstein, M. (1984). Multivariate Analysis. Methods and Applications. John Wiley & Sons, Inc. [Google Scholar]
  581. Donaldson, L. (2001). The Contingency Theory of Organizations. Thousand Oaks, CA, Sage Publications, https://doi.org/10.4135/9781452229249 [Google Scholar]
  582. Doyle, P. and Saunders, J. (1985). Market segmentation and positioning in specialized industrial markets. The Journal of Marketing, 49(2): 24–32, https://doi.org/10.2307/1251562 [Google Scholar]
  583. Duncan, R.B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly: 313–327, https://doi.org/10.2307/2392145 [Google Scholar]
  584. Field, A. (2000). Discovering Statistics using SPSS for Windows. Sage Publications. Fred van Raaij, W. and Verhallen, T.M. (1994). Domain-specifc market segmentation. European Journal of Marketing, 28(10): 49–66, https://doi.org/10.1108/03090569410075786 [Google Scholar]
  585. Garbarski, L. (2014). Creating Value for the Organization through Marketing. Management and Business Administration. Central Europe, 4(127): 60–69, https://doi.org/10.7206/mba.ce.2084-3356.119 [Google Scholar]
  586. Gavetti, G., Levinthal, D.A. et al. (2005). Strategy making in novel and complex worlds: the power of analogy. Strategic Management Journal, 26(8): 691–712, https://doi.org/10.1002/smj.475 [Google Scholar]
  587. Flynn, P.M., Tan, T.K. et al. (2017). Redefning Success: Integrating Sustainability into Management Education. Oxford: Taylor & Francis Group. [Google Scholar]
  588. Hagedoorn, J. and Cloodt, M. (2003). Measuring innovative performance: is there an advantage in using multiple indicators? Research Policy, 32(8): 1365–1379, https://doi.org/10.1016/S0048-7333(02)00137-3 [Google Scholar]
  589. Hambrick, D.C. and Mason, P.A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2): 193–206. [Google Scholar]
  590. Hayes, A.F. (2013). Introduction to Mediation, Moderation, and Conditional Process Analysis. A Regression-Based Approach. New York: The Guilford Press. [Google Scholar]
  591. Herrmann, P. and Datta, D.K. (2002). CEO successor characteristics and the choice of foreign market entry mode: An empirical study. Journal of International Business Studies, 33(3): 551–569. [Google Scholar]
  592. Herrmann, P. and Datta, D.K. (2005). Relationships between Top Management Team Characteristics and International Diversifcation: an Empirical Investigation*. British Journal of Management, 16(1): 69–78, https://doi.org/10.1111/j.1467-8551.2005.00429.x [Google Scholar]
  593. Heshmati, A. (2001). On the growth of micro and small frms: evidence from Sweden. Small Business Economics, 17(3): 213–228, https://doi.org/10.1023/A:1011886128912 [Google Scholar]
  594. Hill, C.W.L. (1988). Differentiation versus Low Cost or Differentiation and Low Cost: A Contingency Framework. The Academy of Management Review, 13(3): 401–412. [Google Scholar]
  595. Hitt, M.A., Tihanyi, L. et al. (2006). “International diversifcation: Antecedents, outcomes, and moderators. Journal of Management, 32(6): 831–867, https://doi.org/10.1177/0149206306293575 [Google Scholar]
  596. Huber, G.P. and Glick, W.H. (1993). Organizational change and redesign: Ideas and insights for improving performance. Oxford: Oxford University Press. [Google Scholar]
  597. Ingram, T., Kraśnicka, T., Wronka-Pośpiech, M., Głód, G. and Głód, W. (2016). Relationships Between Miles and Snow Strategic Types and Organizational Performance in Polish Production Companies. Journal of Management and Business Administration. Central Europe, 24(1): 17–45, https://doi.org/10.7206/jmba.ce.2450-7814.162 [Google Scholar]
  598. Kirzner, I.M. (1999). Creativity and/or alertness: A reconsideration of the Schumpeterian entrepreneur. The Review of Austrian Economics, 11(1): 5–17, https://doi.org/10.1023/A:1007719905868 [Google Scholar]
  599. Klepper, S. (1996). Entry, exit, growth, and innovation over the product life cycle. The American Economic Review, 86(3): 562–583. [Google Scholar]
  600. Klepper, S. and Graddy, E. (1990). The evolution of new industries and the determinants of market structure. The RAND Journal of Economics, 21(1): 27–44, https://doi.org/10.2307/2555491 [Google Scholar]
  601. Kor, Y.Y. (2003). Experience-based top management team competence and sustained growth. Organization Science, 14(6): 707–719, https://doi.org/10.1287/orsc.14.6.707.24867 [Google Scholar]
  602. Koźmiński, A.K. (2015). Management in the Time of »Generalized Uncertainty« the Question of Revelvance. Management and Business Administration. Central Europe, 23(4): 2–10, https://doi.org/10.7206/mba.ce.2084-3356.154 [Google Scholar]
  603. Laloux, F. (2014). Reinventing Organizations: A Guide to Creating Organizations Inspired by the Next Stage in Human Consciousness. Brussels: Nelson Parker. [Google Scholar]
  604. Lattin, J., Carroll, J.D. and Green, P.E. (2003). Analyzing Multivariate Data. Brooks/Cole. Thomson Learning, Inc. [Google Scholar]
  605. Lee, J. and Miller, D. (1996). Strategy, Environment and Performance in Two Technological Contexts: Contingency Theory in Korea. Organization Studies, 17(5): 729–750, https://doi.org/10.1177/017084069601700502 [Google Scholar]
  606. Lee, K.S., Lim, G.H. et al. (1999). Dealing with resource disadvantage: Generic strategies for SMEs. Small Business Economics, 12(4): 299–311, https://doi.org/10.1023/A:1008085310245 [Google Scholar]
  607. Lee, K.S., Lim, G.H. et al. (2001). Generic marketing strategies for small and medium-sized enterprises– conceptual framework and examples from Asia. Journal of Strategic Marketing, 9(2): 145–162, https://doi.org/10.1080/09652540122176 [Google Scholar]
  608. Levinthal, D.A. and March, J.G. (1993). The myopia of learning. Strategic Management Journal, 14(S2): 95–112, https://doi.org/10.1002/smj.4250141009 [Google Scholar]
  609. Lewis, M.W. and Grimes, A.I. (1999). Metatriangulation: Building theory from multiple paradigms. Academy of Management Review, 24(4): 672–690. [Google Scholar]
  610. Mallick, D.N. and Chaudhury, A. (2000). Technology management education in MBA programs: a comparative study of knowledge and skill requirements. Journal of Engineering and Technology Management, 17(2): 153–173, https://doi.org/10.1016/S0923-4748(00)00019-9 [Google Scholar]
  611. Manolova, T.S., Eunni, R.V. et al. (2008). Institutional environments for entrepreneurship: Evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice, 32(1): 203–218, https://doi.org/10.1111/j.1540-6520.2007.00222.x [Google Scholar]
  612. March, J.G. (1991). “Exploration and exploitation in organizational learning. Organization Science, 2(1): 71–87, https://doi.org/10.1287/orsc.2.1.71 [Google Scholar]
  613. McKiernan, P. and Purg, D. (2013). Hidden Champions in CEE and Turkey. Springer. https://doi.org/10.1007/978-3-642-40504-4 [Google Scholar]
  614. Miller, D. (1982). Evolution and revolution: A quantum view of structural change in organizations. Journal of Management Studies, 19(2): 131–151, https://doi.org/10.1111/j.1467-6486.1982.tb00064.x [Google Scholar]
  615. Miller, D. (1988). Relating Porter’s business strategies to environment and structure: Analysis and performance implications. Academy of Management Journal, 31(2): 280–308, https://doi.org/10.2307/256549 [Google Scholar]
  616. Miller, D. (1991). Stale in the saddle: CEO tenure and the match between organization and environment. Management Science, 37(1): 34–52, https://doi.org/10.1287/mnsc.37.1.34 [Google Scholar]
  617. Miller, D. and Shamsie, J. (1999). Learning across the life cycle: Experimentation and performance among Hollywood studio heads. Academy of Management Proceedings. Academy of Management, August (Meeting Abstract Supplement). [Google Scholar]
  618. Miller, D. and Toulouse, J.-M. (1986). Chief executive personality and corporate strategy and structure in small frms. Management Science, 32(11): 1389–1409, https://doi.org/10.1287/mnsc.32.11.1389 [Google Scholar]
  619. Miller, D. and Friesen, P.H. (1983). Strategy-making and environment: the third link. Strategic Management Journal, 4(3): 221–235, https://doi.org/10.1002/smj.4250040304 [Google Scholar]
  620. Parnell, J.A., Lester, D.L. et al. (2000). Strategy as a response to organizational uncertainty: an alternative perspective on the strategy-performance relationship. Management Decision, 38(8): 520–530, https://doi.org/10.1108/00251740010352811 [Google Scholar]
  621. Parnell, J.A., Lester, D.L. et al. (2012). How environmental uncertainty affects the link between business strategy and performance in SMEs: Evidence from China, Turkey, and the USA. Management Decision, 50(4): 546–568, https://doi.org/10.1108/00251741211220129 [Google Scholar]
  622. Pissarides, F. (1999). Is lack of funds the main obstacle to growth? EBRD’s experience with smalland medium-sized businesses in Central and Eastern Europe. Journal of Business Venturing, 14(5): 519–539, https://doi.org/10.1016/S0883-9026(98)00027-5 [Google Scholar]
  623. Porter, M.E. (1980). Competitive Strategy. New York: Free Press. [Google Scholar]
  624. Porter, M.E. (1985). Competitive Advantage. New York: Free Press. [Google Scholar]
  625. Randøy, T. and Goel, S. (2003). Ownership structure, founder leadership, and performance in Norwegian SMEs: implications for fnancing entrepreneurial opportunities. Journal of Business Venturing, 18(5): 619–637, https://doi.org/10.1016/S0883-9026(03)00013-2 [Google Scholar]
  626. Ruef, M. and Scott, W.R. (1998). A multidimensional model of organizational legitimacy: Hospital survival in changing institutional environments. Administrative Science Quarterly, 43(4): 877–904, https://doi.org/10.2307/2393619 [Google Scholar]
  627. Scharmer, O. (2009). Theory U: Leading form the Future as It Emerges. San Francisco: Berrett-Koehler Publishers. [Google Scholar]
  628. Schmidt-Wilk, J., Heaton, D.P. et al. (2000). Higher education for higher consciousness: Maharishi University of Management as a model for spirituality in management education. Journal of Management Education, 24(5): 580–611, https://doi.org/10.1177/105256290002400505 [Google Scholar]
  629. Schumpeter, J.A. (1947). The creative response in economic history. The Journal of Economic History, 7(02): 149–159, https://doi.org/10.1017/S0022050700054279 [Google Scholar]
  630. Sidor, J. (2015). Debate Over Rigor and Relevance in Scientifc Study of Management. Management and Business Administration. Central Europe, 23(3): 32–46, https://doi.org/10.7206/mba.ce.2084-3356.149 [Google Scholar]
  631. Simon, H. (1996a). Hidden champions : Lessons from 500 of the world’s best unknown companies. Boston (Mass.): Harvard Business School Press. [Google Scholar]
  632. Simon, H. (1996b). You don’t Have to be German to be a “Hidden Champion”. Business Strategy Review, 7(2): 1–13, https://doi.org/10.1111/j.1467-8616.1996.tb00118.x [Google Scholar]
  633. Simon, H. (2009). Hidden champions of the twenty-frst century: The success strategies of unknown world market leaders. Springer Science & Business Media, https://doi.org/10.1007/978-0-387-98147-5 [Google Scholar]
  634. Smith, W.R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1): 3–8, https://doi.org/10.2307/1247695 [Google Scholar]
  635. Svetličič, M., Jaklič, A. et al. (2007). Internationalization of small and medium-size enterprises from selected central European economies. Eastern European Economics, 45(4): 36–65, https://doi.org/10.2753/EEE0012-8775450402 [Google Scholar]
  636. Thomas, A.S., Litschert, R.J. et al. (1991). The performance impact of strategy-manager coalignment: An empirical examination. Strategic Management Journal, 12(7): 509–522, https://doi.org/10.1002/smj.4250120704 [Google Scholar]
  637. Tripsas, M. and Gavetti, G. (2000). Capabilities, cognition, and inertia: Evidence from digital imaging. Strategic Management Journal, 21(10–11): 1147–1161, https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1147::AID-SMJ128>3.0.CO;2-R [Google Scholar]
  638. Tushman, M.L., Newman, W.H. et al. (1986). Convergence and upheaval: Managing the unsteady pace of organizational evolution. California Management Review, 29(1): 29–44, https://doi.org/10.2307/41165225 [Google Scholar]
  639. Verhees, F.J. and Meulenberg, M.T. (2004). Market orientation, innovativeness, product innovation, and performance in small frms. Journal of Small Business Management, 42(2): 134–154, https://doi.org/10.1111/j.1540-627X.2004.00102.x [Google Scholar]
  640. Waldman, D.A., Ramirez, G.G. et al. (2001). Does leadership matter? CEO leadership attributes and proftability under conditions of perceived environmental uncertainty. Academy of Management Journal, 44(1): 134–143, https://doi.org/10.2307/3069341 [Google Scholar]
  641. Wally, S. and Baum, J.R. (1994). Personal and structural determinants of the pace of strategic decision making. Academy of Management Journal, 37(4): 932–956, https://doi.org/10.2307/256605 [Google Scholar]
  642. Weiner, N. and Mahoney, T.A. (1981). A model of corporate performance as a function of environmental, organizational, and leadership influences. Academy of Management Journal, 24(3): 453–470, https://doi.org/10.2307/255568 [Google Scholar]
  643. Wiersema, M.F. and Bantel, K.A. (1992). Top management team demography and corporate strategic change. Academy of Management Journal, 35(1): 91–121, https://doi.org/10.2307/256474 [Google Scholar]
  644. Xie, Y. H. and T. Suh (2014). Perceived resource defciency and internationalization of small-and medium-sized frms. Journal of International Entrepreneurship, 12(3): 207–229, https://doi.org/10.1007/s10843-014-0121-9 [Google Scholar]

Full metadata record

Cite this record

APA style

Balas Rant, Melita & Korenjak Černe, Simone (2017). Balas Rant, M. , & Korenjak Černe, S.. (2017). How to Successfully Internationalize SMEs from the CEE Region: The Role of Strategies of Differentiation and Education. Central European Management Journal, 25(4), 2-27. https://doi.org/10.7206/jmba.ce.2450-7814.205 (Original work published 2017)

MLA style

Balas Rant, Melita and Korenjak Černe, Simone. Balas Rant, M. , and S. Korenjak Černe. “How To Successfully Internationalize Smes From The Cee Region: The Role Of Strategies Of Differentiation And Education”. 2017. Central European Management Journal, vol. 25, no. 4, 2017, pp. 2-27.

Chicago style

Balas Rant, Melita and Korenjak Černe, Simone. Balas Rant, Melita , and Simone Korenjak Černe. “How To Successfully Internationalize Smes From The Cee Region: The Role Of Strategies Of Differentiation And Education”. Central European Management Journal, Central European Management Journal, 25, no. 4 (2017): 2-27. doi:10.7206/jmba.ce.2450-7814.205.

Copyright info

copyright info

CC-BY-NC-ND

People also read: