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TERRA ECONOMICUS

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  • No 4
  • Dynamic capabilities of an industrial enterprise as an element of institutional environment: Empirical assessment

Dynamic capabilities of an industrial enterprise as an element of institutional environment: Empirical assessment


TERRA ECONOMICUS, , Vol. 22 (no. 4),

The challenges of quantitatively and qualitatively assessing the institutional environment of an industrial enterprise are twofold. On the one hand, the complexity of the subject matter makes it difficult to fully understand and analyze. On the other hand, there are not enough effective tools available to assess this complex environment effectively. We propose an approach to assessing the institutional environment that combines the elements of institutional theory and the resource concept. According to this approach, dynamic capabilities are not just a resource but are a key part of the institutional environment of industrial enterprises. This approach is crucial for assessing the potential for domestic industry to develop in the current economic environment. We argue that the ability to adapt to changes in the external environment and reconfigure available resources determines the coordination role of the institutional environment. To assess these dynamic capabilities, a questionnaire survey is conducted. The sample included industrial enterprises in the Lipetsk Region of Russia. The survey results were presented in two-year dynamics as a multi-component assessment of the key competencies of an industrial enterprise: its ability to adapt to changes in the external environment and its ability to reconfigure its resources. The findings show that that enterprises have a relatively low ability to reconfigure in terms of human resource management. This is because employees may not be able to adapt to new conditions in the internal environment. However, the data show that industrial enterprises are building competencies to create innovations through cooperative interactions in response to external constraints. Research findings can be used by industrial sector enterprises in strategic planning and developing measures to improve the sustainability and efficiency of their economic activity.
Citation: Shevchenko I.K., Razvadovskaya Yu.V., Kaplyuk E.V., Serikov V.V. (2024). Dynamic capabilities of an industrial enterprise as an element of institutional environment: Empirical assessment. Terra Economicus 22(4), 62–74 (in Russian). DOI: 10.18522/2073-6606-2024-22-4-62-74


Keywords: institutional environment; industrial enterprise; coordinating function; dynamic capabilities; questionnaire survey

JEL codes: D22, D83

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606