The US brewing industry, strategic windows and survival

摘要

Purpose - This paper aims to investigate how dynamic capabilities enabled survival in a select group of brewers, during one of the lengthiest and most severe industry consolidations in history. In doing so, we advance Abell's (1978) theory of strategic windows through integration with the resource-based view of the firm. Design/methodology/approach - Using a mixed method approach, we first apply case study methods to develop hypotheses around the timing and level of operational capability required for survival. In the second phase, we test these hypothesized estimations on the USA Brewing population. Findings - Indicate that brewers which had advanced distribution and manufacturing operational capabilities before the strategic window of opportunity closed had higher survival rates. Practical implications - This study reinforces the importance of making timely strategic investments in capabilities. Originality/value - The integration of strategic window and capability theories advances our understanding of the roles that capabilities and time play in determining firm survival.