ANTECEDENTS TO THE IMPLEMENTATION OF HYBRID STRATEGY IN A DYNAMIC BUSINESS ENVIRONMENT – AN ECONOMETRIC ANALYSIS OF BUSINESS DECISIONS IN GHANA
Vol. Volume 21, Number 4 December/2016
Ahmed Agyapong, Kofi Amanor and Kofi Poku
This study examines conditions that necessitate the adoption of a hybrid strategy in a dynamic market. The analysis is operationalized on a multisectorial sample of 610 firms in Ghana. The binomial logit regression model was estimated to examine the probability of the sampled firms to adopt hybrid strategy based on an array of competitive-based and firm-specific variables. The results show that generally, firms with superior firm performance, high organisational capabilities in marketing and innovation, strong positions in the implementation of single strategies, low industrial competitiveness and high growth in firm size are more likely to adopt hybrid strategy to increase competitive advantage. However, we also observed that conditions are not homogenous across industries. We conclude that manufacturing firms apply competitive-based criteria than firm-specific factors in their decision to adopt hybrid strategies.
Hybrid Strategy, Competitive Advantage, Antecedents, Dynamic Market, Ghana