Abstract
Dynamic capabilities are vital for a firm to survive and prosper in changing economic contexts. Prior research has substantially advanced our understanding of dynamic capabilities, but little is yet known about their microfoundations. In particular, the cognitive underpinnings of individual capabilities have received little attention, yet they ultimately contribute to performance differences on the organizational level. The present study addresses this gap by exploring the interplay among various individual cognitive capabilities and strategy tools, and it examines their impact on the generation of high-quality strategic options. Taking into account that cognitive capabilities form complex combinations of skills that need to be considered holistically, we adopt a configurational perspective. In specific terms, we conduct an experimental study and we rely on fuzzy-set methodology to analyze how various individual cognitive capabilities, in the form of analytic skill, strategic intelligence, and level of creativity combine with scenario analysis or SWOT analysis to affect the generation of high-value and high-novelty strategic options. Our results provide compelling evidence for the existence of specific high-performing configurations, whilst emphasizing that excellence in generating high-quality strategic options is highly dependent on the specific set of individual mental skills and strategy tools applied.
Published Version
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