Theoretical Framework and Research

Theoretical Framework and Research

A theoretical framework reduces the scope of the study by focusing on the selected research variables and defining the specific perspective that the researcher will consider in the analysis and interpretation of the data to be collected. The specific theories that underpin the study, variables, and relationships between variables considered to address research questions on the impact of COVID-19 on businesses and measures taken by businesses to survive during the COVID-19 period are transformational leadership and dynamic capabilities theories. Dynamic capabilities are an organization’s ability to leverage its strengths to respond to environmental changes (Grant & Bakhru, 2016). Therefore, they are the strategic and organizational resources organizations use to achieve new reconfigurations in their resources as markets collide, emerge, die, evolve, and split.

The dynamic capabilities theory posits that organizations should identify and assess opportunities, mobilize resources to take advantage of an opportunity, capture value, and reconfigure the organization’s tangible and intangible assets to maintain competitive advantage (Franco et al., 2016). Dynamic capabilities play a significant role in helping organizations survive harsh times, such as the economic hardships arising from the COVID-19 pandemic. Business owners can apply the theory to reconfigure their strategy and the use of resources to develop a sustainable competitive advantage.

Moreover, the transformational leadership theory focuses on the role of a leader in initiating change. According to Karaca et al. (2012), transformational leadership effectively mitigates the impacts of a crisis by allowing leaders and followers to collaborate and exchange ideas on the best measures to reduce the impact of the crisis on organizational goals and performance. Transformational leaders can encourage employees to withstand any inconveniences from an unexpected event. For instance, during the current COVID-19 pandemic, employees have been forced to come to terms with some decisions made to secure the future of their workplaces. Some of these decisions include longer shifts and salary cuts. Therefore, transformational leadership must ensure that such measures do not affect the employees’ productivity by making them understand that the adjustments are necessary.

References

Franco, A., Mitchell, M., & Skrzypacz, A. (2016). An economic theory of dynamic capabilities. The Oxford Handbook of Dynamic Capabilities. https://doi.org/10.1093/oxfordhb/9780199678914.013.28

Grant, R. M., & Bakhru, A. (2016). Situating dynamic capabilities. The Oxford Handbook of Dynamic Capabilities. https://doi.org/10.1093/oxfordhb/9780199678914.013.023

Karaca, H., Kapucu, N., & Van Wart, M. (2012). Examining the role of transformational leadership in emergency management: The case of FEMA. Risk, Hazards & Crisis in Public Policy, 3(3), 19-37. https://doi.org/10.1002/rhc3.10

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Theoretical Framework and Research

For this discussion, describe a theoretical framework’s role in your business research study, including any specific theories underpinning the study, variables, relationships between variables, and a clear explanation of why you expect these relationships to exist. Refer to the key theorists in your field of research who have researched the problem you are investigating.