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Managing in an economic crisis: The role of market orientation in an international law firm

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  • Lettice, Fiona
  • Tschida, Markus
  • Forstenlechner, Ingo

Abstract

This research paper contributes to the understanding of the relationship between market orientation and performance in the context of a law firm during a time of economic crisis. The contribution is twofold, adding to the fairly limited research on market orientation within law firms, and to the limited research on the role of market orientation in times of economic crisis. The findings, from the questionnaire survey and semi-structured interviews within practice groups of a large multinational law firm, conclude that market orientation is important during an economic crisis. Those practice groups with higher market orientation scores withstand the increased turbulence and outperform those practice groups with lower market orientation scores.

Suggested Citation

  • Lettice, Fiona & Tschida, Markus & Forstenlechner, Ingo, 2014. "Managing in an economic crisis: The role of market orientation in an international law firm," Journal of Business Research, Elsevier, vol. 67(1), pages 2693-2700.
    • Handle: RePEc:eee:jbrese:v:67:y:2014:i:1:p:2693-2700
    DOI: 10.1016/j.jbusres.2013.03.018
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    References listed on IDEAS

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    Cited by:

    1. Tatiana Beliaeva & Galina Shirokova & William Wales & Elena Gafforova, 2020. "Benefiting from economic crisis? Strategic orientation effects, trade-offs, and configurations with resource availability on SME performance," International Entrepreneurship and Management Journal, Springer, vol. 16(1), pages 165-194, March.
    2. Knudsen, Eirik Sjåholm, 2019. "Bad weather ahead: Pre-recession characteristics and the severity of recession impact," Journal of Business Research, Elsevier, vol. 104(C), pages 118-130.
    3. Halilu Bello Rogo & Halilu Bello Rogo & Mohd Noor Mohd. Shariff & Muhammad Haroon Hafeez, 2017. "Moderating Effect of Access to Finance on the Relationship between Total Quality Management, Market Orientation and Small and Medium Enterprises Performance: A Proposed Framework," International Review of Management and Marketing, Econjournals, vol. 7(1), pages 119-127.
    4. Eldon Y. Li & Shu-Fen Ko, 2021. "Employee’s Market Orientation Behavior and Firm’s Internal Marketing Mechanism: A Multilevel Perspective of Job Performance Theory," Sustainability, MDPI, vol. 13(12), pages 1-25, June.
    5. Shirokova, G. & Beliaeva, T. & Gafforova, E., 2016. "Strategic orientations during economic crisis: Stay focused or adopt a broader strategic direction?," Working Papers 6444, Graduate School of Management, St. Petersburg State University.
    6. Kerstin Bremser & María del Mar Alonso-Almeida & Josep Llach, 2018. "Strategic alternatives for tourism companies to overcome times of crisis," Service Business, Springer;Pan-Pacific Business Association, vol. 12(2), pages 229-251, June.
    7. Mann, Manveer & Byun, Sang-Eun, 2017. "To retrench or invest? Turnaround strategies during a recessionary time," Journal of Business Research, Elsevier, vol. 80(C), pages 24-34.

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