Strategic management is a key determinant of firm sustainability and competitive advantage. Logistics companies, in particular, face dual constraints in formulating and executing strategies, as they are influenced by both uncertainty in client industr...
Strategic management is a key determinant of firm sustainability and competitive advantage. Logistics companies, in particular, face dual constraints in formulating and executing strategies, as they are influenced by both uncertainty in client industries and the strategic directions of parent firms. These challenges make strategic management in logistics more complex than in other sectors. However, prior research has largely focused on manufacturing and emphasized strategy selection, often neglecting the dynamic interplay of internal and external factors during execution. While recent studies have introduced mechanism-based perspectives, empirical evidence remains limited. This study examines how the core components of strategic management mechanisms-selection, learning, and adjustment-affect firm performance. It also classifies mechanism types based on the relative influence of subject (leader), environment, and resources. Using panel data from 22 listed logistics firms in Korea (1998–2023), regression and t-test analyses are conducted.
Results show that all three processes-selection, learning, and adjustment- significantly influence firm performance. Among these, internal adjustment (e.g., control and change management) has the meaningful impact, highlighting the need for consistency in strategy execution. In learning, internalization of knowledge proves more effective than employee training. Strategy selection also has a significant positive effect. The RSE (environment-innovation) type exhibits the highest performance, as it effectively links resource capabilities to innovation. Analysis of virtuous mechanisms by comparing high- and low-performing firms reveals that while selection levels vary by type, strong learning and adjustment processes are major features of virtuous mechanisms. By quantifying mechanisms and linking them to performance outcomes, this study provides practical implications for logistics firms. It emphasizes the critical role of learning and adjustment in building sustainable strategic execution capabilities.