Dynamic capabilities, resulting from activities that allow conscious and skillful modification of a firm’s strategic potential, are seen as one of the key drivers of a firm’s value creation, competitive advantage and above-average performance in changing environments. However, little is known about how dynamic capabilities can shape business survival and performance during crises. The research objective of this paper is twofold. First, through a literature review, we seek to identify which first-order dynamic capabilities–managerial decisions under uncertainty—are vital for rapid response to a crisis. Second, we present the results of research carried out among 151 small and medium-sized companies in Poland immediately after the beginning of the economic lockdown (April 2020). The survey that we developed identifies which dynamic capabilities were essential for businesses to survive during this unexpected black swan event. We also present dependence and regression analyses showing the links between the identified dynamic capabilities and value creation, understood as retaining employees and production levels, as well as value capture, understood as maintaining cash flow and current revenues.

While most researchers interested in the concept of dynamic capabilities focus their attention on analyzing how companies transform their resources to compete in their environment, the process of developing dynamic capabilities is treated as a marginal issue. Although the literature suggests various approaches to developing dynamic capabilities, they are formulated in general terms, and doubts can be raised about the links between actions. There is also a lack of empirical research indicating the links between activities in the process of developing dynamic capabilities and their influence on the effectiveness of an organization. The aim of the study is to formulate a proposal for a model of the process of developing dynamic capabilities aimed at increasing the economic effectiveness of a company and to determine the links between the activities in the model. The theoretical contribution of the paper consists in presenting a model of the process of developing dynamic capabilities aimed at increasing the economic effectiveness of the company. The results presented in the paper refer to an empirical examination of the model of developing dynamic capabilities, covering five activities: searching for opportunities; knowledge management and learning; coordination; configuration and reconfiguration; and organizational adaptation. The study also includes an examination of the possible impact the components of the dynamic capabilities building process have on a company’s performance. The study uses the survey method and data was obtained from top managers. The conclusion, based on data from 471 Polish companies, was made using structural equation modelling. The results of the empirical research suggest that the individual activities in the process of developing dynamic capabilities are interconnected, and through mutual interactions and couplings, they positively affect the economic effectiveness of an enterprise. The results indicate that searching for opportunities is the precursor, and the main factor influencing the other activities in the process, which suggests that managers should focus on improving activities in this area.

The energy sector is undergoing significant transformation induced by environmental changes and increasing pressure from stakeholder groups. In order to quickly seize opportunities in the unpredictable contemporary business environment, leaders increasingly face the challenge of ensuring an appropriate level of organisational agility, achieved through workforce agility. In striving to achieve workforce agility, responsible leaders should consider the intrinsic motivation oriented towards work, how it affects a team's performance, and the level of its involvement. Based on studies that combine leadership, empowerment, and agility, we analyse whether and how responsible leadership and psychological empowerment support workforce agility in the energy sector firms. Using structural equation modelling, we analyse data gathered from a group of 187 managers and experts. The results support a hypothesised relationship between leadership focused on responsible management, psychological empowerment, and workforce agility. The survey reveals that a combination of responsible leadership and psychological empowerment affects workforce agility.

Purpose: The paper aims to explain how agility capabilities (competence, flexibility, responsiveness and speed) influence the chance of improving a small and medium-sized enterprise's (SME's) competitive position, measured by market share and profit.Design/methodology/approach: Combining organisational agility with competitiveness, the authors analysed how an SME's activities in the field of agility capabilities – competence, flexibility, responsiveness and speed – influence the chance of improving their competitive position. Data were collected from 1,286 SMEs from Poland using the computer-assisted personal interviews method (CAPI). To analyse the data, the authors used logistic regression and odds ratios.Findings: The study provides empirical evidence of the relationship between agility capabilities and an SME's competitive position. First, the results suggest that all the studied agility capabilities positively impact SMEs' competitive position. Second, the study shows that seeking to increase market share requires particular attention to flexibility, the impact of which is slightly higher than that of the other variables. Third, the findings suggest that the drive to increase profitability requires an appreciation of responsiveness and competence.Originality/value: The literature contains much discussion about the relationship between agility capabilities and a company's competitive position. However, these studies refer to large companies, whilst the question of the relationship between agility capabilities and competitive position amongst SMEs remains mainly unanswered, which given SMEs' contribution to the creation of economic growth, seems difficult to understand. Although small companies are by nature highly flexible, due to the size of the companies' operations and flattened and decentralised structure, companies' competitive potential is limited as a result of the limited resources that can be devoted to developing procedures for change.