Uncovering hidden human capital in uncertain times by exploring strategic resources in Spanish wineries
International Journal of Wine Business Research
; 34(1):69-85, 2022.
Article
in English
| ProQuest Central | ID: covidwho-1672514
ABSTRACT
PurposeThe purpose of this paper is to explore the continuous identification of tangible and intangible strategic resources needed to achieve competitive advantages in uncertain times in Spanish wineries, highlighting the critical value of human capital.Design/methodology/approachBy means of a case study of a Spanish Sherry winery theoretically based on the resource-based view (RBV) of the firm, the paper focuses on the influence of environmental uncertainty on firms’ strategic resources and the need for in-depth knowledge. Direct participation and experience in the business have allowed access to data for longitudinal exploratory analysis.FindingsHuman capital, especially managers’ knowledge and experience, has been the key to the survival and success of the company analysed, throughout its history.Practical implicationsThe paper guides managers, especially in microenterprises and SMEs, on the inclusion among the firm’s strategic resources of a part of their own human capital that is generally not considered.Originality/valueThis paper contributes to the RBV and self-reflection theory by demonstrating the value of human capital in a small family business under extremely uncertain times.
Business And Economics--Production of Goods And Services; Wine industry; Uncertainty; Human capital; Micro-enterprise; Family firm; Self-assessment; Competitive strategy; Conceptual/theoretical; Spain; Not applicable; Critical success factors; Environment; Human resources; Wines and spirits; Wineries; Strategic management; Competitive advantage; Family owned businesses; Business competition; Managers; Employees; Pandemics; Decision making; Medical research; Leadership; Coronaviruses; Wineries & vineyards; COVID-19; 31213:Wineries
Full text:
Available
Collection:
Databases of international organizations
Database:
ProQuest Central
Language:
English
Journal:
International Journal of Wine Business Research
Year:
2022
Document Type:
Article
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