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Abstrak :
ABSTRACT
Recently, research on paradoxical strategies has been considered critical in winning in the competitive dynamic landscape, characterized by uncertainty and rapid changes in the business environment. Such environmental uncertainties require firm to apply paradoxical strategies; combining strategic flexibility and strategic consistency (Parnell, 1994). This study addresses three main questions: what is the effect of strategic flexibility on firm's performance; what is the contingent effect of perceived environmental uncertainty on the relationship between paradoxical strategies and firm's performance. Questionnaires were distributed to 131 CEOs or members of top management team of Indonesian commercial banks (including sharia banks); and the 59 returned responses were analyzed to test hypotheses. The results indicate that strategic flexibility has positive effect on bank's performance, while strategic consistency does not have significant effects o bank's performance. In terms of combining these two paradoxical strategies, the results of this study confirm that the effect of strategic flexibility on bank's performance depends on strategic consistency and environmental uncertainty.

Abstrak :
Recently, research on paradoxical strategies is receiving considerable attention from both researchers and practitioners. The value of paradoxical strategies is currently considered critical in increasing firm performance and winning in the competitive dynamic landscape, which is characterized by uncertainty and rapid changes in the industry and business environment (Barney and Hesterly, 2006). Such perceived environmental characteristics require firm to apply paradoxical strategies; combining strategic flexibility and strategic consistency (Pamell, 1994).

This study addresses four main questions. First, what is the effect of strategic flexibility on Erm performance. Second, what is the effect of strategic consistency on firm performance. Third, what is the effect of combining strategic flexibility and strategic consistency on firm performance. Fourth, what are the contingent effects of perceived environmental uncertainty on the relationship between paradoxical strategies and firm performance. This study conceprualizes the application of paradoxical strategies as a set of capabilities that enable an organization not only adapt to changing environmental conditions, but also to maintain current strategies and actions for a considerable period of time.

Recognizing the broad nature of strategic flexibility, it is measured in terms of pre-emptive moves, exploitative moves, protective moves, and corrective moves. Strategic consistency is measured in terms of proactive consistency and reactive consistency. Perceived environment is measured in terms of munificence, dynamism, and complexity. Overall firm perfonnance is measured in terms of financial performance and strategic performance, among others are profit, profitability, income, market share, position in the industry, and customer loyalty.

A survey was conducted in the Indonesian banking industry to measure the degree of perceived environmental uncertainty, the level of strategic flexibility and strategic consistency, and the resulting firm performance. Questionnaires were distributed to 131 CEOs or members of top management team of commercial banks (including sharia banks) and the 59 retumed responses were analyzed to test hypotheses.

The results indicate that strategic flexibility has positive effect on bank performance, while strategic consistency does not have positive effect on bank performance. In terms of combining these two paradoxical strategies, the results of this study conhnn that the effect of strategic flexibility on bank performance depends on strategic consistency and/or perceived environment. Contrary to expectation of this study, the effect of strategic consistency on bank performance insignificantly depends on perceived environment.

This study makes several important contributions to growing literature on paradoxical strategies and strategic management discipline. First, this study is one of limited researches on the effect of paradoxical strategies on firm performance. It examines the effect of combining paradoxical strategies on fum performance with considering perceived environmental uncertainty as the antecedent. Second, it also fills in the gap in previous study on managing paradoxes in service operations setting at the corporate/strategic level. Third, this study develops a set of measures of strategic consistency and strategic perfomrance that captures building on prior concepts.

The fundings in this study offer inputs for the development of banking industry in Indonesia. For bank management, to sustain its growth, banks should increase its infomation technology capabilities, which are mainly supported by flexible systems and knowledgeable people. For the banking regulator and the government agency alike, the inputs are as follows: carry out the detailed research on the impact of regulation and govemment policy on bank flexibility; take Bank NTT, Bank Jatim, and Bank Sumsel as samples for other regional development banks as the agile banks with high performance; create regulation and policy to drive innovative banking product development; encourage the commercial banks to undertake information technology investments to boost innovative financial products and services; create speciiic regulation about outsourcing service provider; and encourage further development of Internet banking services by improving system infrastructure environment, enabling policy and regulatory environment for this business, and building up a comprehensive e-security public policy framework.

Abstrak :
ABSTRAK
Perkembangan terkini pada berbagai penelitian manajemen stratejik menyoroti semakin meningkatnya ketidakpastian pada lingkungan tugas (task environment) yang mengakibatkan keunggulan posisi (positional advantage) perusahaan tergerus semakin cepat dari waktu ke waktu. Hal ini mengakibatkan perusahaan-perusahaan harus menghadapi strategi paradox (strategy paradox) yang menuntut mereka untuk melakukan pengambilan komitmen strategis (strategic commitment) secara cepat dan akurat ditengah-tengah tingginya ketidakpastian strategis (strategic uncertainty). Penelitian ini hendak menganalisa konfigurasi berbagai perusahaan yang mampu mempertahankan keunggulan posisi dan kinerjanya ditengah-tengah tingginya ketidakpastian strategis pada lingkungan tugasnya. Kuesioner disebarkan kepada tim manajemen puncak dari 122 bank di Indonesia. Berbeda dari penelitian serupa yang dilakukan oleh Hamsal dan Agung (2007) yang menemukan bahwa persepsi akan ketidakpastian lingkungan (perceived environmental uncertainty) berkorelasi signifikan dan positif terhadap fleksibilitas strategi (strategic flexibility), penelitian ini menemukan bahwa persepsi akan ketidakpastian lingkungan tidak lagi memiliki korelasi secara signifikan dengan strategi perbankan di Indonesia. Lebih lanjut, penelitian ini menemukan bahwa untuk meningkatkan dan mempertahankan kinerjanya, perbankan perlu memprioritaskan segala usaha dan sumber dayanya untuk mempertahankan fleksibilitas strategi sebelum mengalokasikannya untuk membangun keunggulan posisi dan mempertahankan konsistensi strategi (strategic consistency). Sejalan dengan itu, apabila fokus perbankan adalah membangun dan mempertahankan keunggulan posisinya, maka segala usaha dan sumber daya harus diprioritaskan untuk membangun fleksibilitas strategi. Lebih lanjut, penelitian ini menemukan bahwa kinerja perbankan akan maksimal apabila perbankan mampu mendayagunakan fleksibilitas strateginya untuk membangun keunggulan posisi di dalam industri, dan lebih lanjut, mampu mempertahankannya dengan konsistensi strategi yang tinggi.

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ABSTRACT
Recently, researches on strategic management have been concerned with the increasingly uncertain, yet becoming more important, task environment that erodes firms? positional advantage more rapidly every day. As a result, firms are facing paradox of strategy, which demands rapid, yet accurate, strategic commitment in the present of strategic uncertainty. This research addresses questions regarding how organizations are best configured in facing environment with highly strategic uncertainty, while maintaining their positional advantage and high performance. Questionnaires were distributed to 122 top management teams of Indonesian commercial banks. In contrast with earlier research by Hamsal and Agung (2007) who found that perceived environmental uncertainty has a positive, significant correlation to Indonesian banks? strategic flexibility, this research found that environmental uncertainty does not has any significant correlation to Indonesian banks? strategy. Further this research also identify that in order to increase their performance, Indonesian banks should allocate most of their efforts and resources on increasing their Strategic Flexibility before they put any efforts and resources on creating Positional Advantage and maintaining Strategic Consistency. In addition, if any of the Indonesian banks have an intention on increasing their position in the industry, they should also allocate most of their efforts and resources on being strategically flexible. Further, when their SF has already become a distinctive PA, Indonesian banks should begin to maintain consistency in their strategy as the highest value of performance can be achieved when their PA is maintained by a strong basis of SC.