Adaptation and inertia in dynamic environments

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The economics of COVID-19: initial empirical evidence on how family firms in five European countries cope with the corona crisis (2020, background): “Stieglitz et al. (2016) explain the positive effects of a persevering strategy by the fact that frequent strategic changes reduce the value of a strategic renewal.”
Dynamic Balancing of Exploration and Exploitation: The Contingent Benefits of Ambidexterity (2018, background): “The formal modeling perspective suggests that these measures include adaptive search to realign the organization’s activities with the altered environmental conditions (Stieglitz et al. 2016).”