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Book part
Publication date: 21 September 2018

Richard A. Bettis and Songcui Hu

Herbert A. Simon and Alan Newell won the Turing Award jointly in Computer Science for foundational work on Artificial Intelligence. Simon also won the Nobel Prize in…

Abstract

Herbert A. Simon and Alan Newell won the Turing Award jointly in Computer Science for foundational work on Artificial Intelligence. Simon also won the Nobel Prize in Economics for the concept of “bounded rationality.” In both cases, the same heuristic was deemed fundamental: “Search till a satisfactory solution is found.” We argue that behavioral strategy can learn a great deal from the Theory of Computational Complexity and Artificial Intelligence. These fields can provide a sounder theoretical grounding for bounded rationality and for the necessity and usefulness of heuristics. Finally, a concept of “organizational intractability” based roughly on the metaphor provided by the Theory of Computational Complexity may be useful in determining what analytical decision technologies are actually intractable in real organizations with constraints on time and managerial attention.

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Behavioral Strategy in Perspective
Type: Book
ISBN: 978-1-78756-348-3

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Book part
Publication date: 13 August 2007

Todd M. Alessandri, Diane M. Lander and Richard A. Bettis

Strategy is ultimately aimed at creating shareholder value. We examine the relationship among intrinsic (DCF) value, market value, and the value of growth options using a

Abstract

Strategy is ultimately aimed at creating shareholder value. We examine the relationship among intrinsic (DCF) value, market value, and the value of growth options using a “perfect foresight” model. Our findings suggest that Kester's (1984) initial assessment of growth option values may not hold under alternative valuation models. We highlight important issues in the valuation of growth options related to market expectations, modeling assumptions and estimation methods. The findings suggest that the firm's growth option value depends on three factors, each of which impacts investor expectations: (1) the macroeconomic environment; (2) the industry in which the firm participates; and (3) firm specific factors.

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Real Options Theory
Type: Book
ISBN: 978-0-7623-1427-0

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Book part
Publication date: 20 July 2000

Richard A. Bettis

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Economics Meets Sociology in Strategic Management
Type: Book
ISBN: 978-1-84950-051-7

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Book part
Publication date: 20 July 2000

C.K. Prahalad and Richard A. Bettis

Current research offers alternative explanations to the “linkage” between the pattern of diversification and performance. At least four streams of research can be…

Abstract

Current research offers alternative explanations to the “linkage” between the pattern of diversification and performance. At least four streams of research can be identified. None of these can be considered to be a reliable, predictive theory of successful diversification. They are, at best, partial explanations. The purpose of this paper is to propose an additional “linkage,” conceptual at this stage, that might help our understanding of the crucial connection between diversity and performance. The conceptual argument is intented as a “supplement” to the current lines of research, rather than as an alternative explanation.

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Economics Meets Sociology in Strategic Management
Type: Book
ISBN: 978-1-84950-051-7

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Economics Meets Sociology in Strategic Management
Type: Book
ISBN: 978-1-84950-051-7

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Article
Publication date: 1 April 1985

Frederick W. Gluck

If corporate America's love affair with 1970s‐style strategic planning is not over, it is certainly on the rocks. Planning that relies on past experience, extrapolation…

Abstract

If corporate America's love affair with 1970s‐style strategic planning is not over, it is certainly on the rocks. Planning that relies on past experience, extrapolation, and incremental moves cannot meet today's challenges, such as unexpected competition, saturated markets, and changing technologies.

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Journal of Business Strategy, vol. 6 no. 2
Type: Research Article
ISSN: 0275-6668

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Book part
Publication date: 21 September 2018

Abstract

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Behavioral Strategy in Perspective
Type: Book
ISBN: 978-1-78756-348-3

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Article
Publication date: 1 March 1994

Carol M. Lawrence and Robert W. Parry

This paper develops and tests a descriptive model of management accounting system choice through an empirical analysis of the adoption of innovative cost accounting…

Abstract

This paper develops and tests a descriptive model of management accounting system choice through an empirical analysis of the adoption of innovative cost accounting systems in not-for-profit hospitals. The logistic regression analysis indicates that management accounting system design is impacted by organi zational objectives, technological complexity, and other features of the organizational control system. Descriptive statistics indicate limited use of management accounting techniques common in manufacturing firms, such as standard costing and variance analysis. A cross-lagged model suggests that implementation of an innovative management accounting system may be causally linked to decreasing operating costs.

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Journal of Public Budgeting, Accounting & Financial Management, vol. 6 no. 1
Type: Research Article
ISSN: 1096-3367

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Article
Publication date: 1 June 1991

Stephanie Newport, Gregory G. Dess and Abdul M.A. Rasheed

Managers need to be sensitized to the undesirable consequences of implementing plans that contain incongruent elements.

Abstract

Managers need to be sensitized to the undesirable consequences of implementing plans that contain incongruent elements.

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Planning Review, vol. 19 no. 6
Type: Research Article
ISSN: 0094-064X

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Book part
Publication date: 13 August 2007

Abstract

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Real Options Theory
Type: Book
ISBN: 978-0-7623-1427-0

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