Search results

1 – 10 of over 78000
Article
Publication date: 15 June 2018

Brian Leavy

This interview with the authors of Strategy – Beyond the Hockey Stick offers their insights into a major problem which has bedevilled the strategy process in too many companies…

Abstract

Purpose

This interview with the authors of Strategy – Beyond the Hockey Stick offers their insights into a major problem which has bedevilled the strategy process in too many companies over the years - the combination of bold but delusional “hockey-stick” forecasts and timid strategic moves – a coupling that severely limits the impact of any strategy.

Design/methodology/approach

The McKinsey authors examined publicly available information on the world’s 2,393 largest companies, and plotted their average annual economic profit

Findings

They found that the curve is extremely steep at the both ends: those in the top quintile average some 30 times as much economic profit as those in the middle three quintiles.

Practical implications

One of the biggest pitfalls in the strategy process is this very human propensity for bold forecasts and timid actions. Strategy requires confronting uncertainly head-on by embracing the notion of probability by calibrating the odds of a strategy succeeding, building in explicit trigger points to re-examine decisions as we learn more. 10;

Originality/value

What has been largely missing from the literature is a study of the average-to-top transition based on an extensive data set, one that encompasses a greater range of performance profiles and average-to-top transition trajectories. This is the knowledge gap that Strategy Beyond the Hockey Stick: People, Probabilities, and Big Moves to Beat the Odds fills.

Article
Publication date: 16 October 2017

Julia Hautz

While strategy was traditionally perceived as exclusive, and limited to small groups within organizations, recently a shift toward greater openness through inclusion of a larger…

2372

Abstract

Purpose

While strategy was traditionally perceived as exclusive, and limited to small groups within organizations, recently a shift toward greater openness through inclusion of a larger number and variety of actors is emerging. The purpose of this paper is to adopt a social network perspective to develop a theoretical framework on how this increased openness has a varying impact in the different phases of the strategy process.

Design/methodology/approach

The author suggests that the strategy process is shaped through social interactions between individuals. Specifically the author conceptualizes how introducing openness affects individuals’ structural and relational characteristics, which impact generating new strategic ideas (variation), and selecting (selection), and integrating them into the existing set of routines (retention).

Findings

The framework shows that benefits and costs of increased openness balance differently. While substantial benefits may be realized in the idea generation phase, costs may outweigh the benefits in the selection and retention phase.

Practical implications

Based on the framework, implications can be drawn on how openness should be introduced in the different phases of the strategy process. Specifically the author discusses appropriate open strategy tools based on social technologies, which organizations can use to benefit from openness in the different stages.

Originality/value

Open strategy is a newly emerging phenomenon, which seems to fundamentally change the strategist’s work. More open, inclusive ways of strategizing offer new benefits but also create costs in the strategy process. This paper deepens the theoretical understanding of the consequences of openness in the strategy process.

Details

Management Decision, vol. 55 no. 9
Type: Research Article
ISSN: 0025-1747

Keywords

Book part
Publication date: 6 September 2021

Akwal Sunner, Aylin Ates and Peter McKiernan

This chapter develops a conceptual understanding on open strategy through a systematic literature review. With a sample of 148 publications, the authors examine the key debates in…

Abstract

This chapter develops a conceptual understanding on open strategy through a systematic literature review. With a sample of 148 publications, the authors examine the key debates in the field of open strategy and identify a number of limitations such as an excessive definitional focus and a lack of distinct empirical analysis of research in the field. The author’s analysis clarifies open strategy by classifying its main characteristics and harnessing the different aspects together in a comprehensive definition. In doing so, the authors examine how the underpinnings of open strategy can be conceptualized in order to provide a research agenda for how future empirical investigations into open strategy could progress our understanding of an evolving practice.

Details

Strategic Responses for a Sustainable Future: New Research in International Management
Type: Book
ISBN: 978-1-80071-929-3

Keywords

Book part
Publication date: 17 February 2023

Behzad Mohammadian and Ali Shafiei Bafti

Open strategy is a new paradigm that has more benefit to business especially small ones. The aim of this research is to clear this proposition that in the age of digital…

Abstract

Open strategy is a new paradigm that has more benefit to business especially small ones. The aim of this research is to clear this proposition that in the age of digital transformation adopting open strategy paradigm will help business to attain competitive advantage. To this purpose, two main variables that have capability in the mentioned new paradigm, learning and innovation, came into focus. Based on a standard questionnaire, data were gathered from high-tech Small and medium-sized enterprises (SMEs) that are active in Tehran science and technology parks. Reliability of the instrument was confirmed at an appropriate level. Data were analyzed based on structural equation modeling and results have shown the positive effect of learning on innovation and competitive advantage, and between innovation and competitive advantages. These findings indicate that SMEs must pay close attention to the nature, dimensions, dynamics, and elements of open strategy to attain competitive advantage in the VUCA1 world.

Details

Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Article
Publication date: 11 April 2016

Gerardo David Abreu Pederzini

The implicit and indirect influence of classical science on strategic management has been of utmost importance in the development of the discipline. Classical science has…

2948

Abstract

Purpose

The implicit and indirect influence of classical science on strategic management has been of utmost importance in the development of the discipline. Classical science has underpinned the main and even contrasting strategic management cultures. Classical science has undoubtedly allowed strategic management to thrive. Nevertheless, important limitations, roadblocks and challenges have also been produced. This paper aims to explore the influence of classical science on the main positivist and interpretive strategic management cultures.

Design/methodology/approach

A conceptual review is done on the influence of classical science on positivist and interpretivist traditions in strategic management.

Findings

The benefits and shortcomings of classical science in strategic management are explored and presented. Furthermore, the convoluted implicit relationship between strategic management and science is shown to be changing but persisting, as to face some of the challenges of the classical science culture of strategic management, a complexity culture, also inspired partially on science, seems to be developing in strategic management. Complexity seems to be emerging as an alternative, which might allow strategic management to solve some of its current dilemmas and, thus, change its implicit relationship with science.

Originality/value

The paper presents a novel way to conceptualize historical cultures of strategic management via their connection with academic cultures that have historically emerged from science. Through the analysis here done, a possible candidate for a Kuhninan normal strategic management and its potential revolution will be suggested, based on the recognition of the inheritance of classical science and currently complexity theory in strategic management.

Details

Journal of Management History, vol. 22 no. 2
Type: Research Article
ISSN: 1751-1348

Keywords

Content available
Article
Publication date: 18 March 2020

Craig Henry

664

Abstract

Details

Strategy & Leadership, vol. 48 no. 2
Type: Research Article
ISSN: 1087-8572

Article
Publication date: 29 March 2021

Henry Adobor

This paper aims to argue that national cultural context variables influence open strategy formation processes. This study suggests that country-specific differences may influence…

Abstract

Purpose

This paper aims to argue that national cultural context variables influence open strategy formation processes. This study suggests that country-specific differences may influence open strategy, a form of strategic decision-making and present propositions linking national culture dimensions, national trust orientation and open strategy.

Design/methodology/approach

The conceptual framework links the literature on Hofstede’s cultural dimensions to the open strategy paradigm. This paper adopts a contingency approach linking national culture to open strategy.

Findings

The theoretical arguments demonstrate that uncertainty avoidance, time orientation, power distance, individualism versus collectivism and national trust culture all have a moderating influence on the antecedents and outcomes of open strategy. The findings extend the external validity of the open strategy paradigm and show that a culture-bound explanation of open strategy may be useful to the understanding of open strategy.

Practical implications

The findings highlight the challenges and opportunities that managers face when they adopt open strategy processes in multinational settings and across different cultures. Managers need to be aware that national cultural variables affect how employees behave and how they are likely to act when faced with opportunities for inclusion, shared decision-making and transparency. The findings suggest that training employees ahead of time on the cultural effects of their behavior may aid the successful adoption of open strategy in different cultures.

Originality/value

This manuscript to our knowledge, maybe one of the first to make a direct link between openness and national cultural values. In the process, the conceptual framework extends research on the role of context on openness, as well as research at the nexus of cross-cultural issues and strategic decision-making.

Details

Management Research Review, vol. 44 no. 9
Type: Research Article
ISSN: 2040-8269

Keywords

Content available
Article
Publication date: 26 July 2018

Larry Goodson

303

Abstract

Details

Strategy & Leadership, vol. 46 no. 4
Type: Research Article
ISSN: 1087-8572

Article
Publication date: 8 August 2016

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

334

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

The benefits and shortcomings of classical science in strategic management are explored and presented. Furthermore, the convoluted implicit relationship between strategic management and science is shown to be changing but persisting, as to face some of the challenges of the classical science culture of strategic management. A complexity culture, also inspired partially on science, seems to be developing in strategic management. Complexity seems to be emerging as an alternative, which might allow strategic management to solve some of its current dilemmas and, thus, change its implicit relationship with science.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Details

Strategic Direction, vol. 32 no. 8
Type: Research Article
ISSN: 0258-0543

Keywords

Book part
Publication date: 10 December 2018

Felipe A. Csaszar

An emerging management trend is to use the “wisdom of the crowd” to make decisions traditionally made by the top management alone. Research on this phenomenon has focused mainly…

Abstract

An emerging management trend is to use the “wisdom of the crowd” to make decisions traditionally made by the top management alone. Research on this phenomenon has focused mainly on the capacity of crowds to generate ideas, but much less is known about a crowd’s capacity to select ideas. To study crowd-based idea selection in firms, this chapter develops a mathematical model of a crowd that makes decisions by majority voting. The model takes into account contingencies that are of particular importance to firms, namely: the size of the population from which the crowd is drawn, the distribution of accuracy among members of the population, and the firm’s ability to recruit the population’s most accurate individuals. The results show that: (1) under relatively common conditions, increasing the size of the crowd may actually reduce performance; (2) near-optimal performance can usually be achieved by a much smaller crowd than the one required to achieve optimal performance; (3) determining the best crowd size depends critically on the firm’s ability to recruit “accurate” individuals; and (4) good performance does not require large crowds unless all population members exhibit low levels of accuracy.

1 – 10 of over 78000