Theory and Research in Strategic Management

Manajemen Strategik

http://www.topuniversities.com/sites/qs.topuni/files/MManagement%20careers%20-%20Strategic%20management.jpg

Theory and Research

in Strategic

Management

Hoskisson, R.E., M.A. Hitt, W. P. Wan, D. Yiu. 1999. Journal of Management, Vol. 25, No. 3, 417–456

http://www.methodbrain.com/dsia/about-dsia.cfm

Theoretical and Methodological Evolution in Strategic

Management

Chandler’s (1962) Strategy and Structure

Ansoff’s (1965) Corporate Strategy,

Learned et al.’s (1965/1969) Business Policy: Text and Cases

Herbert Simon’s (1945) Administrative Behaviors

Cyert and March’s (1963)

A Behavioral Theory of the Firm

Structure-conduct-performance framework. Porter (1980, 1985)

Strategic groups

Hunt (1972)

Competitive dynamics

Bettis and Hitt (1995)

Transaction costs economics Williamson’s (1975, 1985) Agency theory

Jensen & Meckling, 1976; Fama & Jensen, 1983

A Resource-based View of the Firm

Wernerfelt’s(1984) “A

Strategic leadership and strategic decision theory

Finkelstein & Hambrick, 1996 Fayol (1949)

roles into three categories:

interpersonal, informational, and decisional.

Rapid change in technology and

the rise of the information age

means that the nature and pace of firm competition are likely to

be different

From an IO economics perspective,

mobility barriers or market positions

are the critical sources of competitive advantages

that lead to superior performance.

Parallel to the rapid technological change is

the increased level of

globalization

.

a new approach to understanding top management motivation and actions is

stewardship theory

Dess et al. (1995) called for more

integrating research across two or

more levels of strategy

.

The field of strategic management will

likely experience increasing integration of

Research Areas in

Strategic Management

Howard Thomas

University of Illinois at Urbana-Champain

Science and Art in Policy Formulation

Design and Test of Analytical Concepts and Operational Approach

Historical Relationships and Implementation Problems

Interface of Business Policy

Formulation with Social Problems and Other Institutions

Strategic Road Map

•

Strategic

Road Map

http://www.a4r4.com/consulting

http://todaysinnovativewoman.com/wp-content/uploads/2014/03/Einstein-Quote.jpg http://careersuccess.typepad.com/.a/6a0105360968fe970b0168e513cc34970c-pi

What is Vision?

How to achieve a vision?

http://futureofcio.blogspot.com/2013/07/corporate-big-five-from-oxymoron-to.html

Segev (2006): Mysticism and Strategic Management, Chapter 1: A Road Map to the World of Strategic Management

Organizational performance

is the core of strategic management

The environment in which the organization operates is one of the major determinants of

its functioning.

From the ecological perspective, the natural selection mechanism is responsible for the rise, success,

and fall of organizations (NeoDarwinism)

Others view it as stylistic, political or cultural

A Strategic Alignment Model for New Product

Development

Measuring Strategic Performance

http://www.clintburdett.com/process/04_team/team_05_measures.htm#.VA3b7aOVCZQ

http://manageta.com/steps-objectives-performance-measures/

http://en.wikipedia.org/wiki/File:Blind_monks_examining_an_elephant.jpg

Mitchell dkk (2013). Scoring Strategic Performance: a pragmatic constructivist approach to strategic performance measurement. Journal of Management & Governance. 17:5–34

Operational performance

is basically measured in terms of efficiency, i.e. input–output relations.

Strategic performance

is, accordingly, basically concerned with and thus measured by issues of effectiveness, i.e. output-goal relations.

Internal-external fit: the task of strategic performance

Pragmatic constructivism as basis for strategic performance

The necessary and sufficient condition for an action to be successful is that these four dimensions in the actor-world relation are integrated in the actor’s perspective:

facts, possibility, value and communication

.

Strategic performance

Coherence

Coherency does not mean that the facts, possibilities and values of the interacting parties must be identical but that they must complement each other.

Coherency in cross-cultural interaction does not mean having the same factual basis, the same possibilities and logic and the same values.

It means that they

Strategic performance measurement

The aim of strategic performance measurement is

to create instruments that within

a short period of

time

,

can indicate the long-term effects

of strategic

performance.

We can only measure historical and real-time

performance issues, but not future issues.

The preparations, planning and other endeavours

to cope with the future

can be estimated and

1. Strategic planning narrative

The strategic profile may be the

silent result

of an

emerging intuitive strategic performance, or it may be the

result of an intended and

formulated strategic

performance according to a plan (Mintzberg)

To organise the strategic process consciously, leaders have to

formulate a narrative of the strategy for their staff to know what

to do and what to expect.

Strategy in this case involves (1) formulating a

strategic plan, (2) implementing and monitoring the

achievement of the strategic plan, and (3) reflecting,

2. Tracing changes in strategic coherence

Good strategic performance creates a high degree of

internal-external fit by

establishing coherence between efficient

operating units

.

Managerial strategic performance measurement reflects the

changes in the strategic situation, i.e. the changes in the strategic

coherence that take place over a certain period of time.

Strategic measurement therefore needs indicators that can be

used to directly express changes in coherency and therefore

anticipate long term effects on total company performance

.

Such monitoring of coherency changes can be used

to adjust the

strategic behaviour

and thereby improve the oncoming total

3. Pro-active truth and learning theory of truth

Analysis and reality checking of the intended strategy can result in measurement statements that are pro-actively true. These statements create a set of expectations. If

these expectations are realised in action, then the statement is pragmatically true.

Pragmatic truth can only be judged ex-post as success or failure becomes apparent. The difference between pro-active truth and pragmatic truth—if there is any—is termed the truth gap. The truth gap between what we expected to do and what we

did includes two dimensions, strategy setting and strategy execution.

The deviation between what we should have done and what we did is the strategic

execution gap. The deviation between what we expected to do and what we should

have done is the strategic setting gap.

The truth gap is to be kept small and insignificant. If it is large,

information which is only pro-actively true is misleading to the users.

Truth gap monitoring

becomes a basis for a continuous learning and

Measurements and decision-making systems normally presuppose

stable and well-defined conditions. Strategically, however,

the systems

are essentially subject to change and not stable

.

If operational problems in a unit are caused or influenced by the output

it receives from a previous unit or by the demand it meets from a

subsequent unit, then these problems must be registered in the

integration scorecard as a

coherence problem

.

Scorecard

analyses

the degree of coherence

between units in the

performance chain.

The platform contains a top-level integration scorecard that reflects the

change in the strategic profile of the company, i.e.

changes in the

internal-external fit

.

For each of the links between internal units an integration scorecard is

constructed to reflect the

changes in coherence between the units

.

Using

Balanced Scorecard

as

Robert S. Kaplan and David N. Norton (2007) Harvard Business Review

a Strategic

Management System

How One Company Bulit

How One Company Bulit