Theory and Research in Strategic Management

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  Manajemen Strategik Theory and Research in Strategic _{http://www.methodbrain.com/dsia/about-dsia.cfm} Management http://www.bbc.co.uk/blogs/ni/bookprog.jpg _{http://www.inkcinct.com.au/web-pages/cartoons/past/2012/2012-308--economic-theory-and-practice.jpg}

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

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  Manajemen Strategik Theoretical and Methodological Evolution in Strategic Management

  Fayol (1949) proposed the Strategy and Chandler’s (1962)

  Structure-conduct- major

  Structure performance framework managerial .

  Corporate Strategy , Ansoff’s (1965)

  Porter (1980, 1985) actions as

  Learned Business et al.’s (1965/1969) Strategic groups planning,

  Policy : Text and Cases nt (1972) organizing,

  Hu Administrative

  Herbert Simon’s (1945) coordinating,

  Competitive dynamics Behaviors commanding,

  Be ttis and Hitt (1995) Cyert and March’s (1963) and

  A Behavioral Theory of the Firm controlling.

  The Nature of Managerial Work , Henry Mintzberg (1973) classified

  A Resource-based View of the Transaction costs economics ten managerial

  Firm Williamson’s (1975, 1985) roles into three

  Wernerfelt’s (1984) “A categories: Agency theory Strategic leadership and strategic interpersonal,

  Jensen & Meckling, 1976; informational, decision theory

  Fama & Jensen, 1983 and decisional . Finkelstein & Hambrick, 1996

  Knowledge-based view of the firm Cohen and Levinthal (1990)

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Future Directions

  From an IO economics perspective , mobility barriers or market positions that lead to are the critical sources of competitive advantages superior performance.

  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 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

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Research Areas in Strategic Management

  Howard Thomas University of Illinois at Urbana-Champain

Anshen and Guth

  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

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• Strategic

  Strategic Road Map

  Road Map http://www.a4r4.com/consulting

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What is Vision? How to achieve a vision?

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

  A Vertical Road Map

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  A Strategic Alignment Model for New Product Development Source: Hei-Kuang Lee and Chih-Ming Liu

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  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

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  Manajemen Strategik Strategic performance Internal-external fit: the task of strategic performance efficiency

Operational performance is basically measured in terms of , i.e.

input is, accordingly, basically

  Strategic performance –output relations. effectiveness

concerned with and thus measured by issues of , i.e. output-goal

relations.

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

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

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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 evaluated qualitatively

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  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, learning and revising the strategic plan.

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Good strategic performance creates a high degree of internal-

external fit by establishing coherence between efficient

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

company performance.

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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

realised in action pragmatically true

these expectations are , then the statement is .

  

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 the strategic setting gap have done is .

  

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

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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

  

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 .

  

A strategic balance sheet

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Using

  Balanced Scorecard as

   Robert S. Kaplan and David N. Norton (2007) Harvard Business Review a Strategic Management System ^{http://www.piloter.org/executive-dashboard/images/balanced-scorecard-3.jpg}

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  Translating Vision and Strategy: Four Perspectives

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  Managing Strategy: Four Process

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  Manajemen Strategik How One Company Bulit a Strategic Management System

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  Manajemen Strategik How One Company Bulit a Strategic Management System

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  Personnal Scorecard