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Strategic Decisions (strategic + decision)
Terms modified by Strategic Decisions Selected AbstractsSTRATEGIC DECISIONS ON LAWYERS' COMPENSATION IN CIVIL DISPUTESECONOMIC INQUIRY, Issue 4 2007KYUNG HWAN BAIK We study a model of civil dispute with delegation in which a plaintiff's lawyer works on a contingent-fee basis but a defendant's lawyer on an hourly fee basis. We first derive the condition under which delegation to the lawyers brings both litigants more payoffs compared with the case of no delegation. We then show that under this profitable delegation condition, the contingent-fee fraction for the plaintiff's lawyer is about one-third. Next, allowing the plaintiff to choose between the two fees, we show that under the profitable delegation condition, the plaintiff chooses the contingent fee, given that the defendant adopts the hourly fee. (JEL K41, K13, D74, D72) [source] Factors Associated with Creative Strategic DecisionsCREATIVITY AND INNOVATION MANAGEMENT, Issue 3 2008Cameron M. Ford The study and practice of business strategy is fundamentally based on employing creative solutions to differentiate a firm from its competitors. Theories used to describe the causes and consequences of strategic differentiation tend to focus on organization-level characteristics such as resources, capabilities and structures. However, less is known about day-to-day processes and practices whereby strategic managers develop create solutions necessary to establish strategic differentiation. This paper presents a preliminary field study of factors suggested by previous strategy process and micro-strategy research that may lead to, and result from, creative strategic decisions. Findings produced by a longitudinal field study of 52 strategic decisions reveal that creative strategic choices arise in response to managers' perceptions of uncertainty and competition. The findings also suggest that creativity may improve the ultimate effectiveness of strategic choices by 5,10 per cent. [source] Strategic Decisions of New Technology Adoption under Asymmetric Information: A Game-Theoretic Model*DECISION SCIENCES, Issue 4 2003Kevin Zhu ABSTRACT In this paper we explore strategic decision making in new technology adoption by using economic analysis. We show how asymmetric information affects firms' decisions to adopt the technology. We do so in a two-stage game-theoretic model where the first-stage investment results in the acquisition of a new technology that, in the second stage, may give the firm a competitive advantage in the product market. We compare two information structures under which two competing firms have asymmetric information about the future performance (i.e., postadoption costs) of the new technology. We find that equilibrium strategies under asymmetric information are quite different from those under symmetric information. Information asymmetry leads to different incentives and strategic behaviors in the technology adoption game. In contrast to conventional wisdom, our model shows that market uncertainty may actually induce firms to act more aggressively under certain conditions. We also show that having better information is not always a good thing. These results illustrate a key departure from established decision theory. [source] The on-demand virtual advisory team: A new consulting paradigm?GLOBAL BUSINESS AND ORGANIZATIONAL EXCELLENCE, Issue 2 2007Rob Steir In a Virtual Advisory Program, an executive handpicks a team of outside experts for unbiased input on a strategic decision facing the business. The lowcost service offers rapid, just-in-time access to people who have "been there, done that," and lets the executive see them in action before embarking on a business relationship or full-time hire. With the assistance of a talent integrator/moderator, the CEO of a high-growth company tapped a VAP team with the right industry and functional experience to help him evaluate the pros and cons of entering a new market, and, in the process, overcame his aversion to using consultants. © 2007 Wiley Periodicals, Inc. [source] The role of quantitative and qualitative research in industrial studies of tourismINTERNATIONAL JOURNAL OF TOURISM RESEARCH, Issue 2 2003Brian Davies Abstract Many areas of research in tourism concentrate on quantitative or qualitative studies. Some even discuss the complementarity between the two types of studies. Hardly considered are the possibilities for combining such works within an integrated framework that also considers the business environment in which tourism operates. The purpose of this paper is to return to long neglected possibilities by reinvestigating areas of methodology and epistemology concerned with the generation of a framework that embraces both quantitative and qualitative research. A hypothetical example, in terms of industrial organisation and strategic decision making, is introduced discussing the possibilities for the triangulation of methods and paradigms and the role of the business environment. The conclusion is that an improved understanding of the tourism business requires a broader research methodology than presently exists. Both types of research and the dynamic context of tourism are important and need to be combined within an integrated framework. It has been concerned with the construction of integrating frameworks that embrace an alternative logic of inference and the context of the tourism business environment. This requires refinements of existing approaches together with a broader research methodology. Only by establishing such frameworks will an improved understanding of the tourism industry be achieved. The suggested framework presented here, with particular reference to industrial organisation and strategic decision making by tourism suppliers, is not offered as a panacea. For future work, the validity and choice of framework rest squarely on how the world and ,truth' are viewed. However, within this, the contribution of triangulated quantitative and qualitative research should help understanding by studying phenomena in their natural setting and in terms of the meanings people have of them. This should lead to a ,truer analysis' of business behaviour and hence a more purposeful investigation of hotels, tour operators, travel agents and the business of tourism in general. It is in seeking to produce this ,truer analysis' that future research activities need to concentrate. Copyright © 2003 John Wiley & Sons, Ltd. [source] Strategic Decision Mking, Discourse, And Strategy As Social PracticeJOURNAL OF MANAGEMENT STUDIES, Issue 7 2000John Hendry In this paper we argue that the existing conceptualizations of strategic decision making, while each affording valuable insights, offer only partial and disconnected perspectives of the strategy process that leave important questions un-addressed. To overcome this problem we develop an empirically grounded conceptualization of strategic decisions as elements of a strategic discourse, operating at both the structural level of social reproduction and the instrumental level of intentional communication, and constituting the medium through which choices are discussed and recorded, interpretations developed and expressed, and strategic actions initiated, authorized and acknowledged. This conceptualization opens up a number of research questions concerning the role of strategic decision making in the overall strategy process and leads to a fruitful conceptualization of strategy itself as a technological and appropriative social practice. [source] The institutional environment in the strategic decision of the emerging companies: the case of the Algerian sugar industryJOURNAL OF MULTI CRITERIA DECISION ANALYSIS, Issue 5-6 2009Mohamed Akli Achabou Abstract During these last years, Algeria, like some other developing countries, is undergoing important institutional changes. The structural adjustment plan (1990s) and the association agreement signed with the European Union (2005) are some of the political tools that guide these profound changes that have considerable impacts on the strategic behaviour of local enterprises. Beyond these mutations at national level, important policy changes are observed at the international level, like the recent reform of the European sugar policy that constitutes a considerable shifter on the behaviour of enterprises operating in the Algerian sugar refining industry. The present research aims to measure the weight of the institutional criteria on the strategic decision of sugar refining companies in Algeria, by the combination of the Strengths, Weaknesses, Opportunities, and Threats analysis and the analytical hierarchy process. The ultimate purpose is to contribute to the analysis of interactions that exist between institutional changes induced by the globalization process and the strategic choices of local enterprises in an emergent economy. Copyright © 2010 John Wiley & Sons, Ltd. [source] Comparing Competing Theories on the Causes of Mandate PerceptionsAMERICAN JOURNAL OF POLITICAL SCIENCE, Issue 2 2005Lawrence J. Grossback The discussion of presidential mandates is as certain as a presidential election itself. Journalists inevitably discuss whether the president-elect has a popular mandate. Because they see elections as too complex to allow the public to send a unitary signal, political scientists are more skeptical of mandates. Mandates, however, have received new attention by scholars asking whether perceptions of mandate arise and lead representatives to act as if voters sent a policy directive. Two explanations have emerged to account for why elected officials might react to such perceptions. One focuses on the president's strategic decision to declare a mandate, the second on how members of Congress read signals of changing preferences in the electorate from their own election results. We test these competing views to see which more accurately explains how members of Congress act in support of a perceived mandate. The results indicate that members respond more to messages about changing preferences than to the president's mandate declaration. [source] Advocates, Critics and Union Involvement in Workplace Partnership: Irish AirportsBRITISH JOURNAL OF INDUSTRIAL RELATIONS, Issue 4 2002William K. Roche The Irish Airports Authority and its unions have developed a radical partnership initiative which seeks to involve staff and unions in operational and strategic decision,making. The initiative allows for an empirical assessment of arguments regarding the effects of partnership on union organization and strength, and on members' commitment to unions. Drawing on research conducted over a four,year period, we argue that partnership was of considerable benefit to workers and unions, but that new tensions and challenges have arisen. On balance, the evidence provides modest support for the theoretical arguments of advocates of partnership. [source] Factors Associated with Creative Strategic DecisionsCREATIVITY AND INNOVATION MANAGEMENT, Issue 3 2008Cameron M. Ford The study and practice of business strategy is fundamentally based on employing creative solutions to differentiate a firm from its competitors. Theories used to describe the causes and consequences of strategic differentiation tend to focus on organization-level characteristics such as resources, capabilities and structures. However, less is known about day-to-day processes and practices whereby strategic managers develop create solutions necessary to establish strategic differentiation. This paper presents a preliminary field study of factors suggested by previous strategy process and micro-strategy research that may lead to, and result from, creative strategic decisions. Findings produced by a longitudinal field study of 52 strategic decisions reveal that creative strategic choices arise in response to managers' perceptions of uncertainty and competition. The findings also suggest that creativity may improve the ultimate effectiveness of strategic choices by 5,10 per cent. [source] Supporting long-term workforce planning with a dynamic aging chain model: A case study from the service industryHUMAN RESOURCE MANAGEMENT, Issue 5 2010Andreas Größler Abstract This study demonstrates how a dynamic, aging chain model can support strategic decisions in workforce planning. More specifically, we used a system dynamics model (a modeling and simulation technique originating from supply chain management) to improve the recruiting and training process in a large German service provider in the wider field of logistics. The key findings are that the aging chain of service operators within the company is affected by a variety of delays in, for example, recruiting, training, and promoting employees, and that the structure of the planning process generates cyclic phases of workforce surplus and shortage. The discussion is based on an in-depth case study conducted in the service industry in 2008. Implications are that planning processes must be fine-tuned to account for delays in the aging chain. The dynamic model provides a tool to gain insight into the problem and to improve the actual human resource planning process. The value of the paper lies in the idea of applying a well-known and quantitative method from supply chain management to a human resource management issue. © 2010 Wiley Periodicals, Inc. [source] A review of outsourcing from the resource-based view of the firmINTERNATIONAL JOURNAL OF MANAGEMENT REVIEWS, Issue 1 2006Tomás F. Espino-Rodríguez The phenomenon of outsourcing is becoming increasingly widespread among organizations and is now one of the strategic decisions that attract the greatest interest from professionals and organizational scholars. The primary purpose of the paper is to contribute with a review of the principal works that address outsourcing from the resource-based view of the firm (RBV). The paper begins by setting out the main premises of outsourcing and then presents the different concepts of outsourcing and proposes a concept that is more in line with the theoretical framework used. This is followed by an analysis of the principal differences and similarities of the treatments of outsourcing from the traditional perspective of the transaction costs economics theory (TCE) and from the more strategic and up-to-date RBV. The next section contains a review of the most significant theoretical and empirical works on outsourcing that address outsourcing from the RBV. The contributions are classified into two categories, depending on the objectives: works that study the propensity to outsource and works that study the relationship between the outsourcing decision and organizational performance. Finally, a framework is proposed that is based on the resource and capability view with the aim of contributing to a better understanding of outsourcing and facilitating future empirical works from the RBV that are complementary and examine issues of greater interest that have been less developed in the literature to date. [source] How company and managerial characteristics influence strategic alliance adoption in the travel sectorINTERNATIONAL JOURNAL OF TOURISM RESEARCH, Issue 4 2007Jaloni Pansiri Abstract The purpose of this paper is to examine the role of company and executive characteristics in strategic alliance formation in the tourism sector of travel. A survey of Australian travel sector businesses was carried out and the results indicate a high level of interaction through alliances between various sectors of the Australian tourism industry. Top managers' characteristics (experience, ownership and risk-taking attitude) were found to be influential in taking strategic decisions of whether to form alliances or not. These characteristics do not play an important role in determining the number of alliances an organisation has and their geographical location, as much as company characteristics do. The findings of this paper imply that company characteristics are important in determining alliance formation. Managers should thoroughly consider these characteristics when deciding not only to form alliances, but also the types of alliances that could help their organisations to be more competitive, given limited resources. Copyright © 2007 John Wiley & Sons, Ltd. [source] STRATEGY AND SHAREHOLDER VALUE CREATION: THE REAL OPTIONS FRONTIERJOURNAL OF APPLIED CORPORATE FINANCE, Issue 2 2000Martha Amram The current interest in real options reflects the dramatic increase in the uncertainty of the business environment. Viewed narrowly, the real options approach is the extension of financial option pricing models to the valuation of options on real (that is, nonfinancial) assets. More broadly, the real options approach is a way of thinking that helps managers formulate their strategic options,the future opportunities that are created by today's investments,while considering their likely effect on shareholder value. But if the real options framework promises to link strategy more closely to shareholder value creation, there are some major challenges on the frontier of application. In the first part of this paper, the authors tackle the question, "What is really new about real options, and how does the approach differ from other wellestablished ways to make strategic decisions under uncertainty?" This article provides a specific definition of real options that relies on the ability to track marketpriced risk. Using examples from oil exploration and pharmaceutical drug development, the authors also show how specific features of the industry and the application itself determine the usefulness of the real options approach. The second part of the paper addresses the question: Given the many differences between real and financial options, how should a real options application be framed? The authors examine the use of real options in the valuation of Internet companies to demonstrate the required judgment and tradeoffs in the framing of real options applications. The case of Webvan, an online grocer, is used to illustrate the inter-action between strategy, execution, and valuation. [source] An empirical investigation of Wal-Mart's expansion into food retailingAGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 2 2010Alessandro Bonanno After revolutionizing the concept of mass merchandising with its Discount Stores, Wal-Mart has entered food retailing with its Supercenters, and has become the largest food retailer in the United States. Despite its relevance, little empirical research has focused on explaining the company's entry and expansion into food retailing. Wal-Mart's expansion into food retailing through its store conversion strategy is analyzed using an industrial organization entry framework. The results show that Wal-Mart's store conversion strategy has targeted largely populated areas with low population density, a high percentage of population receiving food stamps, and where the presence of incumbents is modest. The results also provide evidence that as the company moves toward saturation of local markets and increases store conversion rates, it may be forced to reconsider some of its strategic decisions based on the exploitation of economies of density and store conversion. © 2010 Wiley Periodicals, Inc. [source] Conservation goals and fisheries management units for Atlantic salmon in the Baltic Sea areaJOURNAL OF FISH BIOLOGY, Issue 2001M-L. Koljonen The effective application of genetic information in fisheries management strategies implies political goal setting taking both conservation and fisheries management into account. The concept of sustainable use as set out by the Convention on Biological Diversity offers a valuable starting point in this respect, since the criterion for it is defined as the maintenance of genetic diversity within each species. However, strategic decisions are also needed on the practical level, where the actual genetic information can be taken into account. Genetic factors, such as glacial differentiation, the postglacial genetic structure of populations, gene flow levels and the probability of the existence of adaptive differences, have an effect on the formation of conservation and management units and on the long-term strategy for the sustainable use of aspecies. The Atlantic salmon (Salmo salar) in the Baltic Sea area is treated here as an example of a complicated management problem with a highly hierarchical genetic structure associated with marked loss of naturally reproductive stocks, extensive hatchery production and an effective international offshore fishery. The implications of genetic factors for the conservation and management strategy of the Baltic salmon is discussed in the light of the goals set by the Convention on Biological Diversity, the Straddling Fish Stocks and Highly Migratory Fish Stocks Agreement, the Habitats Directive of the European Union and the International Baltic Sea Fishery Commission. [source] A Property Rights Perspective on Venture Capital Investment DecisionsJOURNAL OF MANAGEMENT STUDIES, Issue 7 2010Dimo Dimov abstract To understand how ownership differences influence specific types of strategic decisions, we examine the investment decisions of venture capital (VC) firms, for which a variety of property rights arrangements exist. We describe how VC firms are characterized by important differences in how and to whom various property rights are allocated. On this basis, we develop a series of hypotheses regarding differences in the range and types of investment opportunities pursued by private, corporate, and bank affiliated VC firms. Evaluating our hypotheses using data on investments carried out by 3557 firms, we find that these types of firm perform distinct roles in the ecology of VC financing. [source] Exploring the Political Side of Board Involvement in Strategy: A Study of Mixed-Ownership Institutions*JOURNAL OF MANAGEMENT STUDIES, Issue 8 2006Davide Ravasi abstract This article reports on a comparative study of strategic decision-making and board functioning in nine firms. Findings indicate that the heterogeneity of interests represented on the board, members' possession of relevant knowledge, and the presence of ex-ante conflict resolution mechanisms combine in shaping if and how board members engage in strategy-related activities and how strategic decisions are taken. Findings extend current understandings about the strategic functions of the board (monitoring, advice, and resource-dependence), suggesting how, under certain conditions, boards may act as negotiation forums where directors search for a reconciliation between diverging shareholders' interests and views. [source] Strategic Decision Mking, Discourse, And Strategy As Social PracticeJOURNAL OF MANAGEMENT STUDIES, Issue 7 2000John Hendry In this paper we argue that the existing conceptualizations of strategic decision making, while each affording valuable insights, offer only partial and disconnected perspectives of the strategy process that leave important questions un-addressed. To overcome this problem we develop an empirically grounded conceptualization of strategic decisions as elements of a strategic discourse, operating at both the structural level of social reproduction and the instrumental level of intentional communication, and constituting the medium through which choices are discussed and recorded, interpretations developed and expressed, and strategic actions initiated, authorized and acknowledged. This conceptualization opens up a number of research questions concerning the role of strategic decision making in the overall strategy process and leads to a fruitful conceptualization of strategy itself as a technological and appropriative social practice. [source] Combining scenario planning and multi-criteria decision analysis in practiceJOURNAL OF MULTI CRITERIA DECISION ANALYSIS, Issue 1-3 2006Gilberto Montibeller Abstract The integrated use of scenario planning and multi-criteria decision analysis (MCDA) has been advocated as a powerful combination for providing decision support in strategic decisions. Scenario planning helps decision makers in devising strategies and thinking about possible future scenarios; while MCDA can support an in-depth performance evaluation of each strategy, as well as in the design of more robust and better options. One of the frameworks proposed recently, by Goodwin & Wright, suggests the use of scenario planning with multi-attribute value theory, a mathematically simple, yet extensively researched and widely employed multi-criteria method. However, so far, such framework has been presented only using hypothetical problems. In this paper, we describe two case studies where this approach was used to support real-world strategic decisions. We discuss the challenges and limitations we encountered in applying it and suggest some possible improvements that could be made to such framework. Copyright © 2007 John Wiley & Sons, Ltd. [source] Supply Management Strategies for the Future: A Delphi StudyJOURNAL OF SUPPLY CHAIN MANAGEMENT, Issue 3 2005Jeffrey A. Ogden Summary As supply management becomes more involved in strategic decisions, an understanding of the various strategies that it can employ is crucial. This research uses a multiround Delphi study of key procurement and supply management executives to better understand which procurement and supply management strategies may lead to significant improvements over the next 5,10 years. The results indicate that strategies such as increased integration, information sharing and collaboration among supply chain members are most likely to be implemented and will have the largest impact on organizations. However, this integration will not include joint investment or asset sharing, will be limited to one tier in the supply chain, and will not heavily involve e-markets and electronic auctions. [source] The informational content of the shape of utility functions: financial strategic behaviorMANAGERIAL AND DECISION ECONOMICS, Issue 2 2009Joost M.E. Pennings Recently, Pennings and Smidts (2003) showed a relationship between organizational behavior and the global shape of the utility function. Their results suggest that the shape of the utility function may be related to ,higher-order' decisions. This research examines the relationship between financial strategic decisions and the global shape of the utility function of real decision makers. We assess the shape of utility functions of portfolio managers and show that the global shape is related to their strategic asset allocation. The findings demonstrate the informational content of the shape of utility functions in the context of financial strategic behavior. Copyright © 2008 John Wiley & Sons, Ltd. [source] | |||||||||||||||||||||||||