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Strategic Management Theory (strategic + management_theory)
Selected AbstractsTrends and Directions in the Development of a Strategic Management Theory of the Family FirmENTREPRENEURSHIP THEORY AND PRACTICE, Issue 5 2005James J. Chrisman This article provides a review of important trends in the strategic management approach to studying family firms: convergence in definitions, accumulating evidence that family involvement may affect performance, and the emergence of agency theory and the resource-based view of the firm as the leading theoretical perspectives. We conclude by discussing directions for future research and other promising approaches to inform the inquiry concerning family business. [source] Toward a Theoretical Basis for Understanding the Dynamics of Strategic Performance in Family FirmsENTREPRENEURSHIP THEORY AND PRACTICE, Issue 6 2008James J. Chrisman An important distinction between family and nonfamily firms and among different types of family firms is the manner in which strategy is formulated and implemented. These differences in strategic behaviors can cause variations in firm performance. Understanding the nature of these differences and how the family form of organization drives them therefore contributes to the development of a strategic management theory of the family firm, a unifying theme of the series of special issues published in Entrepreneurship Theory and Practice to date. This article briefly reflects on the progress made in understanding the strategic differences of family firms in this ongoing series and discusses the contributions of the articles and commentaries contained in this fifth special issue on theories of family enterprise. [source] HR strategy and competitive advantage in the service sectorHUMAN RESOURCE MANAGEMENT JOURNAL, Issue 3 2003Peter Boxall While taking its cue from studies of high-performance work systems in manufacturing, this article examines theory and research on the potential for HR advantage in the service sector, building directly on recent studies of market segmentation and HR strategy in the sector. The article uses these studies, along with strategic management theory, to put forward a new typology of market characteristics, competitive dynamics and HR strategy in services. Three broad types of competition, ranging from mass market to knowledge-intensive services, are identified. This framework helps the article to explore the issue of whether competitive differentiation through human resources is possible only in high-skill areas such as professional services. It argues that opportunities for HR advantage are broader; they exist where quality and/or knowledge are important in competitive strategy. However, seeing the opportunity is not the same as achieving the result. Service firms that identify and pursue these opportunities face the problems of building and maintaining barriers to imitation, and of managing the ,politics of appropriation'. [source] Strategic planning: valuing and managing portfolios of real optionsR & D MANAGEMENT, Issue 4 2006Han T. J. Smit This article presents a value-based strategic planning framework suitable for valuing and managing portfolios of corporate real options. The proposed framework combines insights from strategic management theory with novel quantitative valuation tools from finance. Strategic planning is viewed as a process of actively developing and managing portfolios of corporate real options in the context of competitive interactions. As such, the expanded valuation framework recognizes that future growth opportunity value deriving from the firm's resources and capabilities must explicitly account for uncertainty, adaptability, and competitive responsiveness. The resulting expanded valuation framework is able to capture the value of the adaptive resources and capabilities that enable a firm to adapt and re-deploy assets, develop and exploit synergies, and gain competitive advantage via time-to-market and first- or second-mover advantages. We show how two basic metrics in this value-based framework, current profitability of assets in place and future growth option value, can be obtained from financial market data and how they can be used in active portfolio planning. [source] | ||||||||||