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Top Management Team (top + management_team)
Selected AbstractsTop Management Teams in Family-Controlled Companies: ,Familiness', ,Faultlines', and Their Impact on Financial PerformanceJOURNAL OF MANAGEMENT STUDIES, Issue 2 2010Alessandro Minichilli abstract This article examines the affect of family management on performance of the company. We examine how familiness can provide further insights beyond the classical demographic measures of top management teams (TMTs) in explaining variations in firms' financial performance. We combine arguments on the ,bright' and ,dark' side of family involvement in the firm; we complement positive predictions on family involvement with negative predictions and develop family firm-specific measures of TMTs' familiness. Results indicate that while the presence of a family CEO is beneficial for firm performance, the coexistence of ,factions' in family and non-family managers within the TMT has the potential to create schisms among the subgroups and consequently hurt firm performance. We find support for a hypothesized U-shaped relationship between the ratio of family members in the TMT and firm performance. Additional evidence related to interactions between firm listing and CEO type on firm performance is then presented and discussed. [source] The Influence of Top Management Teams in the Strategic Orientation and Performance of Small and Medium-sized EnterprisesBRITISH JOURNAL OF MANAGEMENT, Issue 4 2009Alejandro Escribá-Esteve Identifying which factors affect firms' performance is a critical issue in strategic management research. This paper addresses the influence of managerial team over the behaviour and performance of small and medium-sized enterprises (SMEs). By treating top management team (TMT) characteristics as predictors of a firm's strategic orientation, we seek to provide a more complete understanding of how the characteristics of managerial teams shape decision-making processes and SMEs' behaviours in order to successfully compete in low munificent environments. Based on primary data regarding managerial characteristics and firms' behaviours of a sample of 295 SMEs, our results confirm that a firm's strategic orientation plays a mediating role in explaining how TMT characteristics determine SMEs' performance. [source] Top Management Teams, Business Models, and Performance of Biotechnology Ventures: An Upper Echelon Perspective,BRITISH JOURNAL OF MANAGEMENT, Issue 3 2008Holger Patzelt In this paper we introduce a new contingency variable that moderates the effect of top management team composition on organizational performance , the organization's business model. Arguing from an upper echelon perspective and drawing on data from 99 German biotechnology ventures, we show that founder-based firm-specific experience of management team members can have either a positive or a negative effect on performance, depending on whether the venture pursues a platform or a therapeutics business model, respectively. Our results also show that managers' experience collected in the pharmaceutical industry has a positive effect on performance, and that this effect is more positive for therapeutics than for platform ventures. We discuss the implications of these findings for the literature on upper echelons and entrepreneurial founding teams. [source] Economic Liberalization and the Antecedents of Top Management Teams: Evidence From Turkish ,Big' BusinessBRITISH JOURNAL OF MANAGEMENT, Issue 3 2006Sibel Yamak There has been an increased interest in the last two decades in top management teams (TMTs) of business firms. Much of the research, however, has been US-based and concerned primarily with TMT effects on organizational outcomes. The present study aims to expand this literature by examining the antecedents of top team composition in the context of macro-level economic change in a late-industrializing country. The post-1980 trade and market reforms in Turkey provided the empirical setting. Drawing upon the literatures on TMT and chief executive characteristics together with punctuated equilibrium models of change and institutional theory, the article develops the argument that which firm-level factors affect which attributes of TMT formations varies across the early and late stages of economic liberalization. Results of the empirical investigation of 71 of the largest industrial firms in Turkey broadly supported the hypotheses derived from this premise. In the early stages of economic liberalization the average age and average organizational tenure of TMTs were related to the export orientation of firms, whereas in later stages, firm performance became a major predictor of these team attributes. Educational background characteristics of teams appeared to be under stronger institutional pressures, altering in different ways in the face of macro-level change. [source] Examining the Antecedents and Consequences of CIO Strategic Decision-Making Authority: An Empirical Study,DECISION SCIENCES, Issue 4 2008David S. Preston ABSTRACT Despite the strategic importance of information technology (IT) to contemporary firms, chief information officers (CIO) often still have varying degrees of strategic decision-making authority. In this study, we apply the theory of managerial discretion to define CIO strategic decision-making authority and argue that the CIO's level of strategic decision-making authority directly influences IT's contribution to organization performance. We also draw on the power and politics perspective in the strategic decision-making literature to identify the direct antecedents to the CIO's strategic decision-making authority. A theoretical model is presented and empirically tested using survey data collected from a cross-industry sample of 174 matched pairs of CIOs and top business executives through structural equation modeling. The results suggest that organizational climate, organizational support for IT, the CIO's structural power, the CIO's level of strategic effectiveness, and a strong partnership between the CIO and top management team directly influence the CIO's level of strategic decision-making authority within the organization. The results also suggest that the CIO's strategic decision-making authority in the organization directly influences the contribution of IT to firm performance and that effective CIOs have a greater influence on IT's contribution when provided with strategic decision-making authority. [source] Strategic Practices: An Activity Theory Perspective on Continuity and ChangeJOURNAL OF MANAGEMENT STUDIES, Issue 1 2003Paula Jarzabkowski abstract This paper draws upon activity theory to analyse an empirical investigation of the micro practices of strategy in three UK universities. Activity theory provides a framework of four interactive components from which strategy emerges; the collective structures of the organization, the primary actors, in this research conceptualized as the top management team (TMT), the practical activities in which they interact and the strategic practices through which interaction is conducted. Using this framework, the paper focuses specifically on the formal strategic practices involved in direction setting, resource allocation, and monitoring and control. These strategic practices are associated with continuity of strategic activity in one case study but are involved in the reinterpretation and change of strategic activity in the other two cases. We model this finding into activity theory-based typologies of the cases that illustrate the way that practices either distribute shared interpretations or mediate between contested interpretations of strategic activity. The typologies explain the relationships between strategic practices and continuity and change of strategy as practice. The paper concludes by linking activity theory to wider change literatures to illustrate its potential as an integrative methodological framework for examining the subjective and emergent processes through which strategic activity is constructed. [source] Competitive repertoire simplicity and firm performance: The moderating role of top management team heterogeneityMANAGERIAL AND DECISION ECONOMICS, Issue 6-7 2004Walter J. Ferrier We extend Miller and Chen's (Strategic Manage J 1996; 17: 419,439) recent research on the impact of competitive repertoire simplicity on firm performance by exploring the extent to which top management team (TMT) demographic heterogeneity moderates this relationship. These authors found that competitive repertoire simplicity among firms in the airline industry was negatively related to firm performance. By contrast, our findings from a multi-industry study suggest that strategic repertoire simplicity is positively related to performance for firms led by heterogeneous TMTs, and negatively related for less heterogeneous TMTs. Accordingly, this finding advances theory within competitive dynamics and strategic leadership. Copyright © 2004 John Wiley & Sons, Ltd. [source] The Influence of Top Management Teams in the Strategic Orientation and Performance of Small and Medium-sized EnterprisesBRITISH JOURNAL OF MANAGEMENT, Issue 4 2009Alejandro Escribá-Esteve Identifying which factors affect firms' performance is a critical issue in strategic management research. This paper addresses the influence of managerial team over the behaviour and performance of small and medium-sized enterprises (SMEs). By treating top management team (TMT) characteristics as predictors of a firm's strategic orientation, we seek to provide a more complete understanding of how the characteristics of managerial teams shape decision-making processes and SMEs' behaviours in order to successfully compete in low munificent environments. Based on primary data regarding managerial characteristics and firms' behaviours of a sample of 295 SMEs, our results confirm that a firm's strategic orientation plays a mediating role in explaining how TMT characteristics determine SMEs' performance. [source] Top Management Team Heterogeneity, Strategic Change and Operational Performance,BRITISH JOURNAL OF MANAGEMENT, Issue 3 2008David Naranjo-Gil This study examines the role of top management team (TMT) heterogeneity in facilitating strategic change. Based on the upper echelons literature, we argue that heterogeneous management teams are better able to handle the simultaneous and conflicting demands of refocusing the organization strategically and keeping up operational performance. We expect this to be true only for teams that are heterogeneous with respect to factors directly related to job requirements, however. Data were collected from 92 full TMTs of hospitals in Spain that were confronted with institutional pressures that challenged their current strategies. In support of our hypotheses, the results show job-related TMT heterogeneity moderates the relation between strategic change and operational performance. No moderating effect is found for non-job-related TMT heterogeneity. [source] Top Team Diversity, Internationalization and the Mediating Effect of International Alliances,BRITISH JOURNAL OF MANAGEMENT, Issue 3 2006Ho-Uk Lee This study examines the mediating effect of international alliances for the relationship between TMT (top management team) job-related diversity (educational, functional background, outside industry experience and international exposure) and firm internationalization. We argue that firms with greater TMT diversity will use more international alliances, resulting in higher firm internationalization. Based on a sample of 226 US firms during the period 1988,1994, we find that international alliances partially mediate the relationship between TMT international exposure diversity and firm internationalization. However, we do not find international alliances to mediate the relationships between other forms of TMT diversity and firm internationalization. We discuss implications and directions for future research. [source] The Influence of Top Management Team Heterogeneity on the Capital Raised through an Initial Public OfferingENTREPRENEURSHIP THEORY AND PRACTICE, Issue 3 2008Monica A. Zimmerman A significant body of research exists on the top management teams (TMTs) of established firms and specifically on the heterogeneity of TMTs of established firms. Little research exists, however, on the heterogeneity of TMTs of firms in the early stages of their existence. In this study, I examine the relationship among TMT heterogeneity and the capital raised by the firm through its initial public offering (IPO). I argue that TMT heterogeneity provides a signal to potential investors about the quality of the IPO and hence is associated with greater capital accumulations. My findings suggest that heterogeneity in the TMT's functional background and educational background is associated with greater capital raised through an IPO. [source] Modelling the Joint Impact of the CEO and the TMT on Organizational AmbidexterityJOURNAL OF MANAGEMENT STUDIES, Issue 7 2010Qing Cao abstract While researchers continue to debate how firms might attain ambidexterity, recent research demonstrates that top management teams (TMTs) play a pivotal role. We enrich this line of inquiry by specifying a model that blends the effect of the CEO and the TMT on ambidexterity. Specifically, given the importance of networking and building social capital to the access of timely, valuable, and diverse information, we first envision that the CEO's network extensiveness will positively impact ambidexterity. Next, we argue that this impact will be bolstered when the CEO,TMT interactional interface, including communication richness, functional complementarity, and power decentralization, enable the entire TMT to process disparate information demands essential to attaining ambidexterity. We test and find general support for our model using multi-source survey data from 122 small- to medium-sized enterprises (SMEs). [source] Top Management Teams in Family-Controlled Companies: ,Familiness', ,Faultlines', and Their Impact on Financial PerformanceJOURNAL OF MANAGEMENT STUDIES, Issue 2 2010Alessandro Minichilli abstract This article examines the affect of family management on performance of the company. We examine how familiness can provide further insights beyond the classical demographic measures of top management teams (TMTs) in explaining variations in firms' financial performance. We combine arguments on the ,bright' and ,dark' side of family involvement in the firm; we complement positive predictions on family involvement with negative predictions and develop family firm-specific measures of TMTs' familiness. Results indicate that while the presence of a family CEO is beneficial for firm performance, the coexistence of ,factions' in family and non-family managers within the TMT has the potential to create schisms among the subgroups and consequently hurt firm performance. We find support for a hypothesized U-shaped relationship between the ratio of family members in the TMT and firm performance. Additional evidence related to interactions between firm listing and CEO type on firm performance is then presented and discussed. [source] Economic Liberalization and the Antecedents of Top Management Teams: Evidence From Turkish ,Big' BusinessBRITISH JOURNAL OF MANAGEMENT, Issue 3 2006Sibel Yamak There has been an increased interest in the last two decades in top management teams (TMTs) of business firms. Much of the research, however, has been US-based and concerned primarily with TMT effects on organizational outcomes. The present study aims to expand this literature by examining the antecedents of top team composition in the context of macro-level economic change in a late-industrializing country. The post-1980 trade and market reforms in Turkey provided the empirical setting. Drawing upon the literatures on TMT and chief executive characteristics together with punctuated equilibrium models of change and institutional theory, the article develops the argument that which firm-level factors affect which attributes of TMT formations varies across the early and late stages of economic liberalization. Results of the empirical investigation of 71 of the largest industrial firms in Turkey broadly supported the hypotheses derived from this premise. In the early stages of economic liberalization the average age and average organizational tenure of TMTs were related to the export orientation of firms, whereas in later stages, firm performance became a major predictor of these team attributes. Educational background characteristics of teams appeared to be under stronger institutional pressures, altering in different ways in the face of macro-level change. [source] | ||||||||||