Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0006
Melissa E. Graebner
Qualitative research has played an influential role in strategic management since the inception of the field. Qualitative data are open-ended, vivid, rich, and nuanced, fostering a more sophisticated and ecologically valid understanding of organizational strategies and strategy making. Qualitative methodologies are diverse and include multicase theory building; process analysis; strategy-as-practice; narrative, discursive, and rhetorical approaches; and deductive and illustrative case studies. Despite contributing to scholarship on critical topics such as alliances, mergers and acquisitions, responses to technological change, corporate governance, managerial cognition, and strategy in entrepreneurial ventures, qualitative research faces hurdles in the publication process. Nonetheless, qualitative approaches will be essential for the future of strategy scholarship and offer opportunities to better understand the intersection of strategic management and broader societal concerns such as coping with crises and achieving greater equity and inclusion in organizations.
{"title":"Evolution of Qualitative Research Methods in Strategic Management","authors":"Melissa E. Graebner","doi":"10.1093/oso/9780190090883.003.0006","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0006","url":null,"abstract":"Qualitative research has played an influential role in strategic management since the inception of the field. Qualitative data are open-ended, vivid, rich, and nuanced, fostering a more sophisticated and ecologically valid understanding of organizational strategies and strategy making. Qualitative methodologies are diverse and include multicase theory building; process analysis; strategy-as-practice; narrative, discursive, and rhetorical approaches; and deductive and illustrative case studies. Despite contributing to scholarship on critical topics such as alliances, mergers and acquisitions, responses to technological change, corporate governance, managerial cognition, and strategy in entrepreneurial ventures, qualitative research faces hurdles in the publication process. Nonetheless, qualitative approaches will be essential for the future of strategy scholarship and offer opportunities to better understand the intersection of strategic management and broader societal concerns such as coping with crises and achieving greater equity and inclusion in organizations.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82467430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0012
Nathan R. Furr
Technology entrepreneurship—and, by extension, technology strategy—is the study of how firms use technology to create and capture value. While this area draws on multiple domains, including literatures describing the evolution of technology, firms, and industries, few dedicated efforts have been made to integrate these domains to describe technology strategy, even though many of the most powerful firms today are not those with industry or resource positions but those with technology positions. This chapter unpacks the theoretical and empirical foundations of technology entrepreneurship as it relates to strategy, summarizes current research, and highlights important unanswered questions, foremost of which is the role of uncertainty in theories of strategy. This chapter also asks two important questions: Given the growing centrality of technology in almost every area of economic life, is a technology strategy view needed? Also, given the rise of uncertainty, is a theory of uncertainty also necessary?
{"title":"Technology Entrepreneurship, Technology Strategy, and Uncertainty","authors":"Nathan R. Furr","doi":"10.1093/oso/9780190090883.003.0012","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0012","url":null,"abstract":"Technology entrepreneurship—and, by extension, technology strategy—is the study of how firms use technology to create and capture value. While this area draws on multiple domains, including literatures describing the evolution of technology, firms, and industries, few dedicated efforts have been made to integrate these domains to describe technology strategy, even though many of the most powerful firms today are not those with industry or resource positions but those with technology positions. This chapter unpacks the theoretical and empirical foundations of technology entrepreneurship as it relates to strategy, summarizes current research, and highlights important unanswered questions, foremost of which is the role of uncertainty in theories of strategy. This chapter also asks two important questions: Given the growing centrality of technology in almost every area of economic life, is a technology strategy view needed? Also, given the rise of uncertainty, is a theory of uncertainty also necessary?","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89161588","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0003
H. Greve
The organizational view of strategic management views strategic decisions as outcomes of organizational goals and environmental influences. Central research streams are institutional theory and network theory on environmental influences, and learning theory and resource dependence theory on organizational interaction with the environment. Currently active research topics are centered on how societal groups influence organizations, intraorganizational individuals and groups pursue their own goals, and organizations pursue their goals by choosing strategic actions that maneuver societal constraints. Research is beginning to crystallize a view of environments and organizational structures interacting closely with strategy, with organizations learning to shape their interorganizational networks and surrounding institutions to their benefit. Comparison of performance and aspiration levels on multiple goals helps organizations time and direct strategic changes. The organizational view is a prominent part of strategic management and has enough unanswered questions to spur significant future research.
{"title":"The Organizational View of Strategic Management","authors":"H. Greve","doi":"10.1093/oso/9780190090883.003.0003","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0003","url":null,"abstract":"The organizational view of strategic management views strategic decisions as outcomes of organizational goals and environmental influences. Central research streams are institutional theory and network theory on environmental influences, and learning theory and resource dependence theory on organizational interaction with the environment. Currently active research topics are centered on how societal groups influence organizations, intraorganizational individuals and groups pursue their own goals, and organizations pursue their goals by choosing strategic actions that maneuver societal constraints. Research is beginning to crystallize a view of environments and organizational structures interacting closely with strategy, with organizations learning to shape their interorganizational networks and surrounding institutions to their benefit. Comparison of performance and aspiration levels on multiple goals helps organizations time and direct strategic changes. The organizational view is a prominent part of strategic management and has enough unanswered questions to spur significant future research.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76515403","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0033
David G. Sirmon
Scholars often simplify the treatment of capability development and utilization by focusing on individual-, process-, or structural-level factors independently. However, by following a microfoundation perspective to the treatment of capabilities this chapter endeavors to consider these levels collectively. In doing so, the chapter connects well-known managerial processes, such as resource orchestration, with novel yet increasing salient factors of agentic technologies (which act as another individual-level factor that constrains, complements, or substitutes for human agency) and identity-based community (which acts as another structural-level factor that conditionally provides the firm resources to promote its ideology-centric utility function). The integration of these three factors within the microfoundation literature promotes the investigation of research questions relevant to contemporary organizations. The chapter contextualizes potential questions in each section, including separate treatments of each factor as well as their collective consideration.
{"title":"Extending the Microfoundations of Capability Development and Utilization: The Role of Agentic Technology and Identity-Based Community","authors":"David G. Sirmon","doi":"10.1093/oso/9780190090883.003.0033","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0033","url":null,"abstract":"Scholars often simplify the treatment of capability development and utilization by focusing on individual-, process-, or structural-level factors independently. However, by following a microfoundation perspective to the treatment of capabilities this chapter endeavors to consider these levels collectively. In doing so, the chapter connects well-known managerial processes, such as resource orchestration, with novel yet increasing salient factors of agentic technologies (which act as another individual-level factor that constrains, complements, or substitutes for human agency) and identity-based community (which acts as another structural-level factor that conditionally provides the firm resources to promote its ideology-centric utility function). The integration of these three factors within the microfoundation literature promotes the investigation of research questions relevant to contemporary organizations. The chapter contextualizes potential questions in each section, including separate treatments of each factor as well as their collective consideration.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78323682","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0027
M. Howard
Strategic management research provides a strong foundation to explain how new knowledge is developed and shared within and between organizations. Through this effort, management scholars have offered valuable insights in areas such as absorptive capacity, knowledge recombination, and the emergence of innovation networks and ecosystems. This chapter proposes exploring the evolution of this work and the prospects for future research by examining three important themes: the socially constructed nature of knowledge, the ever increasing trend toward knowledge complexity, and the emergence of machine learning as a vital tool for technological innovation. This field has a tremendous opportunity to adapt and improve our theories by reconsidering the traditional roles and boundaries of organizations, while employing new methods of analysis that are better suited to this changing landscape. Strategic management scholars may then play an important role in highlighting the path for social benefit through the creation and sharing of knowledge.
{"title":"Management of Innovation and Knowledge Sharing","authors":"M. Howard","doi":"10.1093/oso/9780190090883.003.0027","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0027","url":null,"abstract":"Strategic management research provides a strong foundation to explain how new knowledge is developed and shared within and between organizations. Through this effort, management scholars have offered valuable insights in areas such as absorptive capacity, knowledge recombination, and the emergence of innovation networks and ecosystems. This chapter proposes exploring the evolution of this work and the prospects for future research by examining three important themes: the socially constructed nature of knowledge, the ever increasing trend toward knowledge complexity, and the emergence of machine learning as a vital tool for technological innovation. This field has a tremendous opportunity to adapt and improve our theories by reconsidering the traditional roles and boundaries of organizations, while employing new methods of analysis that are better suited to this changing landscape. Strategic management scholars may then play an important role in highlighting the path for social benefit through the creation and sharing of knowledge.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77735938","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0037
J. Barney, Alison Mackey
This chapter considers how core strategic management theories (resource-based theory, positioning theory and the theory of the firm) could be impacted by incorporating stakeholder considerations. Resource-based theory would need to adopt a model of profit appropriation in which stakeholders in addition to shareholders would have residual claims on a firm’s profits. Positioning theory’s traditional focus on threats would broaden to a focus on stakeholder-generated opportunities for profit generation. And stakeholder logic brings into question the importance of a theory of the firm for strategic management theory. These ideas (and others) are explored in this chapter as well as the implications for strategic management topics such as corporate diversification, mergers and acquisitions, and corporate governance. Last, the chapter briefly considers some broader implications for other fields of scholarship that use and apply strategic management theories to develop applications and explain phenomena of interest in their own respective fields.
{"title":"What Would the Field of Strategic Management Look Like if it Took the Stakeholder Perspective Seriously?","authors":"J. Barney, Alison Mackey","doi":"10.1093/oso/9780190090883.003.0037","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0037","url":null,"abstract":"This chapter considers how core strategic management theories (resource-based theory, positioning theory and the theory of the firm) could be impacted by incorporating stakeholder considerations. Resource-based theory would need to adopt a model of profit appropriation in which stakeholders in addition to shareholders would have residual claims on a firm’s profits. Positioning theory’s traditional focus on threats would broaden to a focus on stakeholder-generated opportunities for profit generation. And stakeholder logic brings into question the importance of a theory of the firm for strategic management theory. These ideas (and others) are explored in this chapter as well as the implications for strategic management topics such as corporate diversification, mergers and acquisitions, and corporate governance. Last, the chapter briefly considers some broader implications for other fields of scholarship that use and apply strategic management theories to develop applications and explain phenomena of interest in their own respective fields.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77325259","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0031
N. Foss
Microfoundations have been one of the key themes in strategy research over the last decade or so. Fundamentally, microfoundations seek to understand collective (e.g., firm)-level constructs in terms of the actions and interactions of individuals. This chapter briefly discusses the nature of microfoundations, provides an exposition of the microfoundational currents in contemporary strategy thinking, and discusses the key challenges that need to be addressed to advance microfoundational research. Chief among these challenges are the development and application of proper empirical methods and developing models of decision-making that are particularly relevant in a strategy context. The latter task involves going beyond expected utility or bounded rationality models and developing models that can address genuine (“deep”) uncertainty.
{"title":"Microfoundations in Strategy: Content, Current Status, and Future Prospects","authors":"N. Foss","doi":"10.1093/oso/9780190090883.003.0031","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0031","url":null,"abstract":"Microfoundations have been one of the key themes in strategy research over the last decade or so. Fundamentally, microfoundations seek to understand collective (e.g., firm)-level constructs in terms of the actions and interactions of individuals. This chapter briefly discusses the nature of microfoundations, provides an exposition of the microfoundational currents in contemporary strategy thinking, and discusses the key challenges that need to be addressed to advance microfoundational research. Chief among these challenges are the development and application of proper empirical methods and developing models of decision-making that are particularly relevant in a strategy context. The latter task involves going beyond expected utility or bounded rationality models and developing models that can address genuine (“deep”) uncertainty.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86685418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0024
Brian L. Connelly
Shareholders have, in recent years, imposed considerable influence on firms and the managers that run them. Their role has become so prevalent that hedge funds, activist investors, and short sellers dominate the headlines of the popular business press. Academics are desperately trying to keep up with the furious pace of change and incorporate emerging phenomena into theories of corporate governance. To facilitate this process, this chapter reviews the key forms of corporate ownership and describes ways in which they affect firm-level outcomes. The chapter identifies five issues about which ownership scholars disagree: the competitive influence of common shareholding, the costs and benefits of excess control, the consequences of share repurchases, the threat of short sellers, and the value-creating prospects of shareholder-nominated directors. The chapter describes the state of each debate with the hope that strategy scholars, in the years ahead, will add nuance to what we know about these pressing matters.
{"title":"Ownership and Governance","authors":"Brian L. Connelly","doi":"10.1093/oso/9780190090883.003.0024","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0024","url":null,"abstract":"Shareholders have, in recent years, imposed considerable influence on firms and the managers that run them. Their role has become so prevalent that hedge funds, activist investors, and short sellers dominate the headlines of the popular business press. Academics are desperately trying to keep up with the furious pace of change and incorporate emerging phenomena into theories of corporate governance. To facilitate this process, this chapter reviews the key forms of corporate ownership and describes ways in which they affect firm-level outcomes. The chapter identifies five issues about which ownership scholars disagree: the competitive influence of common shareholding, the costs and benefits of excess control, the consequences of share repurchases, the threat of short sellers, and the value-creating prospects of shareholder-nominated directors. The chapter describes the state of each debate with the hope that strategy scholars, in the years ahead, will add nuance to what we know about these pressing matters.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89665379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-19DOI: 10.1093/oso/9780190090883.003.0036
Michael L. Barnett, I. Henriques, B. Husted
The planet and our society are on unsustainable footing. Many firms do more harm than good in helping to bring about environmental, social, and economic sustainability. This chapter offers guidance on how firms can make the urgently needed strategic shift to sustainability. The chapter begins by defining sustainability strategy and reviewing the literature on this topic. Much of the current literature views sustainability strategy as a plan to sustain and increase firm performance, subject to constraints imposed by the natural environment. However, to help bring about sustainability, firms must treat their environments not as something to be strategically buffered from, but as parts of a vulnerable system that they have an active and critical role in sustaining. We outline four sustainability strategies—calculative, cooperative, concerned, and co-creative—and suggest future research directions to aid firms in shifting from firm-centric solutions toward strategies that sustain the vulnerable social-ecological system.
{"title":"Sustainability Strategy","authors":"Michael L. Barnett, I. Henriques, B. Husted","doi":"10.1093/oso/9780190090883.003.0036","DOIUrl":"https://doi.org/10.1093/oso/9780190090883.003.0036","url":null,"abstract":"The planet and our society are on unsustainable footing. Many firms do more harm than good in helping to bring about environmental, social, and economic sustainability. This chapter offers guidance on how firms can make the urgently needed strategic shift to sustainability. The chapter begins by defining sustainability strategy and reviewing the literature on this topic. Much of the current literature views sustainability strategy as a plan to sustain and increase firm performance, subject to constraints imposed by the natural environment. However, to help bring about sustainability, firms must treat their environments not as something to be strategically buffered from, but as parts of a vulnerable system that they have an active and critical role in sustaining. We outline four sustainability strategies—calculative, cooperative, concerned, and co-creative—and suggest future research directions to aid firms in shifting from firm-centric solutions toward strategies that sustain the vulnerable social-ecological system.","PeriodicalId":43778,"journal":{"name":"Strategic Management","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2021-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78440731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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