Journal of Strategy and Management最新文献

Purpose

Recent research has highlighted limited explicit knowledge of a company’s strategy on the part of its employees. The concept of Open Strategy has emerged as a promising approach to address and enhance knowledge and understanding of an organization’s strategy across all hierarchical levels. However, empirical investigations of the relationship between the degree of openness in a strategy process and employees’ strategy knowledge remain scarce. This study aims to fill this gap.

Design/methodology/approach

We conducted an online survey of individuals from various organizations, measuring the degree of openness of their strategy process and using regression analysis to determine the impact on strategy knowledge among the respondents. We operationalized strategy knowledge using two concepts. The first concept encompassed general knowledge of the employer’s strategy, mission, and vision. The second concept measured strategy knowledge in a more concrete manner by assessing factors such as the company’s markets, how it positions itself and its economic logic.

Findings

Our findings indicate that regardless of the level of hierarchy, the degree of openness has a strong positive effect on strategy knowledge. However, this effect is smaller when specific aspects of strategy knowledge are assessed compared to a general understanding of strategy. Our results highlight the potential of Open Strategy as an effective approach to enhancing employees’ knowledge of the employer’s strategy.

Originality/value

Our research demonstrates that the degree of openness in strategy processes significantly enhances strategy knowledge, thereby laying the groundwork for effective strategy implementation. The results highlight the importance of cultivating a culture of transparency, participation and inclusion of employees as well as ongoing communication to effectively integrate strategy into organizational practices. We offer practical implications for managers striving to optimize their strategic management processes.

Purpose

This article examines the strategic actions of multinational corporations (MNCs) in creating social value at the base of the pyramid (BoP), providing insights into novel business models (BMs) and tactics employed for poverty alleviation.

Design/methodology/approach

This conceptual article links three relevant pieces of literature – creating shared value (CSV), the three-value creation logic and the three core values of social development – to analyze the current research and real-world examples of MNCs implementing the BoP BMs.

Findings

The article identifies four strategies and 11 tactics used by MNCs to adapt BMs elements (value proposition, value constellation and value capture) and generate social value at the different levels (coverture of basic needs, self-esteem and freedom from servitude) by following the distinct value creation logics (chain, shop and network).

Originality/value

This article provides a conceptual framework that links relevant literature and sheds light on the strategic actions that MNCs apply in their BMs to tackle the multidimensionality of poverty in the BoP markets.

Purpose

Conventional wisdom says stakeholders matter to managers as they develop strategy – but do they? If so, what type of stakeholders matter and what can managers do?

Design/methodology/approach

An in-depth exploration of five deep case studies where senior executives embarked upon strategy development. Analysis revealed five significant factors for managing stakeholders effectively.

Findings

These findings include: determining the nature of a stakeholder, separating those who care about the strategy and its implementation from those who do not but still could impact it; addressing stakeholders at an appropriate level; considering internal as well as external stakeholders and attending to the stakeholders’ responses to proposed strategies and the consequent dynamics created.

Research limitations/implications

(1) The research was conducted with senior managers, and the authors detail the difficulties involved in doing so within the introduction and (2) The research was specific to the healthcare sector, but has relevance to all strategy makers.

Practical implications

This paper explores five factors and their implications and suggests techniques to address them that are well established and available to promote the effective strategic management of stakeholders.

Originality/value

Empirical research in strategy formation with elites is rare because it is difficult to gain access and trust. Empirical research in stakeholder studies is even rarer. By combining the two elements, the authors gather and interpret a unique dataset.

Purpose

The study aims to investigate the integration of human and machine intelligence in Industry 4.0 (I4.0), particularly in the convergence of industrial revolutions 4.0 (IR4.0) and 5.0. It seeks to identify employee competencies aligned with industry 5.0 (I5.0) and propose a framework for deep multi-level cooperation to improve human integration within the intelligence system.

Design/methodology/approach

This study uses bibliometric analysis to review 296 research papers retrieved from the Scopus database between 2002 and 2022. The prominence of the research is evaluated by analyzing the publication trend, sample statistics, theoretical foundation, commonly used keywords, thematic evolution, country-based contributions and top-cited documents.

Findings

The study observed that research in I5.0 has been limited in the past but has gained momentum since 2015. An analysis of research papers from 2002 to 2022 reveals a gradual shift toward human-centric practices. The literature on I4.0, the internet of things (IoT), artificial intelligence (AI), cloud manufacturing, blockchain and big data analysis has been increasingly highlighting the growing importance of digitalization in the future. An increase in the number of countries contributing to the field of study has also been observed.

Originality/value

This analysis offers valuable insights for managers, policymakers, information technology (IT) developers and stakeholders in understanding and implementing human-centric practices in I5.0. It emphasizes staying current with trends, embracing workforce empowerment through reskilling and upskilling, and prioritizing data privacy and security in adaptable systems. These strategies contribute to developing effective, inclusive and ethically sound approaches aligned with the principles of I5.0.

Purpose

This study focuses on the key success factors (KSFs) for strategy implementation in the fisheries industry in Iceland identified by chief executive officers within the industry. The purpose is to provide a comprehensive categorization of KSFs that influence how strategy is mobilized. The secondary aim is to uncover the level of priority that companies place on the dimensions of the United Nations (UN) Sustainable Development Goals (SDGs).

Design/methodology/approach

The methodology involves qualitative case studies based on in-depth elite interviews with nine chief executive officers of Icelandic fishing companies.

Findings

The research indicates strategy implementation can be improved in four main areas. First, by engaging and involving all employees in the implementation process. Second, by enhancing bottom-up innovation and communication. Third, through alignment of the corporate strategy and the UN SDGs, and fourth, by following rigorous action plans with clear, measurable and prioritized objectives and timeframes for the managers to follow. These improvements have both theoretical and practical implications for the fishing industry. Consequently, a conceptual framework for integrated strategy implementation in the fisheries industry is proposed.

Research limitations/implications

A limited number of in-depth elite interviews were conducted since access to the chief executive officers of the country’s largest fishing companies proved challenging. However, the nine companies collectively hold nearly 50% of the country’s total quota, thereby proving a deep understanding of the topic relevant to the industry. The research uncovered a substantial cross-section of viewpoints, and as such, the results are relevant for both academia and practitioners alike.

Originality/value

This study contributes to the debate on KSFs relevant to strategy implementation within a specific industry but also aligns with the UN SDGs by proposing a dedicated framework for implementing strategies in the fisheries industry. Overall, this study can help managers achieve strategy implementation.

Purpose

Adopting digital transformation is changing the methods through which companies' function, generating novel possibilities and difficulties that force firms to adjust to remain competitive in the digital era. It is critical for firms to embrace this change and utilize technology to develop a more flexible, proactive and effective approach as digital transformation continues to advance at an accelerating pace. Vietnam has been placed at the forefront of these changes in attracting investments and becoming a hub of international trade. As a result, Vietnamese firms have been implementing restructuring and adopting digital transformation to remain competitive with the flow of foreign investment. This paper aims to examine the effects of digital transformation on corporate restructuring in Vietnam. The authors then investigate the moderating role of corporate governance in the digital transformation – corporate restructuring nexus.

Design/methodology/approach

The authors employ content analysis to extract information from the annual reports of 747 Vietnamese listed companies, where the authors focus on specific phrases, such as “digitalization”, “big data”, “cloud computing”, “blockchain” and “information technology” over a period of 11 years, from 2011 to 2021. The frequency count of these keywords is calculated to represent the level of digital transformation for the Vietnamese listed firms. A final sample of 118 Vietnamese listed firms with sufficient data is selected for the analysis using the generalized method of moments (GMM) approach.

Findings

The results indicate that digital transformation and corporate governance negatively impact corporate restructuring when their effect on corporate restructuring is examined independently. However, corporate governance strengthens the effect of digital transformation on corporate restructuring.

Originality/value

This paper is one of the first to investigate the moderating role of corporate governance on the effect of digital transformation on corporate restructuring in Vietnam. The findings inspire listed firms in Vietnam to implement digital transformation during their corporate restructuring to enhance performance.

Purpose

The purpose of this study is to address why managers enter the excessive market. A comparison of the facts and perceptions of entrants relative to success in the market shows that many entrants are confident about the viability of their businesses and enter the market. Accordingly, the authors simulate market entry decisions to detect behavioral biases.

Design/methodology/approach

The authors adapted the entry decisions simulation method, which is supported by the theoretical foundations of signal detection theory (SDT) and signaling theory. The simulation model is implemented on the Anaconda platform and written in Python 3.

Findings

The results of this study suggest that overestimation relates to excess market entry. Also, the proportion of excess entry under difficult conditions is always higher than under easy conditions.

Practical implications

This research helps managers and firms think about their and their competitors' abilities and evaluate them before entering the market. Policymakers and practitioners can also design programs such as experiential learning to help entrants assess their skills.

Originality/value

So far, no research has investigated the role of overconfidence under different market conditions. Accordingly, this study contributes to the current market entry literature by disentangling the debate between absolute and relative confidence and by considering the role of task difficulty.

Purpose

This paper aims to investigate the impact of sustainable board governance, based on (1) sustainability board committees, (2) critical mass of female board members and (3) sustainability-related executive compensation, on sustainable supply chain reporting (SSCR).

Design/methodology/approach

Based on stakeholder and critical mass theories, a sample of 1,577 firm-year observations for firms listed at the EuroSTOXX600 for the period 2017–2021 is used. Sustainable board governance and SSCR proxies are collected from the Refinitiv database. Correlation and logit regression analyses are conducted to measure the impact of sustainable board governance on SSCR.

Findings

Sustainable board governance significantly improves SSCR. The findings are robust to various robustness checks, based on the modification of dependent and independent variables.

Research limitations/implications

Due to massive regulations on sustainability reporting, finance and corporate governance, firms listed on the EuroSTOXX 600 are focused in this analysis. The European capital market represents a unique setting for archival research.

Practical implications

European standard setters should connect the relationship between sustainable board governance and SSCR in future regulations, for example, due to the recent corporate sustainability reporting directive (CSRD) and corporate sustainability due diligence directive (CSDDD).

Originality/value

To the best of the author’s knowledge, this paper provides the first analysis on the impact of sustainable board governance on SSCR.