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Aligning strategic processes in pursuit of firm growth

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  • Titus Jr., Varkey K.
  • Covin, Jeffrey G.
  • Slevin, Dennis P.
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    Abstract

    Strategy formation mode refers to the way organizations devise their strategies. While some organizations do so through an explicit, formalized, and planned method, other organizations unintentionally create patterns in their strategic decisions--a strategy formation route that is more emergent in nature. This research explores the relationship between strategy formation mode and firm growth. Further, this article explores two strategic processes--forecasting and long-range objective setting--and their efficacy in association with particular strategy formation modes. Primary and secondary data collected from 103 manufacturing firms were used to test the hypotheses. Results indicate that the relationship between strategy formation mode and firm growth is curvilinear (inverted-U shape). Further, a three-way interactive effect is found between strategy formation mode, forecasting, and long-range objective setting on firm growth.

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    File URL: http://www.sciencedirect.com/science/article/B6V7S-4YRXKGK-1/2/7279a28258be93d85426bc9e9251429d
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Research.

    Volume (Year): 64 (2011)
    Issue (Month): 5 (May)
    Pages: 446-453

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    Handle: RePEc:eee:jbrese:v:64:y:2011:i:5:p:446-453

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    Web page: http://www.elsevier.com/locate/jbusres

    Related research

    Keywords: Strategy formation Growth Forecasting Objective setting;

    References

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    1. Greenley, Gordon E., 1994. "Strategic planning and company performance: An appraisal of the empirical evidence," Scandinavian Journal of Management, Elsevier, vol. 10(4), pages 383-396, December.
    2. Harris, Lloyd C. & Ogbonna, Emmanuel, 2006. "Initiating strategic planning," Journal of Business Research, Elsevier, vol. 59(1), pages 100-111, January.
    3. Noble, Charles H., 1999. "The Eclectic Roots of Strategy Implementation Research," Journal of Business Research, Elsevier, vol. 45(2), pages 119-134, June.
    4. Tuominen, Matti & Rajala, Arto & Moller, Kristian, 2004. "How does adaptability drive firm innovativeness?," Journal of Business Research, Elsevier, vol. 57(5), pages 495-506, May.
    5. Dreyer, Bent & Gronhaug, Kjell, 2004. "Uncertainty, flexibility, and sustained competitive advantage," Journal of Business Research, Elsevier, vol. 57(5), pages 484-494, May.
    6. Rudd, John M. & Greenley, Gordon E. & Beatson, Amanda T. & Lings, Ian N., 2008. "Strategic planning and performance: Extending the debate," Journal of Business Research, Elsevier, vol. 61(2), pages 99-108, February.
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