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Strategic Choice as a Negotiated Outcome

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  • Edwin A. Murray, Jr.

    (Northwestern University)

Abstract

With increasing pressures for public accountability by private enterprise, the zone of strategic discretion for top level corporate managers is being reduced. Preliminary evidence from recent field research in a major electric utility showed that corporate plans of major strategic significance were not only "formulated" (within the company) but "negotiated" (implicitly if not explicitly) with external parties. To the extent that this phenomenon characterizes policy formation in corporations generally, conventional concepts of corporate strategy formulation as a "rational comprehensive" process are not descriptively accurate and perhaps not even as prescriptively useful as they might be.

Suggested Citation

  • Edwin A. Murray, Jr., 1978. "Strategic Choice as a Negotiated Outcome," Management Science, INFORMS, vol. 24(9), pages 960-972, May.
    • Handle: RePEc:inm:ormnsc:v:24:y:1978:i:9:p:960-972
    DOI: 10.1287/mnsc.24.9.960
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    Cited by:

    1. Mark A. Covaleski & Mark W. Dirsmith & Clinton E. White, 1987. "Economie consequences: The relationship between financial reporting and strategic planning, management and operating control decisions," Contemporary Accounting Research, John Wiley & Sons, vol. 3(2), pages 408-429, March.
    2. Der-Fang Hung, 2015. "Sustained Competitive Advantage and Organizational Inertia: The Cost Perspective of Knowledge Management," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 6(4), pages 769-789, December.

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