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Organizational Beliefs and Managerial Vision

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  • Van den Steen, Eric

Abstract

This paper studies, in a world with differing priors, the role of organizational beliefs and managerial vision in the behavior and performance of corporations. The paper defines vision operationally as a very strong belief by the manager about the right course of action for the firm. The interaction between employees' beliefs and the manager's vision influences decisions and determines employees' motivation and satisfaction. Through sorting in the labor market, the manager's vision also shapes organizational beliefs. Under weak conditions, a company's board should select a manager with stronger beliefs than its own, although spurious effects may make vision often look better than it really is. The analysis shows that beliefs play an important role that goes beyond their information content. It also has implications for theories of corporate culture and business strateg

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File URL: http://hdl.handle.net/1721.1/1845
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Bibliographic Info

Paper provided by Massachusetts Institute of Technology (MIT), Sloan School of Management in its series Working papers with number 4224-01.

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Date of creation: 28 Mar 2003
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Handle: RePEc:mit:sloanp:1845

Contact details of provider:
Postal: MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), SLOAN SCHOOL OF MANAGEMENT, 50 MEMORIAL DRIVE CAMBRIDGE MASSACHUSETTS 02142 USA
Phone: 617-253-2659
Web page: http://mitsloan.mit.edu/
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Postal: MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), SLOAN SCHOOL OF MANAGEMENT, 50 MEMORIAL DRIVE CAMBRIDGE MASSACHUSETTS 02142 USA

Related research

Keywords: vision; organizational beliefs; culture; heterogeneous priors; differing priors;

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