Reputation

Organizational Reputation can have multiple definitions. In a recent article, Lange et al. (2011) reviewed the management literature discussing reputation. In their review, they categorize definitions of reputation into three general ideas: Being Known Being well-known, broad awareness of the firm irrespective of judgment Disagreements on prominence distinction Being Known for Something Includes an assessment …

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Social Capital

Social Capital is defined as the goodwill available to individuals or groups. As depicted in the figure above, the source of social capital lies in the structure and content of a actor's social relations. The most appropriate theory to examine social capital is Social Network Theory because of its focus on relationships. Adler and Kwon 2002 …

Spinoffs and Spawning

This stream of research looks at how organizations, or more specifically the people working in those organizations, create spinoffs.  Some of the questions in this stream include: What types of employees are likely to start a spinoff. What types of firms are more or less likely to generate spinoffs What effect does generating a spinoff …

Financial Markets

Just in case it needs explanation, financial markets are the markets where people trade financial securities. This is an interesting area for research since it has such a big impact on publicly traded organizations. There are several research questions and ideas that can be examined in this setting (and many fields comment on them including …

Exploration and Exploitation

Exploration and Exploitation is related to Firm Knowledge and learning. This perspective deals with the decision a firm makes to either seek new knowledge or to use current knowledge.  It is related to learning in that this decision represents the presence or absence of learning. This perspective came about with March (1991) where he points …

Firm Knowledge and Learning

Previous posts discussed how the Resource-Based View of the Firm (RBV) and Dynamic Capabilities were two theories that emerged from strategic management. A third theory is the Knowledge-Based View. This theory consists of viewing knowledge as the most important resource of the firm. Naturally, this theory is based on RBV as initially described by Penrose (1959) and expanded by Wernerfelt (1984) and …

Top Management

Just as Corporate Governance is concerned with the characteristics of Boards of Directors,  Top Management research is concerned with the characteristics of top managers. In their 1984 paper, Hambrick and Mason lay the foundations of top management research, or what they call Upper Echelons Theory. This theory explores how the strategies and effectiveness of firms …

Corporate Governance

Corporate governance revolves around understanding the control and ownership of organizations. This has been discussed in the Managerial and Agency Theory posts. As discussed before, the separation of ownership and control of the firm gave rise to difficulties monitoring managers (Berle and Means 1932).  In the modern corporation, the owner is not a single individual, …

Strategic Choice and Change

It is well established that organizations must adapt and change in order to survive. There are many different ways to think about what drives strategic change. Change can come about due to scarcity, status anxiety, small emergent and continuous processes, and based on the structural holes of your network. Given the large number of reasons …

Contemporary Topics in Strategic Management

This course focused on a series of topics that are relevant to strategic management. As mentioned before, strategic management is about the decisions an organization must make, based on the interaction between the environment and the firm's resources, in order to gain or maintain competitive advantage. When thinking about general topics to research in the …