Strategic Renewal (Corporate Entrepreneurship)

Top PDF Strategic Renewal (Corporate Entrepreneurship):

The Influence of Top Management Team’s Corporate Governance Orientation on Strategic Renewal Trajectories

The Influence of Top Management Team’s Corporate Governance Orientation on Strategic Renewal Trajectories

Abstract Using the upper echelons perspective together with corporate governance and strategic renewal literature, this paper investigates how top managers’ corporate governance orientation influences a firm’s strategic renewal trajectories over time. Through both a qualitative analysis (1907-2004) and a quantitative analysis (1959-2004), we investigate this under-researched question within the context of a large incumbent firm: Royal Dutch Shell plc. Our results indicate that top managers having an Anglo-Saxon corporate governance orientation are more likely to pursue exploitative and external-growth strategic renewal trajectories, while those having a Rhine corporate governance orientation are more likely to pursue exploratory and internal- growth strategic renewal trajectories. We also found a positive moderating effect of the proportion of shareholders from the Anglo-Saxon countries on exploitative and external-growth strategic renewal trajectories. Our findings indicate that top managers’ corporate governance orientation can be an important antecedent of strategic renewal and of organisational ambidexterity, both of which influence corporate longevity.
Show more

55 Read more

STRATEGIC RENEWAL, ADAPTATION AND INNOVATION: TOWARD A RESEARCH AGENDA

STRATEGIC RENEWAL, ADAPTATION AND INNOVATION: TOWARD A RESEARCH AGENDA

This workshop is the first one of its kind in the hospitality field that aims at developing a more integrative and comprehensive conversation about the antecedents, characteristics, and output of strategic renewal by means of innovation in hotels, resort, restaurants, recreational, and other hospitality and tourism industries firms. Not surprisingly, hospitality innovation has experienced mounting interest in recent years. One important driver of this trend is the need for continuous sustainable innovation to stay competitive, which might lead hospitality firms to search for and to implement a variety of innovative solutions.
Show more

7 Read more

Value chain development in the Dutch insurance industry 
The strategic renewal of value chain activities

Value chain development in the Dutch insurance industry The strategic renewal of value chain activities

Nowadays it is very common to have large technical systems that are made up out of many interacting components. The development of Information technology made it possible and easier for larger technical systems to exist that can provide a faster flow of information and material (Baldwin, 2015). Also as information and communications technology has grown in importance and become widely recognized, the firms are confronted with major differences between what is necessary to exploit these technologies to its full potential and their current stance in it. The outsourcing of IT has therefore risen in strategic importance and very much grown as a way to close this gap (Diromualdo & Gurbaxani, 1998). The increase of technological capabilities of firms has therefore an enabling effect on the strategic renewal of firms. In the case of rapid technology changes, it is preferable for firms to have the organizational flexibility to quickly respond to the changing demands (Hitt et al., 1998; Lei, Hitt, & Goldhar, 1996). Next to that, the employment of more loose coupling of activities to enable for a quick recombination of heterogeneous inputs into multi configurations may be even increased more by the high speed technological change, it may also increase the attractiveness of specialization for a firm (Schilling & Steensma, 2001).
Show more

97 Read more

Strategic Renewal: Past Research, Theoretical Tensions and Future Challenges

Strategic Renewal: Past Research, Theoretical Tensions and Future Challenges

In contrast, the autonomous perspective draws pri- marily on the strategy process literature (Pettigrew 1992; Wooldridge and Floyd 1990) to argue that strategic renewal in organizations is not necessarily a top-down process. Burgelman (1983a,b,c) describes strategic renewal as the product of autonomous be- haviour initiated outside the top management. Front- line managers frequently take initiative to pursue new ideas (Volberda et al. 2001a) and to sell is- sues to their superiors (De Clercq et al. 2011). These managers can therefore play an active role in nur- turing and advocating strategic renewal processes (Pappas and Wooldridge 2007). Bottom-up knowl- edge inflows provide higher-level managers with an increased understanding of changes regarding tech- nologies, products and markets, which can trig- ger them to revise strategic decisions (Floyd and Lane 2000). From this perspective, strategic renewal relies on entrepreneurial participants at the prod- uct/market level who conceive new business oppor- tunities and pursue them by mobilizing corporate re- sources (Burgelman 1983c).
Show more

18 Read more

Strategic Renewal and its Effect on Small Firm Performance

Strategic Renewal and its Effect on Small Firm Performance

The construction of our estimation sample is as follows. We start with the firms in the SME Panel that participated in all three surveys of the Innovation Barometer (1999, 2000 and 2002), these are 606 firms in total. Next, we remove observations with extreme values for turnover or employment growth (or past growth). We define annual growth rates of more than 100% or less than -50% as extreme 7 . Using the remaining sample of observations, we ran a regression with all 11 strategic renewal variables (either with a one- or a two-year lag) and the control variables. As it turns out, the residuals of this regression are skewed, as ap- pears from the large value of the Jarque-Bera test statistic. Apparently, outlier observations disturb the estimation, creating a bias in the parameter estimates. Therefore we have removed the observations in the tails of the residuals. In particular we remove those observations with 5 Choosing longer lags would result in a loss of years in the estimation sample. This would leave too much information unused.
Show more

23 Read more

An exploration of the relationship between strategic renewal and occupational identity

An exploration of the relationship between strategic renewal and occupational identity

cognitive resources such as ‘shared meanings’ are a source of adaptive behavior during periods of strategic renewal (Gioia & Chittipeddi, 1991; Maitlis & Sonenshein, 2010). Their research is motivated by trying to understand how shared meaning is constructed with a focus on ‘what’ (event, crisis, strategic change) is being made sense of (Maitlis & Sonenshein, 2010; Weick, 1995). In other words, sensemaking research focuses on the relationship organizational members have with the object or subject of the sensemaking activity in order to understand the meaning itself. The identity of those involved is seen as a key source of shared meaning (Gioia et al., 2000; Reger, Gustafson, Demarie, & Mullane, 1994; Weick, 1995). My analysis does not explore how meaning is made of specific strategic initiatives retroactively, but how occupational members are going about their daily work during periods of strategic renewal. There is natural overlap as the resolution of tensions that I observe is facilitated by the sensemaking efforts of editors and reporters leading to my identification of meaning as a key mechanism. What is interesting is not that meaning is made or even that meaning may change over time, but how strategic renewal shifts the balance in how tensions between beliefs and meanings are reconciled. Isolating the link between meanings and action is based on my move away from conceptualizing occupational identity as an entity or ‘interpretive schema’ that members rely on for interpretation. Instead, I find that engaging in activities under contextual constraints privileges certain enactments of beliefs and meanings over others. For example, my first vignette illustrates how the meaning occupational members
Show more

199 Read more

Processes of Strategic Renewal, Competencies, and the Management of Speed

Processes of Strategic Renewal, Competencies, and the Management of Speed

In the common ground process, new competencies are prepared by integrating beliefs, tasks and intentions related to desirable and most likely futures. Furthermore, creation of new beliefs and intentions can also sustain and strengthen intentional and coordinated asset deployment already taking place in the organization. Thus, the process also contributes to maintaining competence. In the process of sharing, a collective understanding of new competencies and the value of existing competencies are developed. Here, a basic ideas is to develop relationships between competencies and competence deployment in the past, present and future. Competencies developed and deployed in the past are a unique sources of beliefs and insight about success and failure (Brown and Duguid, 1991). These experiences and the organizational storytelling (Boje, 1991) following them are an important source for building and maintaining competence for future asset deployment. Storytelling is highlighted as the preferred sensemaking currency of human relationships within and between organizations (Boje, 1991). If this is the case, storytelling about strategy and strategic renewal should be some of the most prominent, influential and costly stories told in organizations (Barry and Elmes, 1997). However, coherence in future asset deployment requires more than mere storytelling about the past. The development and deployment of competence in the past has to be carefully examined and re-interpreted developing a collective awareness and understanding about how the past has relevance for building new competence and maintaining present competencies. First when the people involved in the common ground process see the overall competence based relationships between past, present and future can the whole organizational potential be unleashed and coherence in asset deployment be achieved. This process prepares the organization for new competence based on the development of common ground.
Show more

44 Read more

Managing design and designers for strategic renewal

Managing design and designers for strategic renewal

way to differentiate the offerings of a company in light of factors such as aesthetics, price and performance, may emphasise only the superficial outcome of the design process, overlooking its potential in driving or facilitating strategic renewal. Explicit reflection on distinctive core elements of the philosophy underlying product design and on their connections with technological competencies and brand values may help managers shape or support a coherent strategic intent to regain or reinforce competitive advantage. While using design – or rather “styling” – as a way to stimulate stagnant demand or sustain exports is not new to companies, promoting design-driven renewal means recognizing that design is not simply a matter of enhancing functionality or styling, but is a powerful symbolic medium for expressing or reinforcing a unique set of meanings embodied in a brand. Design may then support the new strategic course by performing an integrative role between technology and meaning, as form and function of new products inspired by the design philosophy of the company draw on core capabilities to sustain public perception of the brand (see figure 1).
Show more

44 Read more

How management control systems can facilitate a firm's strategic renewal and creation of financial intelligence

How management control systems can facilitate a firm's strategic renewal and creation of financial intelligence

financial departments need to develop their capabilities to exploit the opportunities offered by big financial data in their organizations. Specifically, as the Internet of Things (IoT) develops rapidly in the manufacturing sector, managers responsible for financial issues should collaborate with the business functions to better understand the linkage between the core business and the financial figures. For instance, customer satisfaction in some industries can be predicted from the unexpected breakdown rate of the firm’s equipment. Utilizing IoT to evaluate potential breakdowns could help a firm to improve its customer satisfaction levels, and eventually, customer-specific profits. Thereafter, the finance department should delve deeper into the firm’s core business and grasp the business strategy, initiatives, and patterns. The CFO in the future will not just be a gatekeeper of financial assets, but will actively participate in the strategic discussions related to the firm’s new product, market, and business development opportunities. Overall, more advanced analytics might be applied to diminish organizational silo effects as knowledge and data become integral to future decision-making processes.
Show more

29 Read more

Urban Renewal Strategy

Urban Renewal Strategy

Introduction 1 Hong Kong’s building stock is ageing rapidly. There are at present about 4,000 buildings aged 50 years or above in Hong Kong. The number will increase by 500 a year over the next decade. Despite efforts of the Government, dedicated agencies like the Urban Renewal Authority (URA) and the Hong Kong Housing Society (HKHS), Owners’ Corporations and relevant professional bodies, the conditions of Hong Kong’s old buildings remain unsatisfactory, posing threats to public safety.

23 Read more

The Renewal of Banking Supervision

The Renewal of Banking Supervision

financial system were created around the political changes of 1989–1990, initially in- dependently of one another. Subsequently, starting from the second half of the 1990s, the merger of supervisory authorities related to different markets in the financial sec- tor began. First, the banking supervision and capital market supervision were merged, and from 2000, the Hungarian Financial Supervisory Authority was established, which also included insurance supervision. As in many other countries of the world, the economic crisis of 2008 highlighted the need for a new supervisory strategy to detect the risks in good time. However, an integrated supervisory approach, separate from the central bank, was in place until 2013. The milestone on the path to renewal was 1 October 2013, when upon the termination of the Hungarian Financial Supervisory Authority, the tasks of the Magyar Nemzeti Bank were supplemented with the super- vision and consumer protection functions of the Hungarian Financial Supervisory Authority, thus making it possible to concentrate the macro- and micro-prudential mandate in a single institution. In 2014, the Magyar Nemzeti Bank (MNB) also estab- lished a resolution division, through which efficient crisis management could be pro- vided for institutes that were struggling with problems, but were economically viable. Overall, in line with international trends, the supervisory function of the financial system was thus integrated into the Magyar Nemzeti Bank, establishing a central bank with one of the most sophisticated toolkits in the world, consolidating the micro- prudential supervision of all markets of the financial system, including the micro-pru- dential oversight of the banking, insurance, fund, capital and intermediary markets, the macro-prudential oversight of the financial system, the function of resolution, as well as financial consumer protection, and including the complete set of monetary policy instruments.
Show more

23 Read more

Certification Renewal Bulletin

Certification Renewal Bulletin

All information submitted is subject to random audit. You are responsible for deciding what professional develop- ment is most appropriate for your needs, and when you submit your certification renewal form, whether on paper or online, you attest that all information is accurate. You must retain documentation for the CEUs submitted for three years from the date the renewal is requested, and submit this documentation upon request.

6 Read more

THE RENEWAL OF CIVILIZATION 289

THE RENEWAL OF CIVILIZATION 289

A Catholic Perspective (2005) and Stewardship of Creation (2009). Hanink is midway in his fourth decade of teaching philosophy. His areas of special interest are Th[r]

6 Read more

Biblical Resources for Renewal

Biblical Resources for Renewal

sustain right relationships is at the heart of Jesus’ message (Matt 5:6) and the parable of the sheep and the goats in Matt 25 that concludes Jesus’ teaching is concerned with seeing a[r]

9 Read more

Certification Renewal Bulletin

Certification Renewal Bulletin

All information submitted is subject to random audit. You are responsible for deciding what professional develop- ment is most appropriate for your needs, and when you submit your certification renewal form, whether on paper or online, you attest that all information is accurate. You must retain documentation for the CEUs submitted for three years from the date the renewal is requested, and submit this documentation upon request.

6 Read more

Organisational renewal in family firms

Organisational renewal in family firms

Conversely, however, there are some clear indications that family businesses may indeed be characterised by an ability for re-invention. Some family firms have been found to have cultural preferences for entrepreneurship (Zahra et al., 2004). Craig and Moores (2006) provided evidence that “family firms appear to place substantial importance on innovation practices and strategy” (p.7). Memili et al (2010, p.207) have similarly found that “family expectations provide incentives to maintain high levels of family firm image and encourage entrepreneurial risk taking.” It has recently been demonstrated that it is the strategic capabilities associated with entrepreneurial SMEs (rather than engineering or administrative SMEs) which tend to perform better in terms of R&D capability and product innovation (Raymond and St-Pierre, 2010, p. 209). Carney has argued forcefully that the personalism and particularism associated with the family firm form enhance rapid and flexible opportunistic investments based on intuitive heuristics (Carney, 2005). Concentration of control in family hands may
Show more

35 Read more

Economic renewal programme : response to the Assembly Government’s economic renewal programme consultation

Economic renewal programme : response to the Assembly Government’s economic renewal programme consultation

5.20 The Assembly Government should build on the start it has made with the Strategic Capital Investment Fund and further investigate how it can creatively use its devolved powers to finance new infrastructure programmes and improve access to capital for businesses wanting to create jobs in Wales. The Sustainable Development Commission’s Delivering Neighbourhood Retrofit project in England has explored how investment can be stimulated and direct when credit is limited. Other sustainable investment vehicles, such as Green Bonds, the re-establishment of Finance Wales as Welsh Sustainable Investment Bank, and the expansion of mutual and cooperative models for community infrastructure projects should all be urgently explored. 5.21 The Assembly Government should establish an Independent Review of Planning with the aim of
Show more

18 Read more

The Dynamics of the Transfer and Renewal of Patents

The Dynamics of the Transfer and Renewal of Patents

It is also useful to take a more detailed look at the rates of transfer and expiration. Table 3 reports these rates across patentees and disaggregated by technology fields. The top part of the table presents the cumulative transfer rates and the bottom part the cumulative rates of expiration by age 13. The columns of the table are the technology fields and the rows are the type of patentees. The magnitude of the differences in the transfer rates between patentees vary when we examine technology fields separately, maybe indicating a different degree of patentee specialization in research across technology fields. For instance, table 3A shows that in the computer and communication category, small innovators transfer 23.9% of their patents while large innovators only sell 7.9% of theirs. But in the chemical category the sale rates are 17.2% and 12.5% for small and large innovators respectively. 4.2 Patent characteristics and the transfer and renewal of patents The second set of patterns we present identifies a set of patent characteristics that are systematically related to the trading and the renewal decision; namely the total number of patent citations received by a given age, the patent generality, whether the patent has been previously traded and the timing of the last trade. These patterns can help us understand what type of patents are more likely to be sold and how quickly the change in ownership occurs over the life cycle of a patent. 34 In addition, the following patterns are consistent
Show more

46 Read more

Commercialization, Renewal and Quality of Patents

Commercialization, Renewal and Quality of Patents

When acquisition and licensing contracts rely uniquely on variable fees (and hence lack fixed fees) there is another moral hazard problem (Dechenaux et al. 2009). Commercialization requires investment by the external firm, but the firm’s true agenda is private information and concealed from the inventor. For example, the licensee may intentionally “shelve” the invention for strategic reasons, in an attempt to block competing firms from developing the invention, or to protect other existing patents of the licensee. The shelving may also be unintentional if the firm realizes the expected profits are lower than the firm’s required rate of return at any stage of development. By including fixed (upfront or annual) fees in the contract, Dechenaux et al. (2009) show the external firm has an incentive to commercialize the invention, and hence signals its intentions to the inventor.
Show more

41 Read more

KBN CONNECTION ANNUAL RENEWAL 2014 ANNUAL LICENSE RENEWAL NOTIFICATION

KBN CONNECTION ANNUAL RENEWAL 2014 ANNUAL LICENSE RENEWAL NOTIFICATION

1st through October 31st of the renewal year. In 2008, the regulation was amended to reflect that pharmacology CE hours can be earned from any provider that is recognized by your APRN accrediting body. It is the responsibility of the individual APRN to contact the certifying body for a complete and up-to-date list of recognized providers for their organization. APRNs with a CAPA- CS are required to earn 1.5 approved CE contact hours on the use of KASPER, pain management or addiction disorders. These

16 Read more

Show all 8874 documents...