Strategic Management Research Research Articles

Strategic Management in Improving the Quality of Education in Madrasah Dta Al-Ishlahul Athfal Cirebon

The achievement of quality education will not succeed without the right strategy for improving the quality of all components in an educational institution. This study aims to reveal and analyse the natural background, analysis of internal and external conditions, implementation and evaluation of strategic management, and the results achieved from implementing strategic management in improving the quality of education in Madrasah DTA Al-Ishlahul Athfal Cirebon. The research method used in this study is descriptive qualitative. Data collection techniques are carried out through interviews, observations, and documentation studies. The results of strategic management research in improving the quality of education in Madrasah DTA Al-Ishlahul Athfal Cirebon consist of four stages: environmental analysis, formulation, implementation, and evaluation. Environmental analysis is carried out by internal analysis covering strengths and weaknesses and external analysis covering opportunities and threats. The conclusion of this study is strategic management in improving the quality of education carried out by Madrasah DTA Al-Ishlahul Athfal Cirebon, namely by carrying out several stages as follows. The stage of analysis of the internal and external environment, formulation of strategic management, implementation of strategic management, evaluation of strategic management and results of strategic management.

Customers, Markets, and Five Archetypical Value Creation Logics: A Review of Demand-Side Research in Strategic Management

Scholars have examined the role of customer preferences, and demand-side characteristics more generally, in varied core strategy areas like market entry and timing, diversification, positioning, resource reallocation, and firm adaptation, among many others. We review this diverse demand-side literature and develop an empirical classification that identifies five archetypical customer value-creation logics seen in the literature to date. To apply each of these logics, a firm must look downstream with the intent of matching, leveraging, adapting, learning, or shaping customer preferences or market characteristics to create value for customers. For each value-creation logic, we detail the logic itself, how the demand side is characterized, how specific strategic decisions allow for value creation following the logic, literature gaps in the logic, and opportunities for future research. Opportunities include extending the work on existing logics, examining the combined effects of multiple logics, identifying understudied demand-side characteristics, and studying strategy applications for which demand-side attributes have received comparatively little attention to date. These include business models, corporate social responsibility (CSR), corporate governance, and demand-side shocks. Finally, we address implications for managerial practice.

Exploring performance heterogeneity: Integrative insights from strategic management and marketing

The purpose of this essay is to compare and contrast several definitions of performance outcomes across the strategic management and strategic marketing literature streams. We motivate our study on the shared history of both fields in explaining performance heterogeneity across firms. Our review of literature on the concept of competitive advantage in the strategic management field, and an exemplar case of strategic marketing research on brand competitiveness, highlights opportunities for cross-fertilization across these domains. In particular, we argue that future research on brand competitiveness may benefit by drawing on the concept of ecosystems, business models, and microfoundations research in strategic management.

Strategy Implementation Model for Commercial Banks in a Developing Economy: A Resource-Capability Approach

Extensive research in strategic management has shown that more than half of the business strategies fail to accomplish their intended objectives due to problems with strategy implementation. However, in comparison to strategy formulation, strategy implementation has received insufficient attention both at the theoretical and empirical levels. The objective of the study was to develop a comprehensive model that augments the effectiveness of strategy implementation in the context of a developing economy. A sample of 229 top and middle-level managers of commercial banks was chosen to collect quantitative data, and around 187 (82%) questionnaires were returned. The quantitative data analysis was carried out using structural equation modelling. By operationalizing strategy implementation capability as a second-order reflective-formative construct, the study established an empirically informed strategy implementation model that entails three components, namely, critical strategy implementation-related resources, key elements of strategy implementation capability and strategy implementation performance. The study contributes to the existing knowledge on strategy implementation by expanding the extant strategy implementation frameworks/models to a broad-based and integrative model.

Edith Penrose's Under-Explored Insights in Strategic Management and International Business Research

Edith Penrose's Under-Explored Insights in Strategic Management and International Business Research

Safe Bets, Long Shots, and Toss-Ups: Strategic Engagements Between Activists and Firms

We use a game-theoretic model to examine how different types of activist motivation affect strategic interactions between an activist and a firm in the context of a threatened adversarial engagement, in which the activist can benefit from “warm glow” and media publicity as well as from firm compliance with activist demands. The model yields novel predictions about when firms prefer to self-regulate to pre-empt a contested engagement, how vigorously firms defend themselves against the activist’s attack if an engagement occurs, and a new taxonomy of engagements, characterized by offensive and defensive strategies and the likelihood of activist success. The model predicts that when warm glow and campaign-driven wins are important motivations for activists, safe bet and long shot types of engagements are more likely to occur: These tend to be lower expenditure skirmishes where one party has a clear advantage and where a pre-emptive settlement is infeasible. By contrast, firms and activists are more likely to negotiate self-regulation that pre-empts resource-intensive toss-up engagements where each side is evenly matched and expends significant effort. Our findings contribute to strategic management research by developing new insights about how firms respond to different activist motivations and types of engagements. We explore extensions of the model and discuss implications for future empirical and theoretical research on the management of activist relations. This paper was accepted by Joshua Gans, business strategy. Supplemental Material: The online appendix is available at https://doi.org/10.1287/mnsc.2022.01638 .

Future Directions in Strategic Brand Management Research Using Bibliometric Analysis: A Decade Review

This research aim is to examine future directions in strategic brand management research through a bibliometric computational mapping analysis using VOS viewer. Publish or Perish reference manager application is used to retrieve the Google Scholar database in order to fulfill research data. The title and abstract of the article are used to provide guidance on the search process based on the keywords "Strategic Brand Management". The results showed 997 relevant articles. The search for publication data used as study material was carried out in the last ten years (2013-2023). The results also showed that there are two larger circles comparing others, namely “brand loyalty” and “business strategy”. The term “brand loyalty” is associated with 15 links, 33 total link strength, and 30 occurrences, while the term “business strategy” is associated with 10 links, 33 total link strength, and 31 occurrences. The results of strategic brand management research in the last ten years show a declining trend, from 104 publications to 61 publications. There were only increase a little bit in 2015, from 104 publications to 115 publications, and increase in 20203, from 80 publications to 93 publications. Based on a downward trend, publications on strategic brand management in the last ten years were dominated by 2015 (115 publications). The results of this study are expected to inspire and develop the articles of related terms in the future.

Enhancing public sector enterprise risk management through interactive information processing.

Federal agencies are increasingly expected to adopt enterprise risk management (ERM). However, public sector adoption of ERM has typically focused on the economic efficiency of tax-financed activities based on control-based practices. This reflects an emphasis on quantifiable concerns that invariably directs attention to risk, that (by definition) relates to identifiable and measurable events, thereby downplaying uncertain and unknown aspects of public exposures. This is a potentially serious shortcoming as government entities often act as society's risk managers of last resort. When extreme events happen what were previously considered private matters can quickly turn into public obligations. Hence, there is a need for proactive assessments of the evolving public risk landscape to discern unpredictable-even unknowable-developments. The article reviews recent empirical studies on public risk management practices, effects of digitalization in public sector institutions, current strategic management research, and insights uncovered from a recent study of risk management practices in federal agencies. On this basis, the article explains how the ability to generate value from ERM can be enhanced when it intertwines with local responsive initiatives and central strategic risk analyses. It can form a dynamic adaptive risk management process where insights from dispersed actors inform updated risk analyses based on local autonomy and open exchange of information. This approach builds on specific structural features embedded in culture-driven aspirations to generate collaborative solutions. Its functional mode is an interactive control system with open discussions across levels and functions in contrast to conventional diagnostic controls that monitor predetermined key performance indicators (KPIs) and key risk indicators (KRIs). Backed by theoretical rationales and empirical research evidence, it is found that applications of ERM frameworks can produce positive results but is unable to deal with a public risk landscape characterized by uncertain unpredictable conditions with potentially extreme outcome effects. It is shown how interactive exchange of fast local insights and slow integrated strategic risk analyses supported by digitized data processing can form a dynamic adaptive system that enable public sector institutions to deal with emergent high-scale exposures. It is explained how the requirement for conducive organizational structures and supportive values require a new strategic risk leadership approach, which is contrasted to observed practices in federal agencies that are constrained by prevailing public governance requirements. The need to deal with uncertainty and unknown conditions demands a cognitive shift in current thinking from a primary focus on risk to also appraise complexity and prepare for the unexpected where data-driven methods can uncover emergent exposures through dynamic information processing. This requires strategic risk leaders that recognize the significance of complex public exposures with many unknowns and a willingness to facilitate digitalized information processing rooted in a collaborative organizational climate. If handled properly, adoption of ERM in public risk management can consider emergent dimensions in complex public exposures applying interactive information processing as a dynamic adaptive risk management approach incorporating digitized methods to solicit collective intelligence for strategic risk updating.

Why do firms fail? A new view on bankruptcy from the angle of top management team heterogeneity

AbstractAvoiding bankruptcy is a crucial task for any firm’s top management team (TMT), and reasons for the failure to accomplish it have long been studied. While financial metrics can predict near-term bankruptcy, governance characteristics increase precision in the long term. With TMT heterogeneity, we introduce a powerful predictor for the critical time frame in between. Grounded in upper echelons theory, we argue that TMT age heterogeneity increases while heterogeneity in TMT pay and TMT functional backgrounds decreases the bankruptcy probability. We test our hypotheses using a unique dataset of large, public U.S. firms, about half of which filed for bankruptcy between 2001 and 2020. Our results support our research model and show how TMT heterogeneity significantly predicts bankruptcy. We contribute to both bankruptcy and strategic management research by underscoring the importance of TMT heterogeneity as a level of analysis when predicting bankruptcy and add to the ongoing discussion on the impact of TMT pay differences on firm performance. Additionally, we offer valuable insights to practitioners navigating their firms in times of crisis and to regulators shaping the insolvency statutes of the future.

Corporate Decision on Digital Transformation: The Impact of Non-Market Factors

This multiple regression study investigated the relationship between the political network and the adoption of digital transformation strategy and if moderated by perceived corruption and political ideology of top managers among diverse enterprises in China. The aim of this study is to contribute to strategic management research on non-market factors of digital transformation. The instruments used for the study were political network relationships, digital transformation strategies, perceived corruption, economic conservatism, cultural conservatism, social conservatism, and meritocracy of top managers. A basic regression model is a causality test between the political network and digital transformation. In addition, moderated multiple regression analysis with factor analysis to analyze moderator variables perceived corruption and political ideology and their interaction with the political network and effect on digital transformation. The study included 214 firms as a convenience sample. Practical significance indicates that the firm with a higher level of political network relationships is more likely to conduct digital transformation and the higher level of top manager’s perceived corruption and economic conservatism mitigates the positive impact of the political network on digital transformation, while the higher level of top manager’s meritocracy tendency strengthens the positive impact of the political network on digital transformation.

Run! This road has no ending! A systematic review of PLS-SEM application in strategic management research among developing nations

Partial least squares structural equation modelling (PLS-SEM) is emerging as a prominent methodological tool in strategic management research. Although it offers various advancements to stay relevant with growing research needs, the pace of PLS-SEM adoption may differ in different parts of the world. In this paper, we conducted a systematic review using the PRISMA framework and extracted from the top-ranking strategic management journals 120 articles published between 2011 and 2022 that presented a microscopic view on developing nations. Our findings reveal that despite the astounding methodological solutions offered by PLS-SEM, the studies from developing nations are still trailing behind developed nations in terms of fully exploiting the advancements of PLS-SEM to provide substantial insights to strategic management literature. This review identifies discrepancies in the current application of the method, discusses the most recent advancements and provides the best practices, standard guidelines and recommendations for the best use of PLS-SEM in strategic management research.

Big Tech, Competition Policy, and Strategic Management: An Alternative Perspective to Teece

Teece asserts that competition policy is so outdated that it now significantly degrades the ability of Big Tech firms to bring socially beneficial innovations to market. He suggests that strategic management research is essential in the struggle to update such policies. We counter that none of these assertions are accurate, let alone backed by evidence. While the larger goal of improving laws and policies through scientific research is a worthy one, the specific focus on doing so to aid a set of powerful firms that have allegedly caused—directly or indirectly—great societal damage is quite unappealing. To balance his pro-Big Tech perspective, we provide logical and theory-based arguments and evidence that indicates Big Tech has often been bad for innovation and society while their regulation has been good, and that more oversight—specifically tailored to digital platforms—would be better. We then offer three alternative paths for us, as management scholars, to take that leverage our distinctive skills and that fulfill our ethical and professional mandates, in the pursuit of improving the strategic decisions and actions that policymakers and firms take.

Value creation in the metaverse age: a thematic analysis of press releases

PurposeSince Zuckerberg's announcement to change Facebook's name to Meta Platforms Inc. on October 28, 2021, the concept of the metaverse has gained unprecedented popularity in the business world. Tech giants, SMEs and start-ups across various sectors are making substantial investments in metaverse-related technologies. Despite this, scholarly research in entrepreneurship and strategic management regarding the metaverse remains limited. This paper, grounded in value creation theory, aims to analyze how value is generated in the metaverse era.Design/methodology/approachThis paper conducts a thematic analysis of 895 press releases published by LexisNexis between October 28, 2021, and October 28, 2022. The analysis identifies the primary emerging themes related to value creation in the metaverse age.FindingsThe thematic analysis reveals four significant emerging themes concerning value creation in the metaverse age: (1) factors enabling value creation, (2) digital resources contributing to value creation, (3) motives driving value creation and (4) practices of value creation.Originality/valueThis paper represents the inaugural attempt to analyze the metaverse through a value creation lens. Given the substantial investments and growing academic interest in the metaverse, understanding value creation in this context is a pressing concern. Additionally, this study provides valuable insights and suggests critical questions for future research on the metaverse.

What is strategic management research?

Purpose: The aims of this study is to describe the strategic in management research Methods: A literature analysis method was used, in which researchers conduct conceptual studies and review strategic and strategic management theories, research results, and expert opinions. Furthermore, the researchers grouped, allocated, organized, and used a variety of literature in specific fields. Results: Strategic management is a concept of building capabilities that enable companies to create value, shareholders, and society when operating in a competitive market. This can result in studies of decisions and actions taken by top executives/TMT so that companies gain competitive advantage. Limitations: This study used a qualitative approach with a limited level of generalization; therefore, so in the future it may also be necessary to review it with other approaches and wider research locations. Contribution: This study provides views on the revitalization of tourism destinations in terms of synergy between stakeholders so that it can be the basis for developing development policies, especially in the aspect of local communities.

Strategic Management Research of New Development Period for Internet Retail Enterprises

The new development period refers to the stage from the explosive growth of internet retail enterprises in 2018 to the present, experiencing the fluctuations of the pandemic and the capital boom, as well as unstable economic development. Strategic management for enterprises during this period is particularly important. Under turbulent conditions, what methodologies should business organizations choose as the basis for forming their forecasting and development strategies? Under unstable conditions, how can enterprises form the optimal strategic management system? This paper combines relevant theories and case studies to explore the effectiveness and feasibility of enterprise strategic management in specific situations, providing reference for relevant practitioners and interested parties.

The Impact of Digitalization on Strategic Management: A Bibliometric Analysis of Technology Integration in Strategic Decision Making

This research conducts a comprehensive bibliometric analysis to explore the impact of digitalization on strategic management, with a specific focus on the integration of technology in strategic decision-making. The analysis spans the years 2002 to 2023, incorporating peer-reviewed articles and conference papers from prominent databases such as Scopus, Web of Science, and PubMed. The study employs citation analysis, co-citation analysis, and keyword analysis to uncover influential works, thematic clusters, and prevalent research themes within the literature. Key findings reveal a steady increase in publications over the past two decades, indicative of the growing scholarly interest in the intersection of digitalization and strategic decision-making. Seminal works, including "Implanting strategic management" by Ansoff et al. and "Strategic Management: Concepts & Cases Competitiveness and Globalization" by Hitt et al., continue to wield substantial influence. Clusters identified through co-citation analysis reflect themes such as digital business, SME strategies, customer-centric approaches, and the integration of artificial intelligence. Keyword analysis underscores the prominence of terms like development, capability, and the digital economy, signifying a comprehensive exploration of the multifaceted nature of digitalization's impact on strategic decision-making. The analysis also highlights evolving research agendas, with a shift towards dynamic capabilities, digital platforms, and customer-centric strategies. This research contributes to the understanding of the current state of research in digitalization and strategic management, offering insights for scholars, practitioners, and policymakers navigating the dynamic landscape of digital transformation.

Analisis Pengembangan Model Bisnis pada Perusahaan Jasa K3 Menggunakan Business Model Canvas (Studi Kasus Pada PT. ABC)

This research aims to develop an appropriate business strategy based on Business Model Canvas (BMC) during COVID-19. It was a strategic management research design carried out at PT. ABC. Data analysis was carried out by (1) Identification of the BMC, (2) Identification of strategic issues of internal and external factors from 9 elements of BMC, (3) Formulation of Strategy through 3 stages, namely the input stage (Internal Factor Evaluation (IFE) Matrix and External Factor Evaluation (EFE) Matrix), matching stage (Internal External (IE) Matrix and SWOT Matrix) and decision stage. The study results showed several points on the BMC elements of PT. ABC needs to be updated, so it is right on target, including (a) Customer Segments: adding students and graduate students. (b) Value Proposition: Additional income for non-alumni (employees, students, and fresh graduates) and adequate information related to occupational health and safety (c) Channels: adding Search Engine Optimization (SEO) to improve the communication system and include non-inhouse sales. (d) Customer relationships: using Telegram as social media, (e) Key Activities: marketing activities carried out by marketing staff from home. (g) Key Partnership: involving freelance marketing as main partner. Then, using Google, LLC, into a key partnership. (g) Cost Structure: includes marketing fees for freelance marketing.

How the human resource (HR) function adds strategic value: A relational perspective of the HR function

AbstractIn the present article, we propose the concept of the HR function's relational activities and examine its influence on the firm's human capital resources (HCRs) and performance. Integrating insights from various streams of research in strategic human resource management (HRM) and strategic human capital, we develop a relational perspective of the HR function and propose the relational activities as the HR function's advisory and informative activities toward its internal stakeholders (i.e., line managers, employees, and senior managers) to help the stakeholders meet their goals and needs. In our framework, we theorize how the HR function's relational activities lead to superior firm performance by enhancing the firm's HCRs and identify the firm's strategic HR systems and human capital losses as factors that complement and necessitate the HR function's relational activities, respectively. Using a five‐wave, nationally representative panel dataset covering 1415 firm observations, we find robust support for our hypotheses: the HR function's relational activities were positively related to HCRs, which was more pronounced when coupled with high levels of strategic HR systems and human capital losses. The HCRs, in turn, transmitted the effects of the relational activities on the firm's subsequent operational and financial performance. Overall, these findings develop strategic HRM theory by contributing a more comprehensive conceptualization of the HR function's role in the strategic HRM process and by revealing its effects on firm performance along with key moderators.

Portfolio management: A new direction in public sector strategic management research and practice

AbstractPortfolio management is widely used by large government agencies and nonprofits, but it is rarely discussed in public administration scholarship. Portfolio management tools can illuminate groups of projects that should be considered as priority investments by highlighting the relationship of risk to outcomes. This article explores historical and theoretical reasons for the neglect of portfolio management, and then proposes using portfolio management to update a classic strategic management framework to guide organizational choices in public administration. Though portfolio management ideas originated in the private sector, public sector portfolio management differs from its private sector counterpart by trading off risk with public value or mission outcomes rather than financial outcomes. Portfolio management is a tool to incorporate risk to mission in investment decisions. It holds promise for adding an intermediate‐level implementation tool to develop theories of public value. The paper concludes with hypotheses for future investigation.

Impact of Social Media on Strategic Management in Morocco

Purpose: The study sought to analyze the impact of social media on strategic management in Morocco
 Methodology: The research was conducted entirely on desktop review method. Secondary data, or data that doesn't require actual observation in the field, are the focus of desk research. Because it requires little more than an executive's time, telephone rates, and directories, desk research is generally seen as a low-cost strategy in comparison to field research. As a result, the research used data that had already been collected and reported. This secondary data was readily available via the internet's digital library and scholarly articles.
 Findings: The results show that social media has had a profound impact on strategic management. It has enabled organizations to identify and capitalize on opportunities, manage risks, and increase efficiency. By leveraging the power of social media, organizations can gain valuable insights into their customers, competitors, and the market, enabling them to make more informed and effective decisions. Social media has become an increasingly important part of the business landscape and its impact on strategic management in Morocco has been profound.
 Unique Contribution to Theory, Practice and Policy: Future research in strategic management may be grounded in either the resource based view theory or the network based view theory. Policymakers, researchers, and academics from all across the world will all stand to gain from this study's findings. The study's findings will also be used by the country's top strategic management executives to boost the effectiveness of social media across all of their operations and initiatives. According to the research, social media organizations may boost their productivity in key areas by adopting rules for dealing with conflicts.