At the same time this model assumes three generic

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Unformatted text preview: sources, whether financial, operational or personal, are deployed 9 around the new project. At the same time, this model assumes three generic levels of managers: senior, middle and bottom. For our specific case we considered that the organizational levels are: the CEO and Board of directors as the senior level, the second and third line managers as the middle level, and the operating level managers as the bottom level. The second level managers, who were the core of our interviews, played a pivotal role in connecting the CEO with other organizational members. On the one hand, they were part of an ‘executive committee’ alongside the CEO; on the other, they were heads of their respective units. These second level managers operated as managers of their business units and at the same time had access to top management and deliberation with the CEO. It must be noted that, through the interviews, we had access to the top, second and third levels; the inferences we make about the operational level are based on company documents and the views of the CEO and second level managers. Our intention was to observe the translation of the strategic intent into action. Therefore, the data on the evolution of strategic initiatives obtained from the interviews, along with archival data, was sufficient for our purpose. It must be noted that an alternative argument for managerial use of strategy and its guiding character is managerial incentives or reward systems, as developed by Boyd and Salamin (2001). We did not include this analysis in our research, aiming at parsimony. The alignment of incentive and reward systems with current strategy can be a decisive factor in the use managers give to strategy and the extent to which strategy has a guiding character (Boyd and Salamin, 2001). Lack of such alignment could have biased our findings. We isolated this issue as an alternative explanation by asking interviewees for their general impression as to the alignment of the reward systems with current strategy. All informants indicated that “generally speaking, the incentives established and the rewards given were consistent with the strategic objectives”. In addition to this, all interviewees evaluated the reward system as satisfactory. This implies that the analysis we have conducted is at least not biased by the effects of a problematic reward system. Research Findings We will present the main findings in two segments. First, we will present the general context in which strategy-making developed. The aim of the first segment is to describe the system employed and to state the expected role of organizational members. Second, we will present the analysis we have made of the evolution of the strategic initiatives, in an attempt to shed light on the dynamics of the interaction between strategic intent and specific strategic initiatives. At the end of that second section, we will present the refined conceptual framework, integrating evidence and analysis, to extend our understanding of strategymaking and its relationship with managerial action. The Strategy-Making Process The company divided the formal s...
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