New Managerial Mindsets: Organizational Transformation and Strategy Implementation / Edition 1

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New Managerial Mindsets Organizational Transformation and Strategy Implementation In order to make sense of the new frontier of business, which entails rapid and unpredictable changes, strategic discontinuities, economic uncertainties and hypercompetition, new forms of managerial thinking will be required. The new thinking, or 'managerial mindsets' need to be global in orientation and allow strategic and structural flexibility in an integrated way. A major part of staying ahead in the new business climate will depend on organizations having the capability to create and implement strategic and structural changes that entail continuous technological improvements, particularly in the area of IT. While the importance of IT to business is widely recognized and reported, organizations still have difficulty in harnessing its true potential, namely, the ability to transform industries and markets. Flexible organizational networks that build and share the knowledge of its employees, suppliers, customers and competitors and keep pace with technological advances are the way in which companies with completely new mindsets will stay one step ahead. The editors have selected contributions that address two major themes of this new business environment and the means of managing strategically within it. Part I: Interconnected Thinking: Managerial Mindsets, Information Technology and Organizational Change looks at the shared, interconnected mental framework required throughout a firm's managerial ranks. It is based on sensemaking that represents an intangible structure in the firm. IT supports sensemaking and, thus, managerial mindsets through linkages in a managerial network and the information that flows through this network. IT is particularly important for development and the implementation of strategy and provides a form of structure to organizations. As such, IT and strategy must be aligned. Through the structure and the information that IT provides, comes the need for a firm's strategic flexibility. Managerial mindsets oriented toward change and flexible IT architecture facilitate organizational transformations. Part II: Interconnected Perspectives: Strategies, Competencies and Performance raises the importance of integration between strategy formulation and implementation processes. For example, mission statements can provide useful guides for, not only the formulation, but also the implementation of strategy. Implementation processes are particularly important for successful strategic change. A key element in implementation of strategy and strategic change is the managerial reward system. Managerial compensation affects managerial actions (e.g. to promote resource sharing across business units) and the firm's ability to effect change. Similarly, managerial ownership in a firm is often used to align managers' interests with those of the shareholders. For example, increased managerial ownership stakes in Asian firms may lead to greater product diversification because of the less diversified portfolios of Asian investors. Many other intangibles affect implementation. Founding conditions can also affect resources, routines and competencies in later time periods. Therefore, New Managerial Mindsets: Organizational Transformation and Strategy Implementation addresses critically important topics relevant to firms' success in the changing global competitive landscape.

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Product Details

  • ISBN-13: 9780471986676
  • Publisher: Wiley
  • Publication date: 1/4/1999
  • Series: Strategic Management Series, #10
  • Edition number: 1
  • Pages: 370
  • Product dimensions: 1.00 (w) x 6.00 (h) x 9.00 (d)

Meet the Author

Michael A. Hitt holds the Paul M. and Rosalie Robertson Chair inBusiness Administration at Texas A & M University. He receivedhis PhD from the University of Colorado and has been chosen toreceive an honorary doctorate from the Universidad Carlos III deMadrid in recognition of his scholarly contributions in businessadministration. He has authored or co-authored several books andbook chapters and numerous journal articles in such journals as theAcademy of Management Journal, Strategic Management Journal andAcademy of Management Review. Furthermore, he has served asConsulting Editor (1988-90) and Editor (1991-93) of the Academy ofManagement Journal. He is a Past President of the Academy ofManagement and is a Fellow in that organization. Following MichaelPorter (1994) and C.K. Prahalad (1995), he received the 1996 Awardfor Outstanding Academic Contributions to Competitiveness from theAmerican Society for Competitiveness. Joan E. Ricart i Costa is afull professor in Economics and General Management at IESE. He isChairman of the General Management Department and Director of theDoctoral Program. At the Universidad Politécnica deCatalunya (1978), he received a doctoral degree in IndustrialEngineering in 1982 and was also professor there. From NorthwesternUniversity (USA), he received a Master of Sciences (1982) and PhDin Managerial Economics (1984); he is also a Doctor in Economics bythe Universidad Autónoma de Barcelona (1985). In 1992-93 hewas Research Fellow at the Harvard Business School. He haspublished several books and articles in international and nationaljournals. His areas of interest are strategic management, economicsof organizations and organizational design, industrial economicsand game theory, and information systems. Robert D. Nixon is anassistant professor of Strategic Management at the A.B. FreemanSchool of Business, Tulane University, where he teaches strategicmanagement, global strategic management, project management andorganizational theory at the undergraduate, masters and doctorallevels. Dr Nixon earned his engineering degree from Brigham YoungUniversity and his PhD in Strategic Management from Texas A & MUniversity. Dr Nixon's research has been presented at the annualmeetings of the Academy of Management, Administrative SciencesAssociation of Canada, Marketing Science Institute, and ProjectManagement Institute. He has published in the Journal ofEngineering and Technology Management, Entrepreneurship Theory& Practice, Marketing Science Institute and OrganizationalDynamics as well as the proceedings of national conferences. Hisextensive industrial experiences encompass work for international,high-technology firms and the founding and management of more thana dozen entrepreneurial firms.

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Table of Contents

Strategic Thinking: Strategy as a Framework in the Mind Managers byVila and Masifern.

What Constitutes an Effective Mission Statement: An EmpiricalInvestigation by Markides and Papadakis.

Bridging the Gap Between Intended and Unintended Change: The Roleof Managerial Sensemaking by Balogun and Johnson.

Collective Thinking in Strategic Change Processes by Lindell,Ericson and Melin.


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