战略扩张与融资选择

结合信息经济学和代理成本理论的研究结论建立了一个公司扩张战略对融资契约影响 的模型. 研究结果显示公司横向一体化战略扩张所获得的剩余与债务比率正相关,但是如果公 司计划从纵向一体化中获得剩余,减少负债水平并增加专用性投资水平是理性选择. 而且模型 对公司融资契约的委托代理问题进行了分析,认为现金流对融资契约产生重要影响. 在此基础 上对模型的主要结论进行了实证检验,检验结果与主要研究结果相吻合. 最后,为公司战略扩 张和融资决策提供了若干建议.     

战略维度间的匹配关系与企业战略定位选择——基于战略群组理论视角

基于战略群组理论视角,分析了企业战略定位中不同战略维度的匹配问题。以境内外交易所上市的中国互联网企业为样本,选取移动互联业务比重和IT投入强度这两个关键战略维度,采用面板数据回归模型检验了研究假设。研究发现,当企业的移动互联业务比重和IT投入强度同时处于较高水平时,这一战略组合能为企业带来高绩效,是一种合理的战略位置;另一合理的战略位置则是较低的移动互联业务比重配以较低的IT投入强度,它也明显好于一者较高、另一者较低的战略组合。以上结果表明,战略定位的关键是实现不同战略维度决策之间的合理匹配,从战略组合的角度理解行业中的战略位置。研究结论不仅有助于理解移动互联市场的竞争战略与绩效,也验证了战略群组理论在战略定位研究中的重要意义,对战略组合的分析不可简化为对各战略维度的单独分析。     

基于战略转换的战略风险研究

战略转换和战略风险都是目前国外研究的热点,从战略转换的角度,在研究战略转换的内涵特征、理论基础和动因的基础上,对战略风险产生的要素、机理进行了分析,认为战略转换的战略风险与企业环境、动力机制、学习机制、压力与惯性以及支撑条件都有密切的关系,同时也提供了战略风险防范的方法和对策.     

基于城市经营战略趋同的战略管理创新

从我国城市经营的理念阐释入手,指出我国城市经营战略的趋同问题,分析了城市经营战略趋同的动因,进而指出我国城市经营战略趋同造成了成长上限、共同悲剧以及恶性竞争等后果.在此基础上,提出应对战略趋同的战略管理创新,即发挥点优势和借助群优势二者相结合的城市经营双翼齐飞战略.     

基于战略转换的企业战略风险预警模型研究

将粗糙集理论与神经网络相结合,构建了基于战略转换的企业战略风险预警模型。该模型首先运用基于信息熵与MDV函数的模糊聚类算法进行连续属性离散化,然后采用粗糙集理论约简出重要指标体系,最后采用BP神经网络进行学习和训练,进而对检验样本的风险等级进行判断。实证分析表明：基于MDV函数与信息熵的模糊聚类算法能够有效改善离散化效果;添加动量因子的改进BP算法提高了网络学习效率,且该预警模型对检验样本的总体预测精度较高,是一种有效和实用的战略风险预警工具。     

Strategic planning for the board

Although the planning operation is regarded by some observers as unrealistic in conditions of rapid change and increasing competition, the discipline of strategic thinking and the need for strategic leadership continue to be of vital importance. The author examines the purpose of the Board of Directors and its role in the management of strategy.     

战略柔性、战略创新和管理创新之间关系的研究

 创新对于企业发展、产业转型和国家竞争优势塑造的重要作用得到理论和实践界的一致认可,但在技术竞争加剧的环境下,通过技术手段领先竞争者以维持企业增长和竞争力的可能性正在下降,非技术领域(如战略理念和管理实践)的创新正逐步成为企业竞争中更为关键的核心要素。但关于战略柔性与创新之间关系的研究往往局限在技术创新领域,大量已有研究基于动态能力理论探讨战略柔性对企业技术创新的作用,缺乏对非技术创新的探讨。        基于资源基础理论和动态能力理论,将战略柔性分为资源柔性和协调柔性两个维度,构建这两个维度与战略创新和管理创新两种非技术形式创新之间关系的整合性研究框架,探讨战略柔性对战略创新和管理创新影响的差异化路径关系、与战略创新和管理创新之间的因果路径关系,以及战略创新在战略柔性与管理创新之间的中介作用机制。以303份中国制造业企业配对调研数据为样本,采用结构方程模型,对7个假设进行实证检验。        研究结果表明,战略柔性对战略创新和管理创新均存在积极影响,战略创新能够促进管理创新的培育;战略柔性对战略创新和管理创新的作用路径存在差异,即对战略创新通过直接路径施加影响,对管理创新除直接效应外,还存在以战略创新为中介的间接影响路径,即战略创新在战略柔性与管理创新之间起部分中介作用。        通过构建战略柔性对两种非技术创新的影响框架,呼吁增加对创新研究中非技术创新的关注,促进企业内部创新系统中战略创新与管理创新两种不同层面创新之间的双向理论融合,并为提高和重塑中国制造业竞争优势提供关键的实践指导。     

企业战略的形成方式与战略规划部门的职能定位

本文从五个不同的角度,对企业战略的形成方式进行了划分,充分说明了战略形成方式的复杂性和多样性;对董事会、高层管理人员、战略规划人员、中层管理人员、具有创新精神的一线人员等,在战略形成过程中能够做出的贡献进行了分析;对企业战略规划部门的职能进行了定位,认为战略规划部门的主要责任不是制定战略,而是为战略制定工作提供一个平台,更好地发挥战略决策者和其他人的作用。     

Strategic leadership and the chief executive

This article is based on research undertaken among South African chief executives occupying the most senior operational positions in public-quoted companies. In looking at distinctive characteristics in these individuals the research attempts to bring together the activities that shape the chief executive's job and explore possible trends in their background; career route and behaviour patterns, and from the compositie picture to provide guidelines for executive development.     

Strategic planning for the armed forces

The author points out that in most countries the defence department is a very large ‘business’. He claims that, although long-range planning in the Canadian Department of National Defence may not be perfect, it does follow the stages of traditional strategic planning. He describes these stages, pointing out some innovations which he feels could be of value to other government departments in other countries as well as to large corporations in the private sector. He emphasizes the importance of feedback and describes ‘capability components’ which have been developed in the Canadian defence department to replace the traditional thinking in terms of ‘Army, Navy, Air Force’. Each capability component focuses on the required output/result and has a sponsor who is responsible for developing plans for the long-term ‘state of health’ of his capability component. Overall, the author makes a strong case for forward-looking and results-oriented strategic planning.     

Strategic control at the CEO level

This study of 108 corporations is intended to identify and validate those strategic control factors that contribute directly to the success of strategic decisions made at the level of the CEO which are subsequently implemented throughout the organization. In direct response to a comprehensive questionaire, 61 CEOs rated nine strategic control factors. Only the ratings of CEOs were accepted and processed in this study. Their ratings revealed areas of obvious strength and correctable weakness in their perceptions of strategic control within their respective organizations. These ratings tended to validate a conceptual process model of strategic control.     

Signaling the Strategic Value of Knowledge

Firms competing primarily on knowledge resources face problems in informing relevant external stakeholders about the value of that knowledge without losing its value. This knowledge may be transferred to stakeholders only at great expense, or that transfer of knowledge to stakeholders may simultaneously promote its transfer to competitors. By conceptualizing firms and the environments within which they compete to differ in levels of uncertainty, this paper develops a framework to examine signaling mechanisms firms can use to effectively signal the value of their knowledge to two key stakeholder groups, the capital and labor markets, while avoiding associated transfer problems.     

Limited Rationality and Strategic Interaction: The Impact of the Strategic Environment on Nominal Inertia

Much evidence suggests that people are heterogeneous with regard to their abilities to make rational, forward‐looking decisions. This raises the question as to when the rational types are decisive for aggregate outcomes and when the boundedly rational types shape aggregate results. We examine this question in the context of a long‐standing and important economic problem: the adjustment of nominal prices after an anticipated monetary shock. Our experiments suggest that two types of bounded rationality—money illusion and anchoring—are important behavioral forces behind nominal inertia. However, depending on the strategic environment, bounded rationality has vastly different effects on aggregate price adjustment. If agents' actions are strategic substitutes, adjustment to the new equilibrium is extremely quick, whereas under strategic complementarity, adjustment is both very slow and associated with relatively large real effects. This adjustment difference is driven by price expectations, which are very flexible and forward‐looking under substitutability but adaptive and sticky under complementarity. Moreover, subjects' expectations are also considerably more rational under substitutability.     

Strategic planning--the role of the chief executive

Failure to see strategic planning as a process and ineffective CEO involvement are two reasons for failures in strategic planning. This article outlines the stages in an effective strategic planning process, discusses the appropriate role or roles for the CEO or leader in each stage, and defines the expected results from effective strategic planning.     

Strategic issues for the Trustee Savings Banks

Since the mid-1970s, the TSB Group has changed from a group of 73 savings banks offering basic deposit services to one of the U.K.'s leading financial service groups. The object of this article is to outline the background to the U.K. savings bank movement, the TSB Group's strategy in the period 1976–1984 and current business issues. The article is divided into four sections: The Background to the U.K. Savings Bank Movement; TSB in Transition 1976–1984; The TSB Group Reconstruction; TSB in the 1980s and 1990s.     

Strategic planning in the Thomas Cook group

Until Midland Bank took control of Thomas Cook in 1972 there were only rudimentary accounts in the Group and no systematic attempt to budget its operations. An immediate priority was to establish an effective finance function and the first planning activities of the Group were centred in this area. At the beginning of the annual planning cycle a Group Strategic Conference at Board level and a Group Planning Conference determine strategies and many territories follow this latter meeting with their own regional conference to discuss Plans, which are finalized and consolidated by computer into the Group Plan, to be ready for the start of the financial year.     

Towards Integrating Emotions into Strategic Management Research: Trait Affect and Perceptions of the Strategic Environment

This paper describes an empirical investigation of the associations between trait negative affect and perceptions of the strategic environment. Data were collected from two samples of managers undertaking a distance learning MBA course (n = 59, n = 272). In the smaller sample, significant correlations were found between negative affectivity and perceptions of poor organizational performance and industry complexity. These results were replicated in the larger sample, after controlling for other variables. Additionally, negative affectivity was found to be related to perceived industry growth, and marginally related to perceived industry competitiveness.     

战略变化的特征研究

战略变化往往被研究者和管理者当作帮助组织在"超竞争环境"中获得持续生存的根本动力之一.本文对战略变化的可能性、方向、幅度、速度等特征进行了研究,并指出对战略变化特征的研究需要多特征的综合研究,才能更好地揭示企业战略变化的过程.     

Strategic planning at the Copenhagen Telephone Company

The implementation of strategic planning in the Copenhagen Telephone Company is described in chronological order. The concept of strategic planning differs from one type of business to another and opinions may vary about the practical value of it. The Copenhagen Telephone Company found it necessary and useful.     

远离“霍布森选择”陷阱

决策的重点是选择,选择的基础是比较,比较的关键是判断,判断的前提是创新思维,创新思维的条件是打开思维空间。只有打开思维空间,才能避免领导者的决策掉入＂霍布森选择＂的陷阱。