Cognitive change, strategic action, and organizational renewal

Article Abstract:

The renewal or decline of any organization depends largely on how well managers can modify their mental models to fit the environment. Managers who are able to make timely adjustments to their mental models to incorporate environmental changes are steering their organizations toward renewal, while business leaders who are unable to adapt to and take advantage of environmental changes are headed for organizational decline. The relationship between changes in mental models and changes in organizational action was examined using data from two railroad companies, the successful Chicago and North Western and the bankrupt Chicago, Rock Island and Pacific, gathered from 1949 to 1973. Results support the idea that organizational renewal comes from the ability of top managers to restructure their mental models to incorporate new areas of opportunities and technological innovations.

Models, Planning, Causes of, Executives, Organizational change, Business success, Business failures

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Cultural variations in strategic issue interpretation: relating cultural uncertainty avoidance to controllability in discrimination threat and opportunity

Article Abstract:

A survey of 267 American and international respondents was conducted to investigate the sensitivity of issue attributes that discriminate between threat and opportunity. It was found that the cultural value of Uncertainty Avoidance (UA) had a significant effect: Compared to low UA cultures, individuals from high UA cultures were significantly more sensitive to controllability in perceiving strategic issues.

Management dynamics, Management, Surveys, Company business management, Rational expectations (Economics), Comparative advantage (Commerce), Comparative advantage

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A systematic assessment of the empirical support for transaction cost economics

Article Abstract:

Attempts were made to provide some substance to the long-standing debate over the empirical status of TCE (Transaction Cost Economics). Stock of large body extant research was taken to provide a systematic assessment of empirical evidence.

Evaluation, Economics, Study and teaching, Economic theory

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