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Adaptive strategies in response to the economic crisis
Dietmar Sternad, 2012, original scientific article

Abstract: This study builds on prior research on culture-specific differences in strategic decision-making and strategic issue analysis, and extends it to the field of strategic crisis adaptation. Taking an upper echelons perspective, it is investigated whether the cultural dimension of uncertainty avoidance had an effect on strategic directions that managers chose in response to the 20082009 global financial and economic crisis. Building on a framework of strategic crisis responses and a quantitative survey conducted among 257 managers in Austria and Slovenia, the findings suggest that strategic issue interpretations of the economic crisis as well as country differences influence whether firms are using externally versus internally-directed strategic responses, and pro-active versus retrenchment strategies. The differences in strategy deployment between the two countries, however, could not be consistently traced to differences in the cultural dimension of uncertainty avoidance, thus suggesting that other country-specific factors like institutional or social differences also play an important role.
Found in: osebi
Keywords: prilagajanje, kriza, negotovost, Avstrija, Slovenija
Published: 15.10.2013; Views: 923; Downloads: 25
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Managerial long-term responsibility in family-controlled firms
Dietmar Sternad, 2013, original scientific article

Abstract: Evidence suggests that long-term orientation (lto) as a dominant strategic logic contributes to the sustainable performance of family-controlled firms (fcfs). Combining a review of the literature on lto with stewardship theory and upper echelons theory reasoning, this article presents a typology of managerial responsibility and introduces the concept of long-term responsibility as a managerial characteristic constituting a major driving force behind creating lto. The antecedents of long-term responsibility under family firm-specific conditions (stemming from the family system, the governance system, and family-firm managers personal characteristics) are also identified and presented in an integrated model. The paper contributes to a more comprehensive understanding of intertemporal choice in fcfs and explains why they tend to be more long-term oriented than other types of firms.
Found in: osebi
Keywords: managerji, odgovornost, oskrbništvo, družinska podjetja
Published: 15.10.2013; Views: 1260; Downloads: 24
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