Aligning Strategy, Corporate Governance, and Resource Allocation in Turbulent Environments
The firm’s competitive performance rests on a tripod of strategy, governance, and resource allocation, now facing unprecedented environmental turbulence and necessitating novel and integrative recipes for successful adaptation.
The strategic management field—from its inception—has recognized the close linkages among strategy (domain choices and ways to compete), corporate governance (including corporate finance), and resource allocation, with each leg of this tripod involving decisions on financial, human, and knowledge capital.
Heightened turbulence in the global economy has created new challenges for organizations attempting to align purposefully and efficiently their strategy, governance, and resource allocation. They must systematically recombine resources and consider tools such as buffering, modularizing, and strategic options thinking. Effectively aligning changes in each of the tripod dimensions is critical for achieving satisfactory or superior performance outcomes. The SMS 43rd Annual Conference calls for research contributions that support novel thinking about the tripod of strategy, governance, and resource allocation in an era of great environmental turbulence.
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