- Season 1937 - 1938 (x)
- Bailey, Bernard C. (x)
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Show moreHow do boards make strategic decisions? Semi-structured interviews with twenty eight directors of small to medium size publicly traded U.S. companies in the high technology sector were conducted in order to gain insights into strategic decision-making at the board level. We identified six characteristics that distinguish two divergent views about strategic decision-making. These characteristics include the role of the board chair, the boardroom climate, the board’s shared vision and goals, the board’s agency primacy, the board’s process for decision closure and the board’s level of involvement in the strategic planning process.
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Show morePrior studies of board effectiveness have primarily focused on the relationships between board structure and composition relative to the performance of the firm. To better understand the role of board members in strategic decision-making it may be helpful to gain deeper insights into the processes and behaviors that are actually utilized during strategic decision-making both within and outside the board room. Of particular interest to scholars are the specific processes that boards use to generate quality strategic decisions. We propose research to examine the conditions under which diverse board members’ individual biases, backgrounds and behaviors impact the collective strategic decision-making processes associated with strategy formation within the board environment. Semi-structured interviews of corporate directors and top management teams (TMTs) of mid-size public technology corporations, will provide insight into the question, how do individual board members’ attitudes towards vigilance, their proclivity towards monitoring or mediation, and their focus on long term or short term performance results effect quality strategic decision-making at the board level? This paper is primarily informed by agency, institutional and strategic choice theoretical perspectives.
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