English, Article, Journal or magazine article edition: Corporate strategy in turbulent environments: Key roles of the corporate level Caldart, Adrian A.; Ricart, Joan E.

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Bookmark: http://trove.nla.gov.au/version/170330
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Corporate strategy in turbulent environments: Key roles of the corporate level
Author
  • Caldart, Adrian A.
  • Ricart, Joan E.
Physical Description
  • preprint
Notes
  • This paper analyzes the evolution during the period 1986-2002 of the corporate strategy of Lujan, a highly successful car components manufacturer headquartered in Spain, as a way to explore how the corporate level influences the successful evolution of a company exposed to a "turbulent" environment over a long period. We find that the corporate level plays three key roles. First, it drives a firm's evolution by developing a cognitive representation of the firm's competitive landscape. Second, it paces the company's evolution by alternately shifting the balance of organizational initiatives between static efficiency-based "local search" strategies, chosen in times of stability or economic slowdown, and dynamic efficiency-based "long jump" strategies, adopted during periods of major environmental turbulence. Long-jump corporate strategies, carried out through limited downside strategic initiatives such as real options and strategic alliances ("off-line long-jumps"), are particularly frequent in these circumstances. The third role consists of developing an organizational architecture that frames the self-organized coordination of the different business divisions. The Lujan story clearly illustrates the important role of corporate strategy in a firm that must undergo radical transitions as a result of major environmental changes.
  • corporate strategy; turbulent environments; complexity theory; car components;
  • RePEc:ebg:iesewp:d-0623
Language
  • English
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