Strategic Management Strategic Control in Corporate Governance

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Presentation transcript:

Strategic Management Strategic Control in Corporate Governance 9 Strategic Management Strategic Control in Corporate Governance

Chapter 9 Objectives The value of effective strategic control systems in strategy implementation The key difference between “traditional” and “contemporary” control systems The imperative for “contemporary” control systems in today’s complex and rapidly changing competitive and general environments

Chapter 9 Objectives The benefits of having the proper balance among the three levers of behavioral control: culture, rewards and incentives, and boundaries Why there is no “one best way” to design strategic control systems and the important contingent roles of business- and corporate-level strategies

Chapter 9 Objectives The three key participants in corporate governance: shareholders, management (led by the CEO), and the board of directors The role of corporate governance mechanisms in ensuring that the interests of managers are aligned with those of shareholders

Ensuring Informational Control: Responding Effectively to Environmental Change A traditional approach to strategic control A contemporary approach to strategic control

Attaining Behavioral Control: Balancing Culture, Rewards, and Boundaries Building a strong and effective culture The role of culture Motivating with rewards and incentives The potential downside Creating effective reward and incentive programs

Attaining Behavioral Control: Balancing Culture, Rewards, and Boundaries Setting boundaries and constraints Focusing efforts on strategic priorities Providing short-term objectives and action plans Improving operational efficiency and effectiveness Behavioral control in organizations: situational factors Evolving from boundaries to rewards and culture

Linking Strategic Control to Business-Level and Corporate-Level Strategies Business-level strategy and strategic control Overall cost leadership Differentiation Corporate-level strategy and strategic control

The Role of Corporate Governance The modern corporation: the separation of owners (shareholders) and management Governance mechanisms: aligning the interests of owners and managers

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