Abstract: It has been frequently argued that organizations satisfice in their strategic decision-making. However, the evidence around aspirations is not only sparse, but it suffers from one of the fundamental criterion for a strong test of theory as mentioned by Stinchcombe (1968: 20) – it does not “consider the alternative theories which might be explanations” for the observed phenomena. We contribute in two ways. First, we illuminate the theoretical overlap between satisficing and maximizing behavior, and specify how empirical attempts have neglected to address it. Second, we demonstrate the contexts where maximizing and satisficing strategies give similar predictions, thus highlighting how aspirations might be diagnosed, when in fact, maximizing behavior is present. To accomplish this second objective we use simulation.

Abstract: Employee Stock Ownership (ESO) schemes have been widely discussed in the financial literature as a solution to agency problems. In dynamic industries high employee participation in the strategy process increases company performance. This study analysis the effect of ESO on participation in the strategy process defined as participation in decisions or distributed decision authority. The paper also analysis if companies in dynamic industries are more likely to implement ESO and if the effect of ESO on company performance is increased and if this effect is increased concurrently with a higher level of participation in the scheme. Most research on ESO has been done on listed companies. This paper analyze if there is any difference between the participation and performance effect between listed and unlisted companies.

Abstract: Upper echelons theory describes that executives are influenced by their personalities in strategic decision- making. However there has been demand for more direct measures of strategic decision makers’ personalities. In this paper, profiling dimensions for strategic decision-makers personalities are defined. Our central argument is that the grouping of the dimensions inherent in core self evaluation and narcissism combined with sensitivity to criticism capture those elements of personality especially relevant in strategic decision-making behavior of top executives. We contribute to research on strategic decision-making by defining the personality of top executive decision-makers as (1) self esteem, (2) generalized self efficacy, (3) emotional stability, (4) locus of control, (5) exploitativeness/entitlement, (6) leadership/authority, (7) superiority/arrogance, (8) self absorptions/self admiration and (9) sensitivity to criticism.

Abstract: Effective strategy consists of choosing to do the right things. Strategic execution results from executing the right set of strategic projects in the right way. This is the realm of Project Portfolio Management (PPM). Senior managers usually participate in PPM governance committees, where they make decisions around the planning, prioritization, selection and management of the corporate project portfolio. This paper presents a field study of senior managers’ conceptions of their PPM work in financial services multinational companies. The interpretive research approach known as phenomenography was applied to the study of their conceptions. Analysis of the interviews revealed different conceptions of PPM work, each with multiple attributes. Thus far, the conclusions point to the existence of a hierarchy of conceptions in PPM work.