Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-cd9895bd7-mkpzs Total loading time: 0 Render date: 2024-12-25T19:29:02.043Z Has data issue: false hasContentIssue false
Series:   Elements in Corporate Governance

The Role of the Board in Corporate Purpose and Strategy

Published online by Cambridge University Press:  08 September 2022

Robert Bood ,
Hans van Ees  and
Theo Postma
Robert Bood
Affiliation:
Universiteit van Tilburg, The Netherlands
Hans van Ees
Affiliation:
Rijksuniversiteit Groningen, The Netherlands
Theo Postma
Affiliation:
Rijksuniversiteit Groningen, The Netherlands

Summary

This Element is an attempt to contribute to the extant literature on boards and corporate governance by exploring in detail the active involvement of the board in the purpose and strategy of the corporation in order to cope with a complex and uncertain environment.
Get access

Keywords

corporate governanceboard of directorscorporate strategycorporate purposeuncertainty and complexity
Type
Element
Information
Series: Elements in Corporate Governance
Online ISBN: 9781009221092
Publisher: Cambridge University Press
Print publication: 15 September 2022

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Ackoff, R. L. (1970). A Concept of Corporate Planning, New York: Wiley.Google Scholar
Adner, R. & Kapoor, R. (2010). Value creation in innovation ecosystems: How the structure of technological interdependence affects firm performance in new technology generations. Strategic Management Journal, 31(3), 306–33.Google Scholar
Aguilera, R. V. & Jackson, G. (2010). Comparative and international corporate governance. The Academy of Management Annals, 4(1), 485–556.Google Scholar
Aguilera, R. V., Rupp, D. E., Williams, C. A. & Ganapathi, J. (2007), Putting the S back in corporate social responsibility: A multi-level theory of social change in organizations. Academy of Management Review, 32(3), 836–63.Google Scholar
Aldrich, H. E. & Ruef, M. (2006). Organizations Evolving, London: Sage.Google Scholar
Altman, E. J. & Tushman, M. L. (2017). Platforms, Open/User Innovation, and Ecosystems: A Strategic Leadership Perspective, Harvard Business School Organizational Behavior Unit, Working Paper No. 17–076.Google Scholar
Andrews, K. R. ([1971] 1980). The Concept of Corporate Strategy, Homewood, IL: Irwin.Google Scholar
Ansoff, H. I. (1965). Corporate Strategy, New York: McGraw-Hill.Google Scholar
Appleyard, M. M. & Chesbrough, H. W. (2017). The dynamics of open strategy: From adoption to reversion. Long Range Planning, 50(3), 310–21.Google Scholar
Argenti, J. (1980). Practical Corporate Planning, London: George Allen & Unwin.Google Scholar
Argote, L. & Greve, H. R. (2007). A Behavioral Theory of the Firm – 40 years and counting: Introduction and impact. Organization Science, 18(3), 337–49.CrossRefGoogle Scholar
Arthur, W. B. (1991). Complexity and the Economy, Oxford: Oxford University Press.Google Scholar
Arthur, W. B. (1999). Complexity and the economy. Science, 284(5411), 107–9.Google Scholar
Arthurs, J. D. & Busenitz, L. W. (2003). The boundaries and limitations of agency theory and stewardship theory in the venture capitalist/entrepreneur relationship. Entrepreneurship Theory and Practice, 28(2), 145–62.CrossRefGoogle Scholar
Autio, E. & Thomas, L. D. W. (2014). Innovation ecosystems: Implications for innovation management. In Dodgson, M., Philips, N. and Gann, D. M., eds., The Oxford Handbook of Innovation Management. Oxford: Oxford University Press, 204–28.Google Scholar
Bacq, S. & Aguilera, R. V. (2021). Stakeholder governance for responsible innovation: A theory of value creation, appropriation, and distribution. Journal of Management Studies, 59(1), 29–60.Google Scholar
Bailey, B. C. & Peck, S. I. (2013). Boardroom strategic decision-making style: Understanding the antecedents. Corporate Governance: An International Review, 21(2), 131–46.Google Scholar
Bartlett, C. A. & Ghoshal, S. (1994). Changing the role of top management: Beyond purpose to strategy. Harvard Business Review, 72(6), 79–88.Google Scholar
Becht., M., Bolton, P. & Röell, A. (2002). Corporate Governance and Control, National Bureau of Economic Research, Working Paper 9371.Google Scholar
Benkler, Y. & Nissenbaum, H. (2006). Commons-based peer production and virtue. Journal of Political Philosophy, 14(4), 394–419.Google Scholar
Birkinshaw, J. (2017). Reflections on open strategy. Long Range Planning, 50(1), 423–6.CrossRefGoogle Scholar
Blair, M. M. (2004). Ownership and control: Rethinking corporate governance for the twenty-first century. In Clarke, T., ed., Theories of Corporate Governance: The Philosophical Foundations of Corporate Governance. London: Routledge, pp. 174–88.Google Scholar
Blair, M. M. & Stout, L. A. (1999). A team production theory of corporate law. Virginia Law Review, 85(2), 247–328.Google Scholar
Boivie, S., Bednar, M. K., Aguilera, R. V. & Andrus, J. L. (2016). Are boards designed to fail? The implausibility of effective board monitoring. Academy of Management Annals, 10(1), 319–407.CrossRefGoogle Scholar
Bridoux, F. & Stoelhorst, J. W. (2014). Microfoundations for stakeholder theory: Managing stakeholders with heterogeneous motives. Strategic Management Journal, 35(1), 107–25.Google Scholar
Bridoux, F. & Stoelhorst, J. W. (2016). Stakeholder relationships and social welfare: A behavioral theory of contributions to joint value creation. Academy of Management Review, 41(2), 229–51.Google Scholar
Roundtable, Business (2018, 2019). Statement on the Purpose of the Corporation. Retrieved from www.businessroundtable.org.Google Scholar
Chaffee, E. E. (1985). Three models of strategy. The Academy of Management Review, 10(1), 89–98.Google Scholar
Chandler, A. D. (1962). Strategy and Structure: Chapters in the History of the Industrial Enterprise, Cambridge, MA: MIT Press.Google Scholar
Chesbrough, H. W. & Appleyard, M. M. (2006). Open innovation and strategy. California Management Review, 50(1), 57–76.Google Scholar
Christensen, C. M. (1997). The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail, Boston, MA: Harvard Business School Press.Google Scholar
Collins, J. C. & Porras, J. I. (1994). Built to Last: Successful Habits of Visionary Companies, New York: Harper Business.Google Scholar
Cyert, R. M. (1988). The Economic Theory of Organization and the Firm, New York: Harvester-Wheatsheaf.Google Scholar
Cyert, R. M. & March, J. G. (1959). Satisfactory profits as a guide to firm behavior. The Quarterly Journal of Economics, 73(4), 684–5.Google Scholar
Cyert, R. M. & March, J. G. (1963). A Behavioral Theory of the Firm, Englewood Cliffs, NJ: Prentice Hall.Google Scholar
Dahlmann, F. & Brammer, S. (2011). Exploring and explaining patterns of adaptation and selection in corporate environmental strategy in the USA. Organization Studies, 32(4), 527–53.Google Scholar
Davis, G. (2016). Can an economy survive without corporations? Technology and robust organizational alternatives. Academy of Management Perspectives, 30(2), 129–40.Google Scholar
Davis, J. P., Eisenhardt, K. M. & Bingham, C. B. (2009). Optimal structure, market dynamism, and the strategy of the simple rules. Administrative Science Quarterly, 54(3), 413–52.Google Scholar
Davis, J. P., Schoorman, F. D. & Donaldson, L. (1997). Toward a stewardship theory of management. Academy of Management Review, 22(1), 20–47.Google Scholar
Dew, N., Read, S., Sarasvathy, S. D. & Wiltbank, R. (2008). Outlines of a behavioral theory of the entrepreneurial firm. Journal of Economic Behavior and Organization, 66(1), 37–59.Google Scholar
Donaldson, T. & Davis, J. H. (1991). Stewardship theory or agency theory: CEO governance and shareholder returns. Australian Journal of Management, 16(1), 49–64.Google Scholar
Drucker, P. (1954). The Practice of Management, New York: HarperCollins Publishers.Google Scholar
Duncan, R. B. (1972). Characteristics of organizational environments and perceived environmental uncertainty. Administrative Science Quarterly, 17(3), 313–27.Google Scholar
Durand, R., Grant, R. M. & Madsen, T. L. (2017). The expanding domain of strategic management research and the quest for integration. Strategic Management Journal, 38(1), 4–16.Google Scholar
Fama, E. F. & Jensen, M. C. (1983). Separation of ownership and control. The Journal of Law and Economics, 26(2), 301–25.CrossRefGoogle Scholar
Forbes, D. P. & Milliken, F. (1999). Cognition and corporate governance: Understanding boards of directors as strategic decision-making groups. Academy of Management Review, 24(2), 489–505.Google Scholar
Foss., N. J. (2001). Bounded rationality in the economics of organization: Present use and (some) future possibilities. Journal of Management and Governance, 5(3/4), 401–25.Google Scholar
Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach, Boston, MA: Pitman.Google Scholar
Freeman, R. E., Phillips, R. and Sisodia, R. (2020). Tensions in stakeholder theory. Business and Society, 59(2), 213–31.CrossRefGoogle Scholar
Galbraith, J. R. (1973). Designing Complex Organizations, Reading, MA: Addison-Wesley.Google Scholar
Gartenberg, C., Prat, A. & Serfeim, G. (2019). Corporate purpose and financial performance. Organization Science, 30(1), 1–18.Google Scholar
Golden, B. R. & Zajac, E. J. (2001). When will boards influence strategic change? Inclination × power = strategic change. Strategic Management Journal, 22(12), 1087–111.Google Scholar
Gond, J.-P., O’Sullivan, N., Slager, R., Homanen, M. & Mosony, S. (2018). How ESG engagement creates value for investors and companies. Principles for Responsive Investment, United Nations Global Compact.Google Scholar
Goold, M. & Campbell, A. (1987). Strategies and Styles: The Role of the Center in Managing Diversified Corporations, Oxford: Blackwell.Google Scholar
Goold, M., Campbell, A. & Alexander, M. (1994). Corporate-Level Strategy: Creating Value in the Multi-Business Company, New York: Wiley.Google Scholar
Gordon, J. R. (1993). A Diagnostic Approach to Organizational Behavior, 4th ed., Needham Heights, MA: Allyn and Bacon.Google Scholar
Grandori, A. (2016). Knowledge intensive work and the (re)emergence of democratic governance. Academy of Management Perspectives, 30(2), 167–81.CrossRefGoogle Scholar
Guillen, M. F. & Ontiveros, E. (2016). Global Turning Points: Understanding the Challenges for Business in the 21st Century, Cambridge: Cambridge University Press.Google Scholar
Hambrick, D. C. & Fredrickson, J. W. (2001). Are you sure you have a strategy? Academy of Management Executive, 15(4), 48–59.Google Scholar
Hamel, G. & Prahalad, C. K. (1989). Strategic intent. Harvard Business Review, 67(3), 63–76.Google Scholar
Harrison, J. S. & St John, C. H. (1996). Managing and partnering with external stakeholders. Academy of Management Executive, 10(2), 46–60.Google Scholar
Harrison, J. S. & Wicks, A. C. (2013). Stakeholder theory, value, and firm performance. Business Ethics Quarterly, 23(1), 97–124.Google Scholar
Haynes, K. T. & Hillman, A. (2010). The effect of board capital and CEO power on strategic change. Strategic Management Journal, 31(11), 1145–63.Google Scholar
Helfat, C. E. & Teece, D. J. (1987). Vertical integration and risk reduction. Journal of Law and Economics, 3(1), 47–67.Google Scholar
Henderson, B. D. (1979). Henderson on Corporate Strategy, Cambridge, MA: Abt Books.Google Scholar
Hendry, J. (2002). The principals’ other problems: Honest incompetence and management contracts. Academy of Management Review, 27(1), 98–113.Google Scholar
Hendry, J. (2005). Beyond self-interest: Agency theory and the board in a satisficing world. British Journal of Management, 16(1), S55–S63.Google Scholar
Hollensbe, E., Wookey, C., Hickey, L., George, G. & Nichols, C. V. (2014). Organizations with purpose. Academy of Management Journal, 57(5), 1227–34.Google Scholar
Hoppman, J., Naegele, F. & Girod, B. (2019). Boards as a source of inertia: Examining the internal challenges and dynamics of boards and directors in times of environmental discontinuities. Academy of Management Journal, 62(2), 437–68.Google Scholar
Huber, C., Leape, S., Mark, L. & Simpson, B. (2020). The board’s role in embedding corporate purpose: Five actions directors can take today. Downloaded November 2020 from McKinsey & Company: www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-boards-role-in-embedding-corporate-purpose-five-actions-directors-can-take-today.Google Scholar
Huse, M. (2007). Boards, Governance and Value Creation: The Human Side of Corporate Governance, Cambridge: Cambridge University Press.Google Scholar
Huse, M. (2009). The Value Creating Board, New York: Routledge.Google Scholar
Huse, M. & Gabrielsson, J. (2012). Board leadership and value creation: An extended team production approach. In Clarke, T. and Branson, D., eds., Clarke, T. and Branson, D., eds.,Handbook of Corporate Governance. London & Thousand Oaks, CA:: Sage, pp. 233–52.Google Scholar
Huse, M. & Rindova, V. P. (2001). Stakeholders’ expectations of board roles: The case of subsidiary boards. Journal of Management and Governance, 5(2), 153–78.Google Scholar
Ingley, C. B. & Van der Walt, N. T. (2001). The strategic board: The changing role of directors in developing and monitoring corporate capability. Corporate Governance, 9(3), 174–85.Google Scholar
Jarzabkowski, P. (2007). An activity-theory approach to strategy as practice. In Golsorkhi, D., Rouleau, L., Seidl, D. and Vaara, E., eds., Cambridge Handbook of Strategy as Practice. Cambridge: Cambridge University Press, pp. 127–40.Google Scholar
Jarzabkowski, P., Balogun, J. & Seidl, B. (2007). Strategizing: The challenges of a practice perspective. Human Relations, 60(1), 5–27.CrossRefGoogle Scholar
Jarzabkowski, P. & Spee, A. P. (2009). Strategy-as-practice: A review and future directions for the field. International Journal of Management Reviews, 11(1), 69–95.Google Scholar
Jarzabowski, P. & Whittington, R. (2008). Hard to disagree, mostly. Strategic Organization, 6(1), 101–6.Google Scholar
Jensen, M. C. & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency cost and ownership structure. Journal of Financial Economics, 3(4), 305–60.CrossRefGoogle Scholar
Jensen, M. C. & Zajac, E. J. (2004). Corporate elites and corporate strategy: how demographic preferences and structural position shape the scope of the firm. Strategic Management Journal, 25(6), 507–24.Google Scholar
Johnson, G. (1987). Strategic Change and the Management Process, Oxford: Blackwell.Google Scholar
Johnson, G., Melin, L. & Whittington, R. (2003). Micro strategy and strategizing: Towards an activity-based view. Journal of Management Studies, 40(1), 3–22.Google Scholar
Johnson, J. L., Daily, C. M. & Ellstrand, A. E. (1996). Boards of directors: A review and research agenda. Journal of Management, 22(3), 409–38.Google Scholar
Kaplan, R. S. & Norton, D. P. (2004). Strategy Maps: Converting Intangible Assets into Tangible Outcomes, Boston, MA: Harvard Business School Press.Google Scholar
Kaufman, A. & Englander, E. (2011). Behavioral economics, federalism, and the triumph of stakeholder theory, Journal of Business Ethics, 102(3), 421–38.Google Scholar
Kendry, K. & Kiel, G. C. (2004). The role of the board in firm strategy: Integrating agency and organizational control perspectives. Corporate Governance, 12(4), 500–20.Google Scholar
Klein, P. G., Mahoney, J. T., McGahan, A. M. & Pitelis, C. N. (2012). Who is in charge? A property rights perspective on stakeholder governance. Strategic Organization, 10(3), 304–15.Google Scholar
Klein, P. G., Mahoney, J. T., McGahan, A. M. & Pitelis, C. N. (2019). Organizational governance adaptation: Who is in, who is out, and who gets what. Academy of Management Review, 44(1), 6–27.Google Scholar
Knight, F. H. (1921). Risk, Uncertainty and Profit, Boston, MA: Houghton Mifflin.Google Scholar
Koontz, H. & O’Donnell, C. (1959). Principles of Management: An Analysis of Managerial Functions, 2nd ed., New York: McGraw Hill.Google Scholar
Koopmans, T. C. (1957). Three Essays on the State of Economic Science, New York: McGraw Hill.Google Scholar
Levillain, K. & Segrestin, B. (2019). From primacy to purpose commitment: How emerging profit-with-purpose corporations open new corporate governance avenues. European Management Journal, 37(5), 637–47.Google Scholar
Levinthal, D. & March, J. G. (1993). The myopia of learning. Strategic Management Journal, 14(2), 95–112.Google Scholar
Lindblom, C. E. (1959). The science of muddling through. Public Administration Review, 19(2), 79–88.Google Scholar
Luoma-Aho, V. & Vos, M. (2010). Towards a more dynamic stakeholder model: acknowledging multiple issue arenas. Corporate Communications: An International Journal, 15(3), 315–31.Google Scholar
Mace, M. (1971). Directors: Myth and Reality, Boston, MA: Harvard Business School Press.Google Scholar
March, J. G. (1962). The business as a political coalition. Journal of Politics, 24(4), 662–78.Google Scholar
March, J. G. (1991). Exploration and exploitation in organizational learning. Organization Science, 2(1), 71–87.Google Scholar
March, J. G. (1994). A Primer on Decision Making: How Decisions Happen, New York: Free Press.Google Scholar
March, J. G. & Simon, H. A. (1958). Organizations, New York: Wiley.Google Scholar
Mason, R. O. & Mitroff, I. (1981). Challenging Strategic Planning Assumptions, New York: Wiley.Google Scholar
Matten, D. & Crane, A. (2005). Corporate citizenship: Toward an extended theoretical conceptualization. Academy of Management Review, 30(1), 166–79.Google Scholar
Mayer, C. (2016). Reinventing the corporation. Journal of the British Academy, 4, 53–72.Google Scholar
Mayer, C., Wright, M. & Phan, P. (2017). Management research and the future of the corporation: A new agenda. Academy of Management Perspectives, 31(3), 179–82.Google Scholar
McGrath, R. G. & Macmillan, I. C. (1995). Discovery driven planning. Harvard Business Review, 73(4), 44–54.Google Scholar
McKinsey (2016). Toward a value-creating board. Downloaded January 2021 from McKinsey & Company: www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/toward-a-value-creating-board.Google Scholar
McNulty, T. & Nordberg, D. (2016). Ownership, activism and engagement: Institutional investors as active owners. Corporate Governance: An international Review, 24(3), 346–58.Google Scholar
McNulty, T. & Pettigrew, A. (1999). Strategists on the board. Organization Studies, 20(1), 47–74.Google Scholar
McNulty, T., Zattoni, A. & Douglas, T. (2013). Developing corporate governance research through qualitative methods: A review of previous studies. Corporate Governance: An International Review, 21(2), 183–98.Google Scholar
Miller, D. & Friesen, P. H. (1983). Strategy-making and environment, the third link. Strategic Management Journal, 4(3), 221–35.Google Scholar
Milliken, F. J. (1987). Three types of perceived uncertainty about the environment: State, effect, and response uncertainty. The Academy of Management Review, 12(1), 133–43.Google Scholar
Mintzberg, H. (1978). Patterns in strategy formation. Management Science, 24(9), 937–48.Google Scholar
Mintzberg, H. (1987). Crafting strategy. Harvard Business Review, 65(4), 66–75.Google Scholar
Mintzberg, H. (1990). The design school: Reconsidering the basic premises of strategic management. Strategic Management Journal, 11(3), 171–95.Google Scholar
Mintzberg, H. (1994). The Rise and Fall of Strategic Planning, New York: Free Press.Google Scholar
Mintzberg, H., Ahlstrand, B. W. & Lampel, J. (2009). Strategy Safari: Your Complete Guide Through the Wilds of Strategic Management, Harlow: Pearson Education.Google Scholar
Mintzberg, H. & Waters, J. A. (1985). Of strategies, deliberate and emergent. Strategic Management Journal, 6(3), 257–72.Google Scholar
Monks, R. A. G. & Minow, N. (2004). Corporate Governance, Chichester: Wiley.Google Scholar
Nelson, R. R. & Winter, S. G. (1982). An Evolutionary Theory of Economic Change, Boston, MA: Harvard University Press.Google Scholar
Ocasio, W. (1999). Institutionalized action and corporate governance: The reliance on rules of CEO succession. Administrative Science Quarterly, 44(2), 384–416.Google Scholar
Palazzo, G. & Scherer, A. G. (2008). Corporate social responsibility, democracy, and the politicization of the corporation. Academy of Management Review, 33(3), 773–5.Google Scholar
Patvardhan, S. & Ramachandran, J. (2020). Shaping the future: Strategy making as an artificial evolution. Organization Science, 31(3), 671–97.Google Scholar
Pearce, J. A. II (1995). A structural analysis of dominant coalitions in small banks. Strategic Management Journal, 21(6), 1075–95.Google Scholar
Pettigrew, A. M. (1985). The Awakening Giant, Oxford: Blackwell.Google Scholar
Pfeffer, J. & Salancik, G. R. (1978). The External Control of Organizations: A Resource Dependence Perspective, New York: Harper and Row.Google Scholar
Pirson, M. & Turnbull, S. (2012). Complexity theory, CSR, and corporate governance: The need for alternative governance models, Humanistic Management Research Paper 14/04.Google Scholar
Porter, M. E. (1980). Competitive Strategies: Techniques for Analyzing Industries and Competitors, New York: Free Press.Google Scholar
Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance, New York: Free Press.Google Scholar
Porter, M. E. (1996). What is strategy? Harvard Business Review, 74(6), 61–80.Google Scholar
Postma, T. J. B. M. (1989). ‘Strategische Beslissingsprocessen in Ziekenhuizen: Een Casebenadering (Strategic Decision Processes in Hospitals: A Case Approach)’, unpublished PhD thesis, University of Groningen.Google Scholar
Postma, T. J. B. M. & Bood, R. P. (2015). Behavioral governance: The role of scenario thinking in dealing with strategic uncertainty. In Das, T. K., ed., The Practice of Behavioral Strategy. Charlotte: Information Age Publishing, pp. 41–75.Google Scholar
Pugliese, A., Bezemer, P., Zattoni, A., Huse, M., Van den Bosch, H. & Volberda, H. W. (2009). Boards of directors’ contribution to strategy: A literature review and research agenda. Corporate Governance, An International Review, 17(3), 292–306.Google Scholar
Pugliese, A., Minichilli, A. & Zattoni, A. (2014). Integrating agency and resource dependency theory: Firm profitability, industry regulation & board task performance. Journal of Business Research, 67(6), 1189–200.Google Scholar
Quinn, J. B. (1980). Strategies for Change: Logical Incrementalism, Homewood, IL: Irwin.Google Scholar
Raisch, S. & Tushman, M. L. (2016). Growing new corporate businesses: From initiation to graduation. Organization Science, 27(5), 1237–57.Google Scholar
Rajan, R. G. & Zingales, L. (1998). Power in a theory of the firm. The Quarterly Journal of Economics, 113(2), 387–432.Google Scholar
Ravasi, D. & Zattoni, A. (2006). Exploring the political side of board involvement in strategy: A study of mixed-ownership institutions. Journal of Management Studies, 43(8), 1671–702.Google Scholar
Raworth, K. (2017). Doughnut Economics: Seven Ways to Think like a 21st Century Economist, White River Junction, VT: Chelsea Green Publishing.Google Scholar
Regnér, P. (2003). Strategy creation in the periphery: Inductive versus deductive strategy making. Journal of Management Studies, 40(1), 57–82.Google Scholar
Rindova, V.P. (1999). What corporate boards have to do with strategy: A cognitive perspective. Journal of Management Studies, 36(7), 953–75.Google Scholar
Rouleau, L. (2013). Strategy-as-practice at a crossroads. M@n@gement, 16(5), 547–65.Google Scholar
Sarasvathy, S. D. (2001). Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency. Academy of Management Review, 26(2), 243–63.Google Scholar
Scherer, A. G., Baumann-Pauly, D. & Schneider, A. (2012). Democratizing corporate governance: Compensating for the democratic deficit of corporate political activity and corporate citizenship. Business & Society, 52(3), 473–514.Google Scholar
Schilling, M. A. (2018). The cognitive foundations of visionary strategy. Strategy Science, 3(1), 335–42.Google Scholar
Schoemaker, P. J. H., Heaton, S. & Teece, D. (2018). Innovation, dynamic capabilities, and leadership. California Management Review, 61(1), 15–42.Google Scholar
Schrage, M., Pring, B., Kiron, D. & Dickerson, D. (2021). Leadership’s Digital Transformation: Leading Purposefully in an Era of Context Collapse, MIT Sloan Management Review and Cognizant Research Report.Google Scholar
Selznick, P. (1957). Leadership in Administration, New York: Harper and Row.Google Scholar
Simon, H. A. ([1947] 1976). Administrative Behavior: A Study of Decision-Making Processes in Administrative Organization, New York: Macmillan.Google Scholar
Simon, H. A. (1955), A behavioral model of rational choice. Quarterly Journal of Economics, 69(1), 99–118.Google Scholar
Simon, H. A. (1976), From substantive to procedural rationality. In Latsis, S., ed., Method and Appraisal in Economics, Cambridge: Cambridge University Press, pp. 129–48.Google Scholar
Sloan, A. P. (1963). My Years with General Motors, London: Sedgewick and Jackson.Google Scholar
Smircich, L. & Stubbart, C. (1985). Strategic management in an enacted world. Academy of Management Review, 10(4), 724–36.Google Scholar
Smith, A. (1776). An Inquiry into the Wealth of Nations, Hertfordshire: Wordsworth.Google Scholar
Snowden, D. J. & Boone, M. E. (2007). A leader’s framework for decision making. Harvard Business Review, 85(11), 68–76.Google Scholar
Steiner, G. (1969). Top Management Planning, Englewood Cliffs, NJ: Prentice Hall.Google Scholar
Stiles, P. (2001). The impact of the board on strategy: An empirical examination. Journal of Management Studies, 38(5), 627–50.Google Scholar
Sundaramurthy, C. & Lewis, M. (2003). Control and collaboration: Paradoxes of governance. Academy of Management Review, 28(3), 397–415.Google Scholar
Teece, D. J. (2007). Explicating dynamic capabilities: The nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(11), 1319–50.Google Scholar
Teece, D. J., Peteraf, M. & Leih, S. (2016). Dynamic capabilities and organizational agility: Risk, uncertainty, and strategy in the innovation economy, California Management Review, 58(4), 13–35.Google Scholar
Teece, D. J., Pisano, G. & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509–33.Google Scholar
Thakor, A. V. & Quinn, R. E. (2013). The Economics of Higher Purpose, ECGI-Finance Working Paper 395.Google Scholar
Thomas, J. B., Watts Sussman, S. & Henderson, J. C. (2001). Understanding ‘strategic learning’: Linking organizational learning, knowledge management, and sensemaking. Organization Science, 12(3), 331–45.Google Scholar
Tirole, J. (2001). Corporate governance. Econometrica, 69(1), 1–35.Google Scholar
Tricker, R. I. (1994). International Corporate Governance: Text, Readings and Cases, Englewood Cliffs, NJ: Prentice Hall.Google Scholar
Turnbul, S. (2012). The limitations of corporate governance best practices. In Clarke, T. and Branson, D., eds., Clarke, T. and Branson, D., eds.,Handbook of Corporate Governance, London & Thousand Oaks, CA:: Sage, pp. 428–50.Google Scholar
Tushman, M. L. & III O’Reilly, C. A. (1996). The ambidextrous organizations: Managing evolutionary and revolutionary change. California Management Review, 38(4), 8–30.Google Scholar
Nations, United (2015). Transforming Our World: The 2030 Agenda for Sustainable Development, UN General Assembly.Google Scholar
Useem, M. (2012). The ascent of shareholder monitoring and strategic partnering. In Clarke, T. and Branson, D., eds., Clarke, T. and Branson, D., eds.,The Sage Handbook of Corporate Governance, London & Thousand Oaks, CA:: Sage, pp. 136–58.Google Scholar
Van den Steen, E. (2018). Strategy and the strategist: How it matters who develops the strategy. Management Science, 64(10), 4533–51.Google Scholar
Van der Heijden, K. (1996). Scenarios: The Art of Strategic Conversation, Chichester: Wiley.Google Scholar
Van Ees, H., Bood, R. P. & Postma, T. J. B. M. (2019). The strategy role of the board revisited. Paper presented at the European Academy of Management Conference, Lisbon.Google Scholar
Van Ees, H., Gabrielsson, J. & Huse, M. (2009). Toward a behavioral theory of boards and corporate governance. Corporate Governance: An International Review, 17(3), 307–19.Google Scholar
Wack, P. (1985). Scenarios: Uncharted waters ahead. Harvard Business Review, 63(5), 73–90.Google Scholar
Walls, J. L. & Hoffman, A. J. (2013). Exceptional boards: Environmental experience and positive deviance from institutional norms. Journal of Organizational Behavior, 34(2), 253–71.Google Scholar
Weick, K. E. (1979). The Social Psychology of Organizing, New York: Random House.Google Scholar
Williamson, O. E. (1985). The Economic Institutions of Capitalism, New York: Free Press.Google Scholar
Williamson, O. E. (1996). The Mechanisms of Governance. New York: Oxford University Press.Google Scholar
Wiltbank, R., Dew, N., Read, S. & Sarasvathy, S. D. (2006). What to do next? The case for non-predictive strategy. Strategic Management Journal, 27(10), 981–98.Google Scholar
Whittington, R. (1993). What Is Strategy and Does It Matter? London: Thomson Learning.Google Scholar
Whittington, R. (1996). Strategy as practice. Long Range Planning, 29(5), 731–5.Google Scholar
Whittington, R., Cailluet, L. & Yakis-Douglas, B. (2011). Opening strategy: Evolution of a precarious profession. British Journal of Management, 22(3), 531–44.Google Scholar
Whittington, R., Molloy, E., Mayer, M. & Smith, A. (2006). Practices of strategising/organising: Broadening strategy work and skills. Long Range Planning, 39(6), 615–29.Google Scholar
Younger, R., Mayer, C. & Eccles, R. G. (2020). Enacting Purpose within the Modern Corporation: A Framework for Boards of Directors. Downloaded December 2020 from Enactingpurpose.org: www.enactingpurpose.org/assets/enacting-purpose-initiative–eu-report-august-2020.pdf.Google Scholar
Zahra, S. A. & Filatotchev, I. (2004). Governance of entrepreneurial threshold firm: A knowledge-based perspective, Journal of Management Studies, 41(5), 885–98.Google Scholar
Zahra, S. A. & Pearce, J. A. (1989). Boards of directors and corporate financial performance: A review and integrative model. Journal of Management, 15(2), 291–334.Google Scholar
Zattoni, A., Gnan, L. & Huse, M. (2015). Does family involvement influence firm performance? Exploring the mediating effects of board processes and tasks. Journal of Management, 41(4), 1214–43.Google Scholar
Zeitoun, H., Osterloh, M. & Frey, B. (2014). Learning from ancient Athens: Demarchy and corporate governance. The Academy of Management Perspectives, 28(1), 1–14.Google Scholar
Zingales, L. (2000). In search of new foundations. The Journal of Finance, 55(4), 1623–53.Google Scholar

Save element to Kindle

To save this element to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

The Role of the Board in Corporate Purpose and Strategy
  • Robert Bood, Universiteit van Tilburg, The Netherlands, Hans van Ees, Rijksuniversiteit Groningen, The Netherlands, Theo Postma, Rijksuniversiteit Groningen, The Netherlands
  • Online ISBN: 9781009221092
Available formats
×

Save element to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

The Role of the Board in Corporate Purpose and Strategy
  • Robert Bood, Universiteit van Tilburg, The Netherlands, Hans van Ees, Rijksuniversiteit Groningen, The Netherlands, Theo Postma, Rijksuniversiteit Groningen, The Netherlands
  • Online ISBN: 9781009221092
Available formats
×

Save element to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

The Role of the Board in Corporate Purpose and Strategy
  • Robert Bood, Universiteit van Tilburg, The Netherlands, Hans van Ees, Rijksuniversiteit Groningen, The Netherlands, Theo Postma, Rijksuniversiteit Groningen, The Netherlands
  • Online ISBN: 9781009221092
Available formats
×