Strategy Process As Formulation and Realization of Corporate Goals: The Synthesis of Surveys in Russian Firms

Zusammenfassung

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Based on a series of corporate surveys, the paper reveals the peculiarities of strategy processes in Russian companies. The data suggests that the fragile balance of power between the top management and the dominant owners leads to establishing of sets of hardly combined goals. The necessary partial implementation of such sets leads to low confidence in the actions to be undertaken, low persistence in realization of business projects, permanent readiness to withdraw resources from the existing projects for their redirection into non - core assets.

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Strategy Process As Formulation and Realization of Corporate Goals: The Synthesis of Surveys in Russian Firms

Introduction

Strategy process is generally viewed as the process of transformation of strategic intents into strategic outcomes, In a recent terrific overview of the strategy process literature (Hutzschenreuter/Kleinthenst 2006), more than 220 articles were presented and evaluated along three broad categories of factors relevant within strategy-process research:

* antecedents (environmental and organizational contexts as well as past performance),

* process (strategists' characteristics, issues' characteristics, forms of strategy formulation and actions of implementation),

* outcomes (changes in the environment, organizational characteristics and company performance).

However, most of the studies avoid the key elements of corporate strategy setting and implementation of corporate goals. Looking deeper into a backlist of publications, we were able to identify in scholarly journals 30 papers with the titles that explicitly contained the term "corporate objectives. Although there are sporadic discussions on the topic1 we also should note that most of empirical studies on corporate goals were undertaken in 1970-198Os (Child 1973; Budde et al. 1982; Shetty 1979; Beggs/Lane 1989a/b)2.

Thus, we have had to critically re-evaluate the existing theoretical models of goal setting and goal realization, and to undertake the empirical research that should examine our theoretical concepts. Therefore, the aims of our study were:

* To propose the general model of strategy process built around strategic goals.

* To develop research instruments for observation of t...

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