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Factors Associated with Creative Strategic Decisions
Author(s) -
Ford Cameron M.,
Sharfman Mark P.,
Dean James W.
Publication year - 2008
Publication title -
creativity and innovation management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.148
H-Index - 60
eISSN - 1467-8691
pISSN - 0963-1690
DOI - 10.1111/j.1467-8691.2008.00486.x
Subject(s) - competitor analysis , competition (biology) , strategic thinking , business , creativity , strategic planning , strategic management , marketing , strategic alignment , profit impact of marketing strategy , strategic control , process (computing) , industrial organization , perception , strategic fit , field (mathematics) , strategic financial management , psychology , computer science , social psychology , neuroscience , ecology , biology , operating system , mathematics , pure mathematics
The study and practice of business strategy is fundamentally based on employing creative solutions to differentiate a firm from its competitors. Theories used to describe the causes and consequences of strategic differentiation tend to focus on organization‐level characteristics such as resources, capabilities and structures. However, less is known about day‐to‐day processes and practices whereby strategic managers develop create solutions necessary to establish strategic differentiation. This paper presents a preliminary field study of factors suggested by previous strategy process and micro‐strategy research that may lead to, and result from, creative strategic decisions. Findings produced by a longitudinal field study of 52 strategic decisions reveal that creative strategic choices arise in response to managers' perceptions of uncertainty and competition. The findings also suggest that creativity may improve the ultimate effectiveness of strategic choices by 5–10 per cent.