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The upper echelons theory is a management theory published by Donald C. Hambrick and Phyllis A. Mason in 1984. [1] It states that organizational outcomes are partially predicted by managerial background characteristics of the top level management team. [1]
Donald C. Hambrick, a strategic management professor and P. Mason first published an article about the upper echelon perspective in 1984. The article is cited over 16,000 times [2] and several additional articles in this field of research have been published over the last decades. [3]
The theory tries to explain a correlation between the organizational outcome and managerial background characteristics.
The theory is used in human resource management as a framework helping to hire new executives. In addition to that, the theory can be used to analyze other market competitors or listed companies and predict future strategic decisions of CEOs.
Management is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business.
Leadership, both as a research area and as a practical skill, encompasses the ability of an individual, group or organization to "lead", influence or guide other individuals, teams, or entire organizations. The word "leadership" often gets viewed as a contested term. Specialist literature debates various viewpoints on the concept, sometimes contrasting Eastern and Western approaches to leadership, and also North American versus European approaches.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.
Senior management, executive management, upper management, or a management is generally individuals at the highest level of management of an organization who have the day-to-day tasks of managing that organization—sometimes a company or a corporation.
Managerial economics is a branch of economics involving the application of economic methods in the managerial decision-making process. Economics is the study of the production, distribution and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources.
Conflict management is the process of limiting the negative aspects of conflict while increasing the positive aspects of conflict. The aim of conflict management is to enhance learning and group outcomes, including effectiveness or performance in an organizational setting. Properly managed conflict can improve group outcomes.
Managerialism involves belief in the value of professional managers and the concepts and methods they use. Contemporary writers on management, such as Thomas Diefenbach associate managerialism with hierarchy. But scholars have also linked managerialism to control, to accountability and measurement, and an ideologically determined belief in the importance of tightly-managed organizations, as opposed to individuals or to groups that do not resemble an organization.
The leader–member exchange (LMX) theory is a relationship-based approach to leadership that focuses on the two-way (dyadic) relationship between leaders and followers.
The organizational life cycle is the life cycle of an organization from its creation to its termination. It also refers to the expected sequence of advancements experienced by an organization, as opposed to a randomized occurrence of events. The relevance of a biological life cycle relating to the growth of an organization, was discovered by organizational researchers many years ago. This was apparent as organizations had a distinct conception, periods of expansion and eventually, termination.
The Strategic Management Society (SMS) is a professional society for the advancement of strategic management. The society consists of nearly 3,000 members representing various backgrounds and perspectives from more than eighty different countries. Membership is composed of academics, business practitioners, and consultants.. The society has been credited with being a factor in the development of strategic management as a legitimate field of scholarly endeavor. The SMS publishes the Strategic Management Journal, Strategic Entrepreneurship Journal and the Global Strategy Journal.
Strategy implementation is the activities within a workplace or organisation designed to manage the activities associated with the delivery of a strategic plan.
James D. Westphal conducts research and teaches in the areas of strategic management and organizational theory at the Stephen M. Ross School of Business, University of Michigan. Westphal’s research examines symbolic management and impression management processes in relations between corporate leaders and firm constituents, as well as social psychological processes in corporate governance and the corporate elite.
Core self-evaluations (CSE) represent a stable personality trait which encompasses an individual's subconscious, fundamental evaluations about themselves, their own abilities and their own control. People who have high core self-evaluations will think positively of themselves and be confident in their own abilities. Conversely, people with low core self-evaluations will have a negative appraisal of themselves and will lack confidence. The concept of core self-evaluations was first examined by Judge, Locke, and Durham (1997) and involves four personality dimensions: locus of control, neuroticism, generalized self-efficacy, and self-esteem. The trait developed as a dispositional predictor of job satisfaction, but has expanded to predict a variety of other outcomes. Core self-evaluations are particularly important because they represent a personality trait which will remain consistent over time. Furthermore, the way in which people appraise themselves using core self-evaluations has the ability to predict positive work outcomes, specifically, job satisfaction and job performance. These relationships have inspired increasing amounts of research on core self-evaluations and suggest valuable implications about the importance this trait may have for organizations.
Substitutes for leadership theory is a leadership theory first developed by Steven Kerr and John M. Jermier and published in Organizational Behavior and Human Performance in December 1978.
Management accounting principles (MAP) were developed to serve the core needs of internal management to improve decision support objectives, internal business processes, resource application, customer value, and capacity utilization needed to achieve corporate goals in an optimal manner. Another term often used for management accounting principles for these purposes is managerial costing principles. The two management accounting principles are:
Adaptive performance in the work environment refers to adjusting to and understanding change in the workplace. An employee who is versatile is valued and important in the success of an organization. Employers seek employees with high adaptability, due to the positive outcomes that follow, such as excellent work performance, work attitude, and ability to handle stress. Employees, who display high adaptive performance in an organization, tend to have more advantages in career opportunities unlike employees who are not adaptable to change. In previous literature, Pulakos and colleagues established eight dimensions of adaptive performance.
Team effectiveness is the capacity a team has to accomplish the goals or objectives administered by an authorized personnel or the organization. A team is a collection of individuals who are interdependent in their tasks, share responsibility for outcomes, and view themselves as a unit embedded in an institutional or organizational system which operates within the established boundaries of that system. Teams and groups have established a synonymous relationship within the confines of processes and research relating to their effectiveness while still maintaining their independence as two separate units, as groups and their members are independent of each other's role, skill, knowledge or purpose versus teams and their members, who are interdependent upon each other's role, skill, knowledge and purpose.
Sydney Finkelstein is the Steven Roth Professor of Management and faculty director of the Tuck Executive Program (TEP) at the Tuck School of Business at Dartmouth College. He is also the faculty director of the Center for Leadership at Tuck. His specialty is business leadership and strategy.
Behavioral strategy refers to the application of insights from psychology and behavioral economics to the research and practice of strategic management. In one definition of the field, "Behavioral strategy merges cognitive and social psychology with strategic management theory and practice. Behavioral strategy aims to bring realistic assumptions about human cognition, emotions, and social behavior to the strategic management of organizations and, thereby, to enrich strategy theory, empirical research, and real-world practice".
Ambidextrous leadership is a recently introduced term by scholars to characterize a special approach to leadership that is mostly used in organizations. It refers to the simultaneous use of explorative and exploitative activities by leaders. Exploration refers to search, risk taking, experimentation, and innovation in organizations, whereas exploitation has to do with refinement, efficiency, implementation, and execution. Successful ambidextrous leaders must be able to achieve the appropriate mix of explorative and exploitative activities, unique for each organization, that will lead them to high firm performance outcomes.
