Viewing ‘open strategy’ as a viable approach to the management of strategy

Journal of Economic and Financial Sciences


 
 
Field Value
 
Title Viewing ‘open strategy’ as a viable approach to the management of strategy
 
Creator Goldman, Geoff A. Kruger, Jonathan
 
Subject inclusivity; open strategy; qualitative research; strategic management; transparency
Description Orientation: Sound strategic management is vital for the longevity and sustainability of organisations. Yet, strategy execution remains problematic, in part due to prolific changes in the business environment.Research purpose: To explore the views of South African managers toward Open Strategy, to gauge whether managers will consider Open Strategy as viable strategic management approach.Motivation for the study: As organisations grapple with the challenges of Fourth Industrial Revolution (4IR), it is apparent that conventional thinking on strategy is losing relevance. Alternative approaches to strategy are being explored that are better suited to the changing business environment.Research design, approach and method: The study was conducted from an Interpretive perspective, employing a qualitative survey design. Semi-structured interviews were conducted with 12 middle and senior managers of South African companies. Data were analysed through thematic content analysis, employing Creswell’s four-stage process of qualitative data analysis.Main findings: Five themes emerged, highlighting that conventional thinking on strategic management pervades. Research participants acknowledged that they were unaware of Open Strategy, although evidence suggested that elements of Open Strategy were present in their approaches to strategy formulation and execution. These were categorized into evidence relating to transparency, inclusivity and IT-enabledness.Practical/managerial implications: From the findings of the study suggestions were provided on how South African organisations could pursue a greater degree of openness in their management of strategy.Contribution/value-add: The study provides valuable insights in terms of opening up strategic practices to be more prepared for the challenges laid down by 4IR.
 
Publisher AOSIS
 
Contributor open strategy strategic management qualitative research transparency inclusivity
Date 2021-01-28
 
Type info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion —
Format text/html application/epub+zip text/xml application/pdf
Identifier 10.4102/jef.v14i1.579
 
Source Journal of Economic and Financial Sciences; Vol 14, No 1 (2021); 10 pages 2312-2803 1995-7076
 
Language eng
 
Relation https://jefjournal.org.za/index.php/jef/article/view/579/1129 https://jefjournal.org.za/index.php/jef/article/view/579/1128 https://jefjournal.org.za/index.php/jef/article/view/579/1130 https://jefjournal.org.za/index.php/jef/article/view/579/1127
 
Rights Copyright (c) 2021 Geoff A. Goldman, Jonathan Kruger https://creativecommons.org/licenses/by/4.0