Visionaries, Managers, and Strategic Direction

Garth Saloner

280 citations0/0 files storedThe RAND Journal of Economics

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Organizational Management and Leadership Corporate Finance and Governance Firm Innovation and Growth

Abstract

Incentives for profitable innovation may be enhanced by employing a visionary CEO whose biases him in favor of certain projects. CEO vision changes which projects get implemented and thus affects the incentives of employees who can be compensated for their innovative ideas only when they become embodied in implemented projects. Profits may be enhanced further by letting objective managers decide which projects to investigate even though their decisions can depart from the firm's strategy by differing from those the CEO would have made.

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References

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2003Exploitation, Exploration, and Process Management: The Productivity Dilemma Revisited 2008Ambidexterity as a dynamic capability: Resolving the innovator's dilemma 2001Time: A New Research Lens 2015Dynamic capabilities and entrepreneurial management in large organizations: Toward a theory of the (entrepreneurial) firm 2002Strategy as Vector and the Inertia of Coevolutionary Lock-in 2010

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