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2022 | Buch

Strategy through Personal Values

A behavioural approach

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Providing an alternative to short term, bottom line thinking this book enters into a deeper dialogue about the role of personal values in strategy formulation and implementation.

Personal values are at the core of people’s personality. They influence the choices we make, the people we trust, the appeals we respond to, and the way we invest our time and energy. In turbulent times, values give a sense of direction amid conflicting views and demands.

This book summarises current research in this area and introduces a new model around what personal values guided strategy is, how it’s linked to strategic choice and organizational goals and how it impacts upon organizational performance. Once personal value systems are recognized, personal value systems and their alignment to strategies, goals and missions provide powerful insight into how resistance to strategies is caused.

With implications for leadership development, corporate governance and strategic HRM, this book extends research in this area and is essential reading for anyone involved in strategy implementation.

Inhaltsverzeichnis

Frontmatter
Chapter 1. Why Should Strategy Be Guided by Personal Values?
Abstract
This chapter provides a context for a behavioural approach to strategy and the pivotal role of personal values in strategy formulation and implementation. The aim is to provide a brief overview of the topic, highlight its unique contribution to strategy and introduce the strategy-as values-congruence approach. In answering the question of why the strategy should be personal values-guided, the chapter offers an alternative to the rational and deterministic schools of strategy which have been debunked by managers and strategists’ cognitive limitations. Moreover, by introducing and discussing personal values-guided strategy, the understanding and practice of strategy can be enhanced. We provide an example to illustrate its relevance and why a personal values-based guidance system matters even more in a volatile, uncertain, complex and ambiguous trading environment.
Scott Lichtenstein, Malcolm Higgs
Chapter 2. Personal Values and Strategic Choice
Abstract
Our suggested contributions to this chapter are fourfold. Firstly, we introduce a model to help explore the link between personal values and strategic choice. Secondly, we summarise research results concerning the significant role personal values play in guiding strategic decisions in the workplace. Next, we introduce a framework to understand how manager’s values orientations manifest in predictable patterns of strategic choices. Finally, the application of values orientation to strategic decisions in the context, the values dynamic of an organisation is illustrated through two mini case studies with questions for managers and leaders to reflect upon to draw implications for their own strategic leadership.
Scott Lichtenstein, Malcolm Higgs
Chapter 3. Developing Strategy Based on Personal Values
Abstract
This chapter explores the key components in devising a values-guided strategy employing the strategy-as-values congruence approach. Following the discussion of values-guided strategy as a social influencing process, we introduce a tool to help you discover your personal values with guiding questions to facilitate the development of your values-guided strategy. This is done in the context of strategy as storytelling that covers the ingredients for a strategy-as-story approach for emotional buy-in from key internal and external stakeholders. Personal values aligned strategy in action is illuminated by a mini case of a senior manager in the financial services sector, ‘Alex’, and his personal values-guided career transition. Finally, a mini case study ‘Taking the Bull by the Horns’ unpacks valued-guided strategy in the context of the leadership team values dynamics from the most successful coach in US professional Basketball history to with questions for managers and leaders to reflect upon devising and getting buy-in for values-guided strategy alignment.
Scott Lichtenstein, Malcolm Higgs
Chapter 4. Implementing Strategy Based on Personal Values
Abstract
This chapter explores the key components of implementing a values-guided strategy. Aligning values-based strategies into the operative values of direct reports is introduced in the context of intellectual and emotional buy-in including drivers for achieving buy-in. Research-based results of the alignment process with high and low-performing teams are summarised before a section on internal communication and how they vary by Settlers, Enterprisers and Explorers are explored to power your values-guided implementation. A consideration of the elements of ‘walking the values guided talk’ is considered to embed change within the workforce. Finally, a mini case study of Cisco’s values-based re-organisation highlights strategy implementation in action.
Scott Lichtenstein, Malcolm Higgs
Chapter 5. Postscript: Where Are We Now and Emerging Trends in Personal Values Guided Strategy
Abstract
This chapter explores where personal values-guided strategy has been, where it is now and emerging trends in the field. Firstly, the subject as an academic discipline is mapped onto the issue lifecycle in a historical management context to assess where it is now. Next, emerging trends in personal values-guided adaptive strategies is discussed in the context of values-aligned generative business models. Finally, emerging links with moral orientations with practical application to stakeholder governance is illustrated by ex-Unilever CEO Paul Polman’s personal values-led Sustainable Living strategy.
Scott Lichtenstein, Malcolm Higgs
Backmatter
Metadaten
Titel
Strategy through Personal Values
verfasst von
Scott Lichtenstein
Malcolm Higgs
Copyright-Jahr
2022
Electronic ISBN
978-3-030-88269-3
Print ISBN
978-3-030-88268-6
DOI
https://doi.org/10.1007/978-3-030-88269-3