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Functional importance and company performance: Moderating effects of grand strategy and industry type

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  • Michael A. Hitt
  • R. Duane Ireland
  • Gregory Stadter

Abstract

The literature suggests that the appropriate combinations of functional importance (i.e., through resource allocations, type of activities) for high levels of company performance are affected by the type of grand strategy pursued by the firm and the firm's industry type. These relationships were examined for 93 industrial firms. Data on functional importance, grand strategy, and industry type were obtained from top executives while financial data were collected from the Compustat data files. The results showed that both grand strategy and industry type moderated the relationship between functional importance and company performance. These relationships were also examined for each grand strategy by industry type cell to provide data for further research.

Suggested Citation

  • Michael A. Hitt & R. Duane Ireland & Gregory Stadter, 1982. "Functional importance and company performance: Moderating effects of grand strategy and industry type," Strategic Management Journal, Wiley Blackwell, vol. 3(4), pages 315-330, October.
    • Handle: RePEc:bla:stratm:v:3:y:1982:i:4:p:315-330
    DOI: 10.1002/smj.4250030404
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    Cited by:

    1. Judge, William Q. & Naoumova, Irina & Koutzevol, Nadejda, 2003. "Corporate governance and firm performance in Russia: an empirical study," Journal of World Business, Elsevier, vol. 38(4), pages 385-396, November.
    2. André de Waal, 2011. "Strategy Only Matters A Bit: The role of Strategy in the High Performance Organization," Working Papers 2011/02, Maastricht School of Management.
    3. Gallear, David & Ghobadian, Abby & Chen, Weifeng, 2012. "Corporate responsibility, supply chain partnership and performance: An empirical examination," International Journal of Production Economics, Elsevier, vol. 140(1), pages 83-91.
    4. Robert N. Lussier & Matthew C. Sonfield & Joel Corman & Mary McKinney, 2001. "Strategies Used by Small Business Entrepreneurs," American Journal of Business, Emerald Group Publishing, vol. 16(1), pages 29-38.
    5. Bilal Bin Saeed & Wenbin Wang & Rui Peng, 2014. "Diagnosing organisational health: a case study of Pakistani banks," International Journal of Information Systems and Change Management, Inderscience Enterprises Ltd, vol. 7(1), pages 43-69.
    6. Wong, David T.W. & Ngai, Eric W.T., 2023. "The impact of advanced manufacturing technology, sensing and analytics capabilities, and planning comprehensiveness on sustained competitive advantage: The moderating role of environmental uncertainty," International Journal of Production Economics, Elsevier, vol. 265(C).
    7. Holm, Ulf & Sharma, D. Deo, 2006. "Subsidiary marketing knowledge and strategic development of the multinational corporation," Journal of International Management, Elsevier, vol. 12(1), pages 47-66, March.

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