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Top management: The architects of success

In: Enduring Success

Author

Listed:
  • Franz Bailom
  • Kurt Matzler
  • Dieter Tschemernjak

Abstract

According to one of the theses we put forward in Chapter 3: “It is not individual management methods and tools, but ultimately the top management team’s attitudes, values, thought patterns and approach which form the basis for sustained success.” If we look at the results of our empirical analyses using the PLS model, this thesis does not seem tenable, at least at first glance, since the data from over 700 strategic business units show that there is no direct statistically significant relationship between the innovation orientation of top management and corporate success. However, if we leave culture, market orientation, core competences, and innovation in products and services to one side and only calculate a very simplified model that only takes the relationship between the innovation orientation of top management and corporate success into account, something interesting happens: the relationship suddenly becomes highly significant and strong (β = 0.47***). How can this be explained? Expressed in scientific language, the result means that culture, market orientation, core competences, and innovative success have a strong mediator effect.1 In other words, there is a relationship between the innovation orientation of top management and corporate success. However, this is not a direct relationship; it only comes about via the other success drivers in our model. Put simply, this means that the innovation orientation of top management alone is not sufficient.

Suggested Citation

  • Franz Bailom & Kurt Matzler & Dieter Tschemernjak, 2007. "Top management: The architects of success," Palgrave Macmillan Books, in: Enduring Success, chapter 9, pages 133-143, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28704-4_9
    DOI: 10.1057/9780230287044_9
    as

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