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Markus Menz
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Menz
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Markus
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markus.menz@unisg.ch
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PublicationThe CEO as A Key Micro-Foundation of Global Strategy: Task Demands, CEO Origin, and the CEO's International BackgroundResearch Summary: We explore the selection of new CEOs with an international background as a key microfoundation of global strategy. Building on executive succession, upper echelons, and international business research, we argue that firms choose CEOs with an international background to match their task demands. We further argue that depending on the CEO’s origin from inside or outside the firm different task demands matter. Specifically, we propose that the relationship between internal (firm-level) task demands and the new CEO’s international background is more pronounced for inside successions, whereas the relationship between external (industry-level) task demands and the new CEO’s international background is more pronounced for outside successions. An analysis of a sample of 363 CEO successions in S&P 500 firms supports our reasoning. Managerial Summary: Choosing a CEO with the “right” experience is a crucial concern for many large firms. While firms seem to increasingly often select new CEOs with international backgrounds, by far not all firms do so. In this paper, we explore the factors that might influence this choice. Specifically, we find that the predecessor’s international background, the firm’s level of internationalization, as well as the firm’s industry internationalization have an influence on the selection of a CEO with an international background. While for inside successions the firm’s level of internationalization is particularly important, for outside successions, the level of internationalization of the firm’s industry is particularly important. Our findings inform those who search, select, and appoint new CEOs, including boards of directors and (executive search) consultants.
Scopus© Citations 29 -
PublicationChanges at Corporate Headquarters: Review, Integration and Future ResearchIn modern corporations, the corporate headquarters (CHQ) unit is considered central to the fortune of the overall firm. In light of ever-changing environments, changes at the CHQ have become a crucial concern in management research and practice, and scholars have studied a variety of changes at the CHQ. Despite the common focus on the CHQ entity and the potential for cross-fertilization across several research tracks, a coherent picture of this dispersed body of knowledge is lacking. In this article, we review 25 years of research on changes at the CHQ. In so doing, we advance a common language and an overarching framework that integrates the existing knowledge in the intellectual domains of strategy, organizational design and international business research. On this basis, we suggest directions for future research to advance our knowledge of: (1) the pressure for and resistance to changes at the CHQ, (2) interrelationships among changes at the CHQ, (3) change processes at the CHQ, (4) agents involved in changes at the CHQ and (5) adaptive and disruptive effects of changes at the CHQ. Overall, the study provides a conceptual basis for combining the existing knowledge of changes at the CHQ and serves as a guide for future research.Type: journal articleJournal: International Journal of Management ReviewsVolume: 17Issue: 3DOI: 10.1111/ijmr.12044
Scopus© Citations 60 -
PublicationThe Corporate Headquarters in the Contemporary Corporation: Advancing a Multimarket Firm PerspectiveThe corporate headquarters (CHQ) is the central organizational unit in the contemporary corporation, and is critical for value creation in the overall firm. Since the early 1960s, a significant body of research on the CHQ has evolved along two separate but related streams. The first stream focuses on the CHQ in the multibusiness firm, while the second stream concerns the CHQ in the multinational firm. In this article, we promote a consistent multimarket firm perspective that draws on research in both streams. First, we describe the origins and evolution of CHQ research in each stream, and articulate the benefits of a multimarket firm perspective. Second, we integrate the conversations found in the two streams into a schematic framework, review the studies' findings, and establish a shared language. We also propose ways in which scholars in each stream might enrich their work by incorporating some of the theories, methods, and findings of the other stream. Third, we discuss four fundamental inquiries for future research that draw upon the cumulative CHQ research in both streams. Overall, this article informs the study of the CHQ and, thereby, contributes to our understanding of the contemporary corporation.Type: journal articleJournal: The Academy of Management AnnalsVolume: 9Issue: 1
Scopus© Citations 78 -
PublicationChief Strategy Officers: Contingency Analysis of Their Presence in Top Management TeamsDrawing upon contingency theory, we analyze the antecedents and performance consequences of chief strategy officer (CSO) presence in top management teams (TMTs). We argue that strategic and structural complexity affects the decision to have a CSO in the TMT and its effect on firm performance. The results of a sample of S&P 500 firms over a five-year period reveal that diversification, acquisition activity, and TMT role interdependence are positively associated with CSO presence. However, we also find that the structural choice to have a CSO in the TMT does not significantly affect a firm's financial performance. This first systematic analysis of CSO presence informs research on CSOs and contributes to the emerging literature on TMT structure.Type: journal articleJournal: Strategic Management JournalVolume: 35Issue: 3DOI: 10.1002/smj.2104
Scopus© Citations 84 -
PublicationThe Chief Strategy Officer in the European Firm: Professionalising Strategy in Times of Uncertainty(EBR Media Limited, 2013-05-20)
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PublicationType: journal articleJournal: Harvard Business ManagerIssue: 12
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PublicationFunctional Top Management Team Members: A Review, Synthesis, and Research AgendaFunctional top management team (TMT) members, defined as senior executives in the TMT responsible for one or more functional areas in their organizations, have received increased attention from scholars from different fields over the past few years. The purpose of this article is to review the disconnected research on various functional TMT members; to identify the variables of interest, the dominant relationships, and the contributions; and to organize the existing knowledge into a framework. On the basis of a synthesis of the literature, the author discusses the shortcomings and gaps and presents an agenda for future research that contributes to our understanding of functional TMT members and, thus, of TMT structure and composition.Type: journal articleJournal: Journal of ManagementVolume: 38Issue: 1
Scopus© Citations 237 -
PublicationDie vier Gesichter des Chefstrategen(Manager-Magazin-Verlagsgesellschaft, 2011-10-25)
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PublicationDeterminants and Performance Consequences of Corporate Development and Strategy Function SizeThe corporate development and strategy function (CDSF) at firms’ headquarters is critical for their strategy activities, yet we know little about its design and structure. We argue that environmental uncertainty, strategic task demands, and structural complexity affect the need for strategy resources at the corporate level and, thus, the size of the CDSF. Drawing upon a survey of strategy heads from 105 large, listed European firms as well as archival data, we find that a firm’s market fragmentation, related diversification strategy, acquisition activity, overall size, and organizational centralization are positively associated with the number of CDSF employees. We also find, however, that the function’s size does not affect a firm’s financial performance.Type: conference paper
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PublicationPowerplay in the C-Suite: How the Chief Strategy Officer's Perceived Discretion is Constrained by other Top ManagersChief strategy officers (CSOs) often perceive a varying degree of managerial discretion. We develop and test a model on how structural, expert, and prestige power affect the CSO's perception of discretion across different decision domains and its consequences for the firm's strategy. Using archival and unique survey data of 116 CSOs of European firms, we find some support for these relationships, however, notably, reveal that these effects depend on the power of other top managers, specifically the CEO and the chief operating officer (COO). By considering individual-level differences in the CSO's perception of discretion as well as the powerplay with other top managers, the study contributes to research on managerial discretion and functional top managers.Type: conference paper