Strategic tools are indispensible for business and competitive analysis. Yet we know very little about managers' internal logic as they put these tools into practical use. We situate our study in a business school context using action learning prior to the manifestation of practice to complement...

When managers set aspirations for their firms, they typically compare their own firms’ performance to past aspirations as well as to the performance of social reference groups. We explore how firm generic strategy affects managers’ adaptation of firm aspirations in response to feedback from...