The objective of management control is to encourage an organization’s employees to undertake the activities which lead to strategy implementation (Anthony, 1965). Management control systems accomplish this goal in two different ways: By encouraging employees to do the right things, and by...

We look at reputation effects in firms which create value by finding valuable objects, which we label search shops. The paper examines and validates different measures of value creation and reputation in search shops and finds partial support for our hypothesis that higher reputation is...

Purpose – As a result of the many governance failures in the past decade, new legislation, increased regulation, and best practices have been adopted by boards in an effort to improve corporate governance. Unfortunately, not all of the changes, such as increasing the number of external...

Purpose – Knowledge‐intensive firms are growing in importance yet there are few tools to help managers to analyze and improve their performance, which this paper aims to describe. Design/methodology/approach – This paper builds on Michael Porter's strategic frameworks for industrial firms....

Purpose – The purpose of this paper is to describe four levers that managers can use to effectively implement strategy. Design/methodology/approach – Draws on the performance management literature, in particular Simons' levers of control framework, to describe and illustrate practical...

Purpose – The purpose of this article is to propose a process which ensures boards make risk pay off by identifying and selecting opportunities which more than compensate for the risks assumed. Organizations are increasingly under threat from factors such as globalization, regulations, and...

Purpose – This article integrates strategy mapping, risk management and management control into a risk‐based approach to strategy execution. It uses strategy mapping as a tool to visually depict the firm's strategy and then assess its risks. Based on this risk assessment, the firm's...