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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
The Levers Are Not Connected: Strategic Management in the Last Days
Author(s): Joseph Gilbert
Citation: Joseph Gilbert, (2010) "The Levers Are Not Connected: Strategic Management in the Last Days," Journal of Applied Business and Economics, Vol. 11, Iss. 4, pp. 70 - 81
Article Type: Research paper
Publisher: North American Business Press
Abstract:
The standard theory of strategic management holds that senior executives, acting under the broad
governance of a board of directors, set directions and allocate resources to achieve company goals.
Books detailing the last days of a number of large companies make it clear that this theory does not
describe reality in some cases. In the last weeks or days of these companies, very vigorous actions by
boards of directors, senior managers, and outside advisors failed to change the outcome in the direction
desired by the companies involved. This paper examines some of these descriptions of end-stage efforts at
four companies that went bankrupt or were purchased and ceased to exist as independent entities.
Common themes are explored, and topics for further study to improve understanding of this phenomenon
are identified.
