Strategy Process Management in Multinational Companies: Status Quo, Deficits and Future Perspectives

Abstract

This article analyzes the underinvestigated field of strategy process management in German multinational companies (MNCs). Whereas the emphasis of research in the field of strategic management has traditionally been laid on the investigation of the strategy content, the knowledge of the strategy process and how promising strategies can be shaped and implemented within firms still remains limited. Considering these aspects this paper provides the following: first, we draw a distinction between different stages of the strategy process and empirically investigate tools and concepts applied by 122 firms to describe the status quo of strategic management in German MNCs. Second, based on our findings, we highlight the major deficits in the current strategy processes of the surveyed firms. Third, we present some suggestions on how strategy processes should be designed in MNCs in order to have a positive impact on performance. Although our study focuses solely on German MNCs we consider the results to be helpful for firms from other national backgrounds.

Keywords: Strategic Management, Strategy Process, Multinational Companies

JEL Classification: M10, M19