Strategy Visualization, Cognitive Frames, and Strategy Renewal in SMEs
Strategy Visualization, Cognitive Frames, and Strategy Renewal in SMEs
Author(s): Marco VedovatoSubject(s): Business Economy / Management, Methodology and research technology, Social development, Management and complex organizations, Sociology of the arts, business, education, Marketing / Advertising, Social Norms / Social Control, ICT Information and Communications Technologies, Globalization
Published by: New Millennium Discoveries Ltd
Keywords: Strategy Visualization; Strategy Map; Business Model Canvas; Experiment; Small and Medium-size Enterprises; Strategy Renewal;
Summary/Abstract: This paper provides experimental evidence that visual representation of strategy and related concepts increases the probability of updating the cognitive frames of small entrepreneurs. An original strategy mapping technique and Osterwalder and Pigneur’s (2010) business model canvas were used to help 42 small entrepreneurs to critically review their current strategies and choices. A questionnaire about perceptions of the external environment and internal structure was submitted to the participants before and after the experiment. The same questionnaire was submitted twice to a matched control group of 50 SME entrepreneurs who were not involved in any activity. The results show that involvement in the visualization experiment significantly increased the probability of the participant changing perceptions on strategic issues, with a stronger impact for strategy mapping. The results are interpreted as indicative of a positive contribution of visual representation in strategy renewal.
Journal: International Journal of Management and Applied Research
- Issue Year: 3/2016
- Issue No: 1
- Page Range: 1-13
- Page Count: 13
- Language: English