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Organizational Beliefs and Managerial Vision

Author(s)
Van den Steen, Eric
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Abstract
This paper studies, in a world with differing priors, the role of organizational beliefs and managerial vision in the behavior and performance of corporations. The paper defines vision operationally as a very strong belief by the manager about the right course of action for the firm. The interaction between employees' beliefs and the manager's vision influences decisions and determines employees' motivation and satisfaction. Through sorting in the labor market, the manager's vision also shapes organizational beliefs. Under weak conditions, a company's board should select a manager with stronger beliefs than its own, although spurious effects may make vision often look better than it really is. The analysis shows that beliefs play an important role that goes beyond their information content. It also has implications for theories of corporate culture and business strateg
Date issued
2003-03-28
URI
http://hdl.handle.net/1721.1/1845
Series/Report no.
MIT Sloan School of Management Working Paper;4224-01
Keywords
vision, organizational beliefs, culture, heterogeneous priors, differing priors

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