Strategic Management Thought

Designing and Explaining Open Strategy Model (Case Study: Iranian Banking Industry)

Document Type : Research Paper

Authors

1 Assistant Professor of Business Management, Hazrat Masoumeh University, Qom, Iran

2 M.A. Business Administration, Hazrat Masoumeh Masoumeh University, Qom, Iran

Abstract

Given the shift in strategy and less efficiency of traditional approaches to that, it is necessary for organizations to adopt a new approach to implement their strategies. Here, open strategy plays an important role and can help organizations increase their efficiency, improve organizational capabilities and competitive position and develop personal capabilities. This strategy promotes a modern form of strategy development with the aim of increasing transparency and participation and the use of information technology tools. Given that a comprehensive model of open approach to the strategy helps organizations to achieve this goal, our research objective is to provide it as it could express all aspects of the strategy in banking industry. We have benefited from the grounded theory for theorizing and the framework of Strauss and Corbin’s grounded theory for designing the model. The participants in this study are experts in the field of strategic development, implementation and evaluation in university and banking industry, who amount to 11 people selected through purposeful judgment. By analyzing the data, 193 initial codes, 49 concepts and 19 categories were extracted, which ultimately determined the causal conditions (organizational nature, strategic orientation, organizational thinking and environmental nature), contextual conditions (individual, cultural, technological and structural readiness), interventional conditions (transparency, participation and technology challenges), axial category (open strategy), strategies (technological, communication, structural and control strategies) and consequences (behavioral, organizational and environmental), and helped to present the open strategy model.

Keywords

Main Subjects

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Strategic Management Thought
Volume 14, Issue 2 - Serial Number 28
December 2020
Pages 743-778
  • Receive Date: 03 August 2020
  • Revise Date: 18 May 2021
  • Accept Date: 01 June 2021