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首页> 外文期刊>Strategic Management Journal >Centers of gravity: The effect of stable shared leadership in top management teams on firm growth and industry evolution
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Centers of gravity: The effect of stable shared leadership in top management teams on firm growth and industry evolution

机译：重心：高层管理团队中稳定的共有领导对公司成长和行业​​发展的影响

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Research Summary We study the processes of firm growth in the evolution of the Japanese cotton spinning industry during 1883-1914 by integrating strategy and historical approaches and utilizing rich quantitative firm-level data and detailed business histories. The resultant conceptual model highlights growth outcomes of path dependencies as firms evolve across periods of single versus shared leadership, establish stability in shared leadership, or experience repeated discord-induced top management team (TMT) leader departures. While most firms do not experience smooth transitions to stable shared TMT leadership, a focus on value creation, in conjunction with talent recruitment and promotion, enabled some firms to achieve stable shared leadership despite discord-induced departures, engage in long-term expansion, and emerge as "centers of gravity" for output and talent in the industry.Managerial Summary We demonstrate stable shared leadership is at root of firms who emerge as centers of gravity in an industry and account for the lion's share of output. Stable shared leadership enables growth strategies such as talent recruitment, product diversification, downstream integration, and acquisitions. Stable shared leadership, however, is extremely difficult to maintain. Most firms experience discord-induced departures in TMTs due to politics and power struggles. Firms that deviate from this norm to become industry leaders achieve stable shared leadership by adhering to fundamental principles related to long-term value creation as opposed to short-term gain, adoption of merit-based promotion systems in defiance of stereotypes, sharing of power within TMT leadership to enable efficient division of labor, and honorable resolution of conflicts and ethical breaches.
机译：研究摘要我们通过结合策略和历史方法，并利用丰富的定量公司级数据和详细的业务历史记录，研究了1883-1914年日本棉纺行业中公司成长的过程。由此产生的概念模型强调了路径依赖的增长结果，因为企业在单一领导与共享领导的时期内发展，在共享领导中建立稳定或经历了反复失调引起的高层管理团队（TMT）领导离职。尽管大多数公司没有平稳过渡到稳定的TMT领导层，但注重价值创造以及人才招募和晋升，尽管有些公司因不和谐而离职，长期扩张以及管理层摘要我们证明，稳定的共享领导力是那些在行业中重心崛起并占最大产出份额的公司的根本。稳定的共享领导能力可实现增长战略，例如人才招聘，产品多样化，下游整合和收购。但是，稳定的共同领导很难维持。由于政治和权力斗争，大多数公司经历了不和谐导致的TMT退出。偏离这一规范而成为行业领导者的公司，将坚持与长期价值创造相关的基本原则，而不是与短期收益相反，采用基于优点的晋升制度来克服陈规定型观念，在内部分享权力，从而实现稳定的共同领导TMT领导层可实现有效的分工，以光荣的方式解决冲突和违反道德的行为。

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