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Building an International Financial Services FirmHow Successful Firms Design and Execute Cross-Border Strategies$
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Markus Venzin

Print publication date: 2009

Print ISBN-13: 9780199535200

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199535200.001.0001

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Who should decide? Developing strategy-making capabilities

Who should decide? Developing strategy-making capabilities

Chapter:
(p.73) 3 Who should decide? Developing strategy-making capabilities
Source:
Building an International Financial Services Firm
Author(s):

Markus Venzin

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199535200.003.0004

Strategy making in many financial services firms is dominated by the desire to control risks, steer resources into profitable areas, and make incremental adjustments to the existing business model. Innovative strategic thinking that penetrates the organization from the lower ranks of the firm is rare. The narrow regulatory framework and inflexible IT systems often contribute to a fairly centralized approach to strategic decision-making in financial services firms. This chapter describes how financial services firms can accelerate their strategic metabolisms and fuel strategic thinking processes with energy. It shows how strategy processes should be designed for firms to lead to unique strategic positions.

Keywords:   financial services firms, strategic management, strategic decision-making

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