Dynamic strategic goal setting: theory and initial evidence

We develop an integrative conceptualization of how firms set and alter strategic goals, incorporating insights from goal-setting literatures across the disciplines of marketing, management, and psychology. Our framework accounts for the internal and external forces that impact the content of a firm's goals as well as the dynamic processes by which these goals are formed and changed over time. By proposing this framework, we strive to offer insights into the “black box” of organizational goals that connect firm resources and environmental context to firm strategies. Illustrative data to support our framework are provided from a case study of a Fortune 100 communication firm's entry into an emerging, high-technology, new product marketplace.