The hypothesis that managers believe risk to be a major component of strategy formulation, with a corresponding effect on the strategic decision‐making process, was subjected to empirical examination. A total of 93 top executives of Israel's largest industrial companies, representing various...

“Strategy formulation” is one of the most important projects of any company, but there is neither an accepted procedure to perform a “feasibility test” on the strategy, nor a definition of how to perform such a test. This article suggests that one can adopt two feasibility tests for the...

The article describes a new approach to the cost/benefit aspect of management control systems which will help managers decide which control system is worthwhile improving and how. The new concept is based on two ideas: defining the purpose of a control system as: “Triggering corrective action...

The argument that an organization's risk strategy is a unified whole and an integral component of the organization's Total Strategy was subjected to empirical examination. Ninety-two of the 450 top executives of the largest industrial companies in Israel, representing various business sectors,...