TY - JOUR
T1 - Real options in management and organizational strategy
T2 - a review of decision-making and performance implications
AU - Driouchi, Tarik
AU - Bennett, David
PY - 2012/3
Y1 - 2012/3
N2 - This paper contributes to the debate on the role of real options theory in business strategy and organizational decision-making. It analyses and critiques the decision-making and performance implications of real options within the management theories of the (multinational) firm, reviews and categorizes the organizational, strategic and operational facets of real options management in large business settings. It also presents the views of scholars and practitioners regarding the incorporation and validity of real options in strategy, international management and business processes. The focus is particularly on the decision-making and performance attributes of the real options logic concerning strategic investments, governance modes and multinational operations management. These attributes are examined from both strategic and operating perspectives of decision-making in organizations, also with an overview of the empirical evidence on real options decision-making and performance.
AB - This paper contributes to the debate on the role of real options theory in business strategy and organizational decision-making. It analyses and critiques the decision-making and performance implications of real options within the management theories of the (multinational) firm, reviews and categorizes the organizational, strategic and operational facets of real options management in large business settings. It also presents the views of scholars and practitioners regarding the incorporation and validity of real options in strategy, international management and business processes. The focus is particularly on the decision-making and performance attributes of the real options logic concerning strategic investments, governance modes and multinational operations management. These attributes are examined from both strategic and operating perspectives of decision-making in organizations, also with an overview of the empirical evidence on real options decision-making and performance.
KW - real options theory
KW - business strategy
KW - organizational decision-making
KW - performance
KW - multinational firm
KW - real options management
UR - http://www.scopus.com/inward/record.url?scp=84855931643&partnerID=8YFLogxK
UR - http://onlinelibrary.wiley.com/doi/10.1111/j.1468-2370.2011.00304.x/abstract
U2 - 10.1111/j.1468-2370.2011.00304.x
DO - 10.1111/j.1468-2370.2011.00304.x
M3 - Article
SN - 1460-8545
VL - 14
SP - 39
EP - 62
JO - International Journal of Management Reviews
JF - International Journal of Management Reviews
IS - 1
ER -