The role of managerial learning and interpretation in strategic persistence and reorientation: An empirical exploration
基于管理学习框架，研究过去绩效、管理解释和高管团队特征如何影响组织战略重新定位，发现差绩效、环境意识、团队异质性和CEO更替会提高重新定位概率，且环境稳定性调节了部分关系。
Abstract This study uses a managerial learning framework to build and test a model of the decisionmaking process that drives decisions to strategically reorient an organization. The model examines the effects of past performance, managerial interpretations, and top management team characteristics on the likelihood of strategic reorientation in two distinct environmental contexts. The results indicate that poor past performance, environmental awareness, top management team heterogeneity, and CEO turnover increased the likelihood of reorientation. There are some differences in the ways in which these variables affect reorientation across the two environmental contexts. Poor past performance was more strongly associated with reorientation in the stable environment than in the turbulent environment. The tendency to make external attributions for poor performance outcomes decreased the likelihood of reorientation in the turbulent environment, but not in the stable environment.