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The experience that results from long tenure in a firm is known to extend the breadth of an executive’s knowledge base

Research shows that structure has a more important influence on strategy than the reverse

A centralized structure does not provide information from local stores that would be useful in changing its technology quickly. This example illustrates the effect of structure on strategy

The three internal corporate governance mechanisms are ownership concentration, board of directors, and the market for corporate control

An organization engaging in strategic entrepreneurship focuses on identifying opportunities that it can exploit through innovations

The market for corporate control is composed of individuals and firms that buy ownership positions in or purchase all of potentially undervalued corporations typically for the purpose of forming new divisions in established companies or merging two previously separate firms

The Dodd-Frank Wall Street Reform and Consumer Protection Act is the most sweeping set of financial and regulatory reforms in the United States since the Great Depression

Political activity that is centered on the allocation of resources to the different functions may limit the effective use of cross-functional teams

Centralized and formalized procedures allow for greater flexibility, an important factor for firms using a cost leadership strategy

Scandals at companies such as Enron, WorldCom, and HealthSouth illustrate the negative effects of poor ethical behavior on a firm’s efforts to satisfy stakeholders