An Examination of Faculty Salaries between the Fields of Strategic Management and Entrepreneurship

of 47
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Information Report
Category:

Book

Published:

Views: 38 | Pages: 47

Extension: PDF | Download: 0

Share
Description
Research in compensation for faculty at universities is an understudied area. This study will contribute to our understanding of the trends in salaries for faculty in the areas of strategic management and entrepreneurship. Based on 325 AACSB schools
Tags
Transcript
  1 An Examination of Faculty Salaries between the Fields of Strategic Management and Entrepreneurship ABSTRACT  Research in compensation for faculty at universities is an understudied area. This  study will contribute to our understanding of the trends in salaries for faculty in the areas of  strategic management and entrepreneurship. Based on 325 AACSB schools of higher education in the United States from 2004-2015, the study examines three separate variables: sex, rank, and type of institution. The results of this study will be beneficial to both doctoral students,  faculty, and administrators as they will get a better understanding of the trends that are occurring in the marketplace. A discussion of the findings and implications are examined. Keywords Faculty, Strategic Management, Entrepreneurship, Trends, Salaries, Higher Education  2 An Examination of Faculty Salaries between the Fields of Strategic Management and Entrepreneurship INTRODUCTION The purpose of this article is to assist faculty and administrators within schools of higher education with the trends in faculty salaries in the fields of strategic management and entrepreneurship. By understanding these trends, potential students, faculty, and administrators can make better informed decisions about their future. Specifically, this article will examine the trends in faculty salaries over the past 10 years. Using data on salaries of strategic management and entrepreneurship faculty, this article will answer the following questions: (1) What are the differences in salaries between strategic management and entrepreneurship faculty by rank at AACSB schools in the United States (US)? (2) What are the differences in salaries between strategic management and entrepreneurship faculty by sex at AACSB schools in the US? and (3) What are the differences in salaries  between strategic management and entrepreneurship faculty by type of school (Public versus  private) at AACSB schools in the US? The results of this study will be beneficial to both doctoral students, faculty, and administrators as they will get a better understanding of the dynamic changes that are occurring in the marketplace. We provide a discussion our findings towards the end of the article. A Brief History of the Field of Strategic Management The field of Strategic Management is about the creation of a strategic plan that allows organizations to compete more effectively in their environment. The strategic plan can be broken down into two stages; The strategic and implementation stage. The strategic stage involves the vision, values, objectives, current strategies, SWOT (Strengths, weaknesses, opportunities, and threats) analysis, industry analysis, problems, opportunities, and strategic recommendations. The  3 second portion is the implementation stage which involves the actual implementation of the recommendations. Typically, there are a number of steps in the implementations stage some of which include the structure of the organization, culture, people, rewards, assignments, timeline, and financial and strategic metrics. The implementation stage is the most difficult and least understudied aspect of the strategic process. The earliest modern definition of strategy was given by game theorists, Von Nuemann and Morgenstein (1947), who defined strat egy as the “series of actions by a firm that are decided according to a particular situation” (Bracker  , 1980). The historical evolution of strategic management research has been shaped by the influences of three main streams: the institutionalists or field researchers in the 1960s and early 1970s, the economists in the late 1970s and 1980s, followed by the behaviorists in the late 1980s and 1990s. Theories from economics, sociology and psychology have been mainly used in strategic management research (Bowman, Singh, & Thomas, 2002). While the srcin of academic research in strategic management is as early as the 1960s, the broad concept of strategic management has been seen in Chinese military thinking such as The Art of War   by Sun Tzu (2016 Reprint), which was written around the 5 th  century BC. Machiavelli, Napoleon, and Homer were also early writers (Bracker, 1980; Thomas, Wilson, & Leeds, 2013). The field of strategic management srcinated from business policy as early as the 1960s (Bowman et. al., 2002). In 1972, Schendel and Hatten  proposed the emergence of business  policy, then considered only to be a course, into a much broader discipline called strategic management. Business policy was renamed strategic management in 1979 (Schendel & Hofer, 1979).   4 The evolution of key ideas in strategic management research began with the firm   as the main focus in the mid-1960s. It transitioned on to the environment and its relationship to the firm in the 1970s. This was followed by industries, markets, and firm scope in the 1980s and finally firm capabilities and core competencies in the 1990s (Bowman et. al., 2001). Two paradigms have been identified within strategic management that have guided research- the industry based view and the resource based view (Cox, Daspit, McLaughlin, & Jones, 2012). Early literature in strategic management research until the mid-1970s focused on ‘organizational fit’ - ‘strategy as integrating organizational functions’, or ‘ strategy as a fit  between the organization and the environment’   or ‘ strategy as a planning perspective in terms of ends-means ’   (Bowman et. al., 2002) . In the late 1970s, operations research, game theory and economics led to the development of modeling tools such as the SWOT analysis. Mintzberg, Raisinghani, and Theoret’s  (1976) “Structure of unstructured decision processes”, is an example of the evolutionary view of the strategy process in the literature. Porter’s five forces model (Porter, 1980), was based on the “ strategy as a fit between the o rganization and the environment”   thinking. Porter’s work in the mid -1990s focused on understanding the role of the top management teams in the fit between the organization and the environment . Other scholars in the 1990s focused on the firm as a rent-seeking mechanism . Around the 1990s, the resource- based view gained prominence in the strategic management literature (Bowman et. al., 2002). I nstitutionalism of strategic management first came about with Porter’s Competitive Strategy (1980). As strategic management became to be established as an academic discipline  by AACSB, the MBA programs and courses in strategic management offered today by business schools are one example of institutionalism. Professional societies such as the Strategic management society and presences of journals such as Strategic Management Journal  , Strategic  5  Entrepreneurship Journal  , the Global Strategy Journal   and the  Journal of Business Strategies are other examples of the institutionalization of the field of Strategic Management. Strategic management research has acknowledged the increasing importance of entrepreneurship literature. For example, the Strategic Management Society in 2007, established and added to the Strategic Management Journal  , the Strategic Entrepreneurship  Journal   (SEJ) to advance entrepreneurship research (Aldrich, 2012). The importance of strategic management in entrepreneurship research makes it relevant for entrepreneurship researchers to study the history of strategic management as a guide for researchers that want to shape the future of entrepreneurship research. As of 2016, the Academy of Management reported that there were 4,865 members in Business Policy and Strategy Division and 3228 members in the entrepreneurship division (  AOMonline.com , 2016). A Brief History of the Field of Entrepreneurship Entrepreneurship is a subtopic of strategic management, but has morphed into its own dynamic field. Entrepreneurship plays a key role in society. The ability to be creative and entrepreneurial is a differentiating aspect for individuals, organizations, and countries in today’s increasingly competitive environment. Entrepreneurship is especially vital in the strategic management process and the creation of strategic plans. Strategists or strategic planners are involved in creating solutions to problems or finding new ways to take advantage of opportunities. They need to be forward thinking. It is not uncommon in larger organizations to have a whole department involved in the strategic  planning of an organization where these key creative entrepreneurial thinkers form the future
Recommended
View more...
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks