Academic journal article Iranian Journal of Management Studies

Analyzing Divergent Perspective about Strategic Direction in the Export Development Bank of Iran (EDBI): Research Based on Q-Methodology

Academic journal article Iranian Journal of Management Studies

Analyzing Divergent Perspective about Strategic Direction in the Export Development Bank of Iran (EDBI): Research Based on Q-Methodology

Article excerpt

Introduction

Strategic planning is a method for composing a plan which relates the overall vision of a company or organization down to the individual programs and activities necessary to accomplish it. Strategic planning is best defined as looking at where you want to go in the future and putting together the resources, assets, and personnel to get there. What differentiates strategic from other forms of planning is the focus on a broader goal for the future (Raczynski, 2008, p.4).

Bryson (1988) stated, what does strategic planning look like? Its most basic formal requirement is a series of discussions and decisions among key decision makers and managers about what is truly important for the organization, and those discussions are the big innovation that strategic planning brings to most organizations. Because in most organizations key decision makers and managers from different levels and functions almost never get together to talk about what is truly important. They may come together periodically at staff meetings, but usually to discuss nothing more important than, for example, alternatives to the organization's sick-leave policy, or they may attend the same social functions, but there, too, it is rare to have sustained discussions of organizationally relevant topics. Actually, corporate strategy includes the development of weighted and ranked scenarios; it leads to forward-thinking decisions, keeps the performance monitored and holds a few fallback-options up management's sleeve. Corporate strategy is an ongoing executive process targeting sustainable, competitive advantage; it involves not only top-management's own view, but also key stakeholders' Perspectives (Bachmann, 2009, p.335).

Studies documenting strategic planning applications in the corporate setting have illustrated that planning results are enhanced when strategic planning is integrated with an issues management function. Bryson (1988) outlined three attributes of effective strategic planning: An effective system will explore a wide range of possible futures; A static plan becomes valueless in times of change; and An effective system will attempt to satisfy environmental constraints.

The Export Development Bank of Iran (EDBI) is the only Exim bank of Iran. Its mission is to facilitate and finance exports and expand international trade, relying on its recourse to use of governmental funds. It tries to use new technologies to offer new services to exporters, but it is always possible changes in economic conditions resulted in entirely new currency price, new business partners, new exporter expectations, and new competition. In planning for the future, the strategic planners of the bank felt using an issue management model would have limited results because such models focus solely on issue identification. According to Mintzberg et al. (1998), strategic planners have different points of view about strategic directions. Thus, the strategic planners turned to the cognitive school of strategic planning (strategists are largely self-taught: they develop their knowledge structures and thinking processes mainly through direct experience. That experience shapes what they know, which in turn shapes what they do, thereby shaping their subsequent experience). It allows the bank to take advantage of the operational knowledge levels of the bank's three strategic planners groups (board members, top and middle managers). So, to identify consensus areas among these three groups and the alternative perspectives (that might arise from discussion) Q methodology could be used. Van Exel and De Graaf (2005) argued Q Methodology is a research method used in psychology and in social sciences to study people's "subjectivity"- that is, their viewpoint. The methodology is particularly useful when researchers wish to understand and describe the variety of subjective viewpoints on an issue. The name "Q" comes from the form of factor analysis that is used to analyze the data. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.