Management control systems and strategy change in buyouts |
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| Institution: | 1. Department of Business and Organisation, Rotterdam School of Economics, H1 5-26, Erasmus University, P.O. Box 1738, 3000 DR Rotterdam, The Netherlands;2. Centre for Management Buy-out Research, Nottingham University Business School, Erasmus University, Nottingham, The Netherlands;1. University of Bern, Institute of Organization and Human Resources Management, Engehaldenstrasse 4, 3012, Bern, Switzerland;2. University of Witten-Herdecke, Witten Institute for Family Business, Alfred-Herrhausen-Straße 5058448 Witten, Germany;3. The University of North Carolina at Charlotte, 9201 University City Blvd, Charlotte, NC, 28223-000, USA;4. WHU – Otto Beisheim School of Management, Burgplatz 2, 56179, Vallendar, Germany;1. Aalto University, Finland;2. Lund University, Sweden;1. Department of Accounting, Deakin University, Australia;2. Adelaide Business School, The University of Adelaide, Australia;1. University of Sussex, UK;2. Stockholm School of Economics, Sweden;3. Victoria University of Wellington, New Zealand;4. Victoria University of Wellington, New Zealand;1. University of Auckland, Department of Accounting and Finance, Private Bag 92019, Auckland 1142, New Zealand;2. Cranfield School of Management, Cranfield, Bedford, United Kingdom;3. Satori Partners Ltd., Glencairn, Holmesdale Road, South Nutfield, Surrey RH1 4JE, United Kingdom |
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| Abstract: | The impact of management buy-outs (MBO) on strategy and management control systems (MCS) is little understood. Previous research by Ace. Org. Soc. 17 (1992) 151] focused on efficiency-enhancing buy-outs that were a feature of the early development of the market. However, MBOs are heterogeneous and more recent developments have involved ownership changes that stimulate entrepreneurial practices. The novel contribution of this paper is to use Simons’ Levers of Control: How Managers Use Innovative Control Systems to Drive Strategic Renewal, Harvard Business School, Cambridge, MA, USA] classification of beliefs systems, boundary systems, diagnostic and interactive control systems to explore management control in these newer forms of MBO. Within-case analysis and cross-case comparisons from two buyout firms are used to capture the interaction between management control systems and competitive strategy formulation, implementation and modification. This evidence supports arguments that buy-out managers undertake efforts in balancing the traditional systems with the newer systems that stimulate opportunity-seeking and learning. |
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