| Abstract: | This is the first of two papers in this issue on how business decisions are made. The origins of corporate strategy and policy and the involvement of senior and junior management in such activities are theoretically difficult to generalize about. In these papers four well-known British firms are examined in depth. Their evolution over time is analysed and how managerial behaviour and perceptions changed is discussed. The conclusion is drawn that firms have been decentralizing in the last two decades in order to provide greater scope for managerial initiative, training and entrepreneurship at all levels. Part 2 contains the detailed evidence: some readers may prefer to consider it immediately after Section 1 below. |
