Research On The Strategic Decision-making Pocess Of Top Management Team Towards Time-based Competition

After entering the 21^st century, the surviving environments for the enterprises becomes gradually complex. The companies constantly optimize the capital operation, the customer demand become more and more personalized and the product and service life cycle is shortened, it become important issues facing by the top management team to apply the time-based competitive strategy in their strategic decision-makings. The enterprise top management decision-makers have realized that in the rapidly changing market domain, only the fast and scientific strategic decisions can enable the enterprises' rapid response to the fast changing environment. However, in reality, fast decisions are often incorrect, and the correct decisions are usually slow. Therefore, it has an important theoretic value and practical significance to research on how to achieve the fast and accurate strategic decision in the new competitive environment. This research take the perspectives from the aspects of the team optimize configuration, team leaders style, team behavioral integration and the strategic decision-making mechamsm in the enterprise top management team' strategic decision-making process, systematically studies the process of how business top management team realize the rapid and correct strategy decision, and mainly obtains the creative achievements as follows.Firstly, the thesis constructs the conceptual model of the Time-based Competition (TBC) strategic decision-making process of the enterprise top management team, according to the upper echelons theory and the strategic decision-making theory, and applying the key events technique and behavioral event interview method. On the basis of the literature review, and by adopting Simon's theory of decision-making process, the conceptual framework of the strategic decision-making research is established. On this basis, the survey and cases interviews with executives are conduct, and the conceptual model of the Time-based Competition strategic decision-making process of the enterprise top management team is established by using content analysis method to process the interviews data, and empirically analyzing the time distribution at all stages of the corporate strategic decision-making to reveal the time phased characteristics of its decision-making process. Secondly, the research on the enterprise top management team characteristics influence on the strategic. decision speed was conducted empirically. It reveals the demography and heterogeneity characteristics that influencing the enterprise top management team strategic decision-making speed, constructs the evaluation index system of executive team strategic decision-making speed, and establishes the configuration optimization model based on the strategic decision speed by adopting the multiple regression analysis method, which provides a theoretical and practical guidance for the optimized allocation of the corporate team in such a dynamic and competitive environment.Thirdly, the research revises Simsek' (2005) team behavior integration scale through the exploratory and confirmatory factor analysis of the original data collected by interviewing and semi-structured questionnaire. It also reveals the function mechanism among the top management team leadership style, top management team behavioral integration and speed of strategic decision-making, through the structural equation modeling and multiple regression analysis. And the model that illustrating the relationship between the team behavioral integration mechanism and the decision-making speed in the top management team strategic decision-making process is constructed by applying the theories of the team trust, knowledge integration, social capital and team creativity.Finally, based on the literature and empirical study, four different kinds of the decision-making mechanisms are comparatively analyzed .And put forward the selection mechanism of the enterprise executive team strategic decision-making based on the game theory, and the influencing of such factors as the team leadership style, participation of the decision consultant, conflict resolution, the decision power of the team member and strategic decision situations etc. on the strategic decision speed is analyzed, thus it establishes the contingency model of the enterprise top management team strategic decision-making mechanism.