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Purpose: This paper investigates the impact of Marta Ortega's succession on the closing prices of Inditex. The paper highlights the meticulous succession planning orchestrated by Amancio Ortega, Marta Ortega's extensive involvement in the business, and the supportive family dynamics that facilitated a smooth transition. This study challenges conventional notions about women in family successions and underscores the importance of effective planning and successor preparation in family businesses. Methodology: In this article we use daily data of closing prices of INDITEX from January 3, 2011, until November 29, 2023. The methodology used is based on the concept of fractional integration. Results: Contrary to market expectations, the results reveal a positive trend in closing prices following Marta Ortega's assumption of the non-executive chairman position. The prices showed some evidence of mean reversion and thus inefficiency, though, at the same time, a positive significant trend was observed in the price of the company since then. Research limitations: This research is not without limitations, which open the way for future research. This research is a case study. The results may be limited by our sample. Other female successions and their impact on closing prices should be investigated. This would help to increase research on the effects on the company following female succession. Another limitation of the study concerns the period investigated. It will be interesting to review the results obtained when the period elapsed since the succession is longer. Practical implications: This research helps to avoid the negative stereotypes associated with female succession in companies. Originality: This research will help to understand how generational handover occurs in family businesses when the heir is also a woman. [ABSTRACT FROM AUTHOR]

Average cumulative abnormal returns around proxy statements containing "in-depth" disclosures of planning for CEO succession are significantly positive indicating that succession planning is a value-added undertaking. Exploiting a quasi-natural experiment based on a 2009 SEC ruling that induced more succession planning disclosures, we find that succession planning is not value-adding for all firms. Rather, succession planning is value-enhancing for larger, more complex, and more stable firms. Importantly, CEO succession planning appears to be value reducing for smaller, simpler, and less stable firms. [ABSTRACT FROM AUTHOR]

The given text explores the television series "Succession" and its portrayal of corporate decision-making, power dynamics, and organizational structures. It highlights the limitations of traditional theories and strategies in capturing the complexities of corporations. The text suggests that the show offers valuable insights into understanding contemporary corporations and their impact on society. It does not provide any specific details about the content or plot of the show. [Extracted from the article]

This study was conducted to gain first-hand insight into the attitudes, beliefs, values, and experiences of the targeted managers regarding executive leadership succession planning and its implementation in Namibia’s commercial public enterprises. The primary data collection for this study was qualitative and quantitative. The total population of the study was 63 participants, derived from 22 commercial public enterprises. The study developed a succession management framework for Namibian organizations called the Muadinohamba succession development progression framework, a tool for planning leadership succession in Namibian companies. The framework’s elements include making succession planning a key performance metric, setting a mandated retirement age, educating managers on succession practices, and providing a structured succession process. This study suggests that, in addition to researching leadership, companies within a specific cultural context should research leadership succession plans and implementation processes due to existential differences. [ABSTRACT FROM AUTHOR]

In the age of Post COVID Resilience and Digitization, strategic issues in leadership research have gained prominence. Succession planning is one of such topics of strategic Human Resource Management (SHRM) which is considered by corporate boards as a major concern as it provides a way for business continuity. It is quite an important aspect for most of the start-up enterprises of modern times as they have to ensure its business continuity through the availability of strong leadership bench strength. Having a good successor on key management positions will ensure a family legacy for upcoming generations. Past literature offers insight that corporate firms including family and standalone groups have observed many challenges in terms of loss of leadership on key management positions due to the lack of a proper succession plan in place. In this study, it has attempted to explore various insights related to succession planning and its linkages to executive compensation in corporate firms having diversified business portfolios. Findings provide a fresh perspective on succession planning and executive compensation which is equally important for practitioners and new-age start-ups. [ABSTRACT FROM AUTHOR]

Despite intense scrutiny from investors, markets, and regulators, many public companies have no formal succession plans. Anecdotal evidence links succession risk to significant value destruction, but there is limited academic research evaluating the effects of succession planning on chief executive officer (CEO) turnover outcomes. We provide evidence that succession planning reduces the cost of management transitions by improving their efficiency. Firms with succession plans experience not only lower uncertainty around turnover events but also a faster reduction in uncertainty over the incoming CEO's tenure, consistent with faster learning about CEO-firm fit. Succession planning also raises the quality of the CEO-firm match, as evidenced by longer CEO tenure, and improves the board's readiness to replace an underperforming CEO, increasing turnover performance sensitivity. This paper was accepted by Suraj Srinivasan, accounting. Supplemental Material: The data are available at https://doi.org/10.1287/mnsc.2022.4572. [ABSTRACT FROM AUTHOR]

We apply the psychosocial concept of generativity, or one's outlook toward the next generation, to the context of chief executive officer (CEO) succession. Integrating prior research on generativity and CEO succession, we identify two key orthogonal dimensions of CEO generativity: (a) the CEO's degree of commitment to developing the next generation of company leadership and (b) the CEO's degree of need to control the succession process and outcome. A given CEO's place on these two dimensions constitutes their overall "generativity mindset," which we conceptualize as a relatively stable motivational orientation that stems from the CEO's disposition and accumulated life experiences. From these dimensions, we identify four archetypes: the generative, hyper-generative, hypo-generative, and anti-generative CEO. We then specify how the alternative archetypes affect an array of CEO actions throughout the CEO's tenure, especially the CEO's approach to assessing and developing executives for advancement. These various actions lay the foundation for eventual succession outcomes, particularly the nature of the succession and the origin and preparation of the selected successor. The final part of our model inserts the board of directors as a potentially moderating influence in all the foregoing relationships. We conclude with an overview of follow-on research opportunities. [ABSTRACT FROM AUTHOR]

The article discusses the importance of leadership development and succession planning for physicians to become effective advocates and managers, as well as to maintain patient and provider satisfaction. It highlights the risks of not implementing a succession planning process and provides suggestions for developing a plan.

Despite substantive organizational ramifications, surprisingly little theory explains executive succession planning processes. A firm’s board of directors has the fiduciary responsibility to select CEOs, but, historically, boards have failed to exercise this authority. Increasing focus on corporate governance has prompted directors to become more engaged in organizational management, but boards face significant barriers to gathering and processing information. However, there is a dearth of research examining how boards overcome informational barriers to enhance decision-making effectiveness. Accordingly, the current study integrates procedural rationality in decision-making with research on boards as information-processing groups to explore how and why boards conduct succession planning processes. Procedural rationality results in formalized processes designed to collect essential information about CEO succession candidates; these processes, in turn, lead to a greater quantity and quality of CEO succession candidates. We also illustrate how CEOs can influence the effectiveness of board information gathering and processing. The tests of the theoretically generated hypotheses rely on in-depth qualitative interviews, coupled with unique survey and archival data from 355 firm-year observations of 218 large organizations, collected over three years. [ABSTRACT FROM AUTHOR]

We document an unusual surge in fraud investigations for family firms with multiple sons who compete for leadership successions. Shareholders negatively react to the news, while such fraud investigations are concentrated in firms run by families with extensive internal conflicts, leading to strong whistle-blowing incentives inside the family (i.e., sabotage). Using the sudden death of a chairman as an exogenous shock that increases conflicts among potential heirs of the family firm, we find sharply increasing fraud investigations after the chair's death. Overall, our results shed new light on the significant spillover from family governance to corporate governance in family-run organizations. [ABSTRACT FROM AUTHOR]

Organisations need to ensure that the appropriate people are in place with the required values, skills and competencies that are necessary to bring about change and accomplish goals to drive organisational strategy forward. The purpose of this study was to investigate the influence of organisational strategy, recruitment strategy and organisational culture on succession planning in the Department of International Relations and Cooperation (DIRCO) in South Africa. The study is located within a quantitative paradigm and data was collected through a self-administered questionnaire. The target population comprised employees (from entry level to executive levels) of DIRCO based in the Gauteng province as well as 127 South African Embassies and Consulates in foreign countries. Descriptive analysis was used in the analysis of the sample composition and participants' perception of succession planning at DIRCO. Furthermore, confirmatory factor analysis and structural equation modelling (SEM) were used to assess model fit and to test the hypotheses. The findings revealed that no significant relationship was observed between the organisational strategy and succession planning in DIRCO, while a negative relationship between recruitment strategy and succession planning was observed. A positive relationship between organisational culture and succession planning was confirmed. The results confirm that the recruitment strategy of DIRCO does not create opportunities for identification of internal talent. In order to address these deficiencies, it is recommended that DIRCO identify, mentor and promote diverse pools of internal candidates through succession planning [ABSTRACT FROM AUTHOR]

In this article, the authors discuss how taking a holistic approach to the succession planning process provides clients with the most value for their businesses, minimizes their tax burdens, and allows them to control the processes. [ABSTRACT FROM AUTHOR]

The world is experiencing unprecedented changes and the challenges global corporations face are reshaping what it means to lead in turbulent times. Few studies have sought to look at the experiences of female chief executive officers (CEOs) relative to how they strategize corporate transformation. This study is designed to advance the knowledge of how women appointed to CEO positions navigate the responsibility of managing failing conglomerates. While ample research shows situational factors that got women to their positions, there is little research that shows what keeps them there. The problem addressed is fundamental to the development of women for CEO succession in global corporations. The central question asked is, "What are the experiences of female CEOs in transforming downward performing corporations?" To frame the central question, a systems archetype is used as a diagnostic tool for understanding the complexities present within the business environment that affect strategy formulation and performance. [ABSTRACT FROM AUTHOR]

Research Summary: Extant research rarely explores the relationship between executive compensation and chief executive officer (CEO) succession planning, despite practitioner claims that executive pay disparities indicate succession planning (in)effectiveness. Leveraging signaling theory, we use 830 succession events from 2010 to 2017 to show that pay disparity between the CEO and the highest paid non‐CEO executive is positively related to the likelihood of outside CEO succession. Thus, boards need to be aware of the implications of possible unintentional signals sent via executive compensation decisions. We do not find evidence of an interactive effect when compensation and CEO succession are co‐managed using linking pin directors—directors with compensation and CEO succession responsibilities—but supplemental analyses suggest a positive main effect of linking pin directors on the likelihood of inside CEO succession. Managerial Summary: Powerful watchdog agencies assert that high pay differences between a firm's CEO and its next highest paid executive (CEO–HPE pay disparity) indicate succession planning challenges. This assertion has profound implications for stakeholders, but evidence supporting it is unclear. Our study examines the relationship between CEO–HPE pay disparity and the board's choice of an outside CEO, an indicator of ineffective succession planning. We find evidence that higher pay disparity signals an increased likelihood of choosing an outside CEO successor. We also find that boards who co‐manage compensation and succession may be more likely to hire an inside CEO successor. Our findings suggest that boards need to understand how compensation decisions may be inadvertently signaling future CEO succession choices. [ABSTRACT FROM AUTHOR]

Academic and research libraries are joining together to identify and better prepare the next generation of library directors. The Research Library Leadership Fellows (RLLF) Program takes a new approach to succession planning by engaging a select group of sponsoring libraries, approximately 20 emergent leaders, and the membership of the Association Research Libraries working collaboratively over a 2-year period. This approach assumes a well-developed set of management and leadership skills on the part of the fellow. The program focuses instead on deepening the fellow's understanding of core strategic challenges facing senior library leaders in a wide variety of campus settings. The RLLF embraces 3 5-day, on-campus institutes, 1-2 site visits to sponsoring libraries, and participation in the semiannual Association of Research Libraries (ARL) membership meetings. The program also provides network-building among the fellows, Web-based sessions on key issues, and access to ARL member-library directors as colleagues and potential mentors. To date, more than 60 librarians from ARL member libraries have participated in the program. This article describes the context for the development of the program, its operation, the experiences of the first 3 cohorts, and suggestions for the future of succession planning in research libraries. [ABSTRACT FROM AUTHOR]

Although practitioners and academics alike have argued for succession planning practices that facilitate better talent identification and creation of stronger “bench strength,” there has been little attention to the incorporation of gender and racial diversity with succession planning.We discuss practices and competencies for incorporating diversity with succession planning and identify methods for developing women and minorities as successors for key positions. Improvements in strategy, leadership, planning, development, and program management processes are suggested. Recommendations for process improvement are developed from the diversity and succession planning literatures and interviews of 27 human resource professionals from a broad range of industries. © 2008 Wiley Periodicals, Inc. [ABSTRACT FROM AUTHOR]

This study seeks to reconcile inconsistent findings on the performance consequences of new CEO origin. Drawing on five decades of empirical research on CEO succession outcomes, I develop a more refined theoretical conceptualization and a finer-grained measurement of the underlying construct of the insider vs. outsider CEO, and build and test a more comprehensive and nuanced framework of the succession context. A longitudinal investigation of the U.S. airline and chemical industries (1972–2002) indicates that new CEO ‘Outsiderness’, conceptualized as a continuum raging from new CEOs who have a greater combination of firm and industry tenure to those who have no experience in the firm and the industry, has no main effect on post-succession firm performance. However, significant moderating effects are found when environmental munificence, pre-succession firm performance, and concomitant strategic and senior executive team changes are considered. Together, these findings highlight the need to consider both pre- and post-succession contextual factors for evaluating the performance effects of new CEO outsiderness. Copyright © 2007 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

In view of recent corporate scandals, we argue that corporate governance can learn from public governance. Institutions devised to control and discipline the behavior of executives in the political sphere can give new insights into how to improve the governance of firms. We discuss proposals in four specific areas: manager compensation, the division of power within firms, rules of succession in top positions, and institutionalized competition in core areas of the corporation. [ABSTRACT FROM AUTHOR]

This study uses a large sample of firms to examine how human capital considerations affect the process of CEO succession. Costs and benefits of succession planning are affected by a firm's level of operational complexity and human capital requirements; firms that are more complex incur greater costs to transferring firm-specific knowledge and expertise to an outsider, and should be more likely to groom an internal candidate for the CEO position. Consistent with this, I find that a firm's propensity to groom an internal candidate for the CEO position is related to firm size, degree of diversification, and industry structure. My results also suggest that succession planning is associated with a higher probability of inside succession and voluntary succession and a lower probability of forced succession. I also provide evidence that horizon problems are mitigated to some extent by having a succession plan. [ABSTRACT FROM AUTHOR]

Taking an organizational learning and adaptation perspective, we compared "relay" CEO successions with nonrelay inside successions and outside successions. Data on 204 CEO successions between 1993 and 1998 in nondiversified U.S. manufacturing firms showed that the likelihood of relay succession was negatively associated with the number of internal candidates and positively associated with presuccession firm performance. We also found that relay successions led to better postsuccession firm performance, particularly at lower levels of presuccession firm performance and higher levels of postsuccession strategic and industry instability. [ABSTRACT FROM AUTHOR]

We present a model of succession in a firm owned and managed by its founder. The founder decides between hiring a professional manager or leaving management to his heir, as well as on what fraction of the company to float on the stock exchange. We assume that a professional is a better manager than the heir, and describe how the founder's decision is shaped by the legal environment. This theory of separation of ownership from management includes the Anglo-Saxon and the Continental European patterns of corporate governance as special cases, and generates additional empirical predictions consistent with cross-country evidence. [ABSTRACT FROM AUTHOR]

Using a game theoretic approach and integrating research on managerial succession, family businesses, and transaction cost economics, we examine how the degree of idiosyncrasy of a family business and the ability of the family's offspring affect succession. Contrary to the popular belief that successors to family businesses are often offspring because of nepotism, we propose an economic rationale that this is due to the appropriation risk and the agency paradox that family businesses encounter in engaging agents. [ABSTRACT FROM AUTHOR]

We classified newly chosen CEOs' origins into three categories: intrafirm, intraindustry, and outside-industry, and examined their firm-level and industry-level antecedents. In a sample of 220 CEO successions between 1993 and 1998, intrafirm succession was positively associated with the presence of an heir apparent and the number of nonheir inside directors. Intraindustry succession was positively associated with strategic homogeneity among industry firms and a focal firm's strategic conformity to industry central tendencies. [ABSTRACT FROM AUTHOR]

This paper explores how motivating an incumbent CEO to undertake actions that improve the effectiveness of his management interacts with the firm's policy on CEO replacement. Such policy depends on the presence and the size of severance pay in the CEO's compensation package and on the CEO's influence on the board of directors regarding his own replacement (i.e., entrenchment). We explain when and why the combination of some degree of entrenchment and a sizeable severance package is desirable. The analysis offers predictions about the correlation between entrenchment, severance pay, and incentive compensation. [ABSTRACT FROM AUTHOR]

Our study examines investor reactions to a specific form of succession planning--relay succession. Theory predicts that both the initiation and the outcome of a relay CEO succession process will influence shareholder wealth. Our results show that investors generally do not react to the initiation of the process as indicated by heir apparent appointment; but react negatively when the process ends in heir apparent exit from the firm and react positively when the process ends in heir apparent promotion to the CEO position. We also found a strong positive investor reaction to outside CEO promotion and a negative investor reaction to nonheir inside CEO promotion. Further, firm performance exerts an important influence on the wealth effect of heir apparent promotion and exit. [ABSTRACT FROM AUTHOR]

'Heirs apparent' are frequently a central component of CEO successions but have been largely ignored in the succession literature. The authors' study examines heir apparent tenures and two contrasting outcomes--promotion to CEO and firm exit. The authors propose that the distribution of power among an incumbent CEO, outside directors, and an heir apparent influences these outcomes. Results suggest that outside director and CEO power are important influences on heir promotion and exit and that heirs who arise from within a firm are less likely to exit. [ABSTRACT FROM AUTHOR]

In this note we respond to Harris and Helfat's (1998) reinterpretation of the results in Worrell, Nemec, and Davidson (1997). Harris and Helfat argued that the negative stock market response associated with plurality announcements could be the result of inadequate corporate succession planning rather than with the agency cost explanation. Our results, here, show that duality and plurality announcements do not hurt shareholder wealth as long as there is an heir apparent and, therefore, are more consistent with the succession planning explanation than with agency theory. [ABSTRACT FROM AUTHOR]

A common definition of high potential in many organizations consists of a right stuff' success profile listing several competencies that current executives have now or should have in the future. The identification process consists of looking for early signs of those skills in those less experienced. This approach makes sense. Many attributes such as intelligence and certain personal traits typically found on those succession planning profiles are known to be stable over a long period of time. To deal with change, organizations need to find and nurture those who are most facile in dealing with it. Identifying those who can learn to do something differently requires a unique measurement strategy-different from those often employed, one that looks at the characteristics of the learning agile. In this article, researchers have explained some initial steps toward identifying the women and men with the most potential to lead, regardless of what the future may hold for them.

This paper follows an institutional theory of action in exploring the consequences of formal and informal rules on the chief executive officer (CEO) succession process. An analysis of the competing risks of insider versus outsider CEO succession in U.S. industrial corporations provides evidence that boards rely on both past precedents and formal internal labor markets for executive succession and the selection of insiders versus outsiders as CEOs. To exclude alternative explanations that view rules as epiphenomenal, I examine the moderating effects of performance, late CEO departures, the founder's power, and board structure on reliance on rules. The results show substantial inertia in the rules of CEO succession, consistent with an institutionalized action perspective. The findings suggest that rules both enable and constrain board decision making. [ABSTRACT FROM AUTHOR]

Manuscript Type Empirical Research Question/Issue: This paper seeks to understand the way in which CEO succession planning affects firm performance and volatility during CEO turnover. Specifically, the paper examines a succession type referred to as relay succession, in which the incoming CEO has been groomed as an heir apparent before the turnover. Research Findings/Insights: Heirs apparent are identified by comparing all of a firm's non‐CEO top executives' promotion likelihood estimated based on a set of characteristics. Applying this heir apparent measure to a large sample of CEO turnovers from ExecuComp, the paper delivers robust evidence that firms with relay successions achieve higher post‐turnover accounting performance, higher long‐term stock returns, and lower volatility. Further, the positive effect of relay succession on performance is stronger for firms with higher human capital requirements. Theoretical/Academic Implications: The paper provides comprehensive evidence of the important role of relay succession in smoothing CEO transitions. It also sheds new light on previous research on outside successions by showing that the difference between inside and outside successions is explained largely by the length of relay. Practitioner/Policy Implications: The paper suggests that firms should consider using relay succession to improve performance and reduce volatility during the CEO transition period. The paper's findings also support the US Securities and Exchange Commission's recent appeal for more firm disclosure on its succession planning. [ABSTRACT FROM AUTHOR]

In response to Harris and Helfat's commentary on our article, 'One hat too many: Key executive plurality and shareholder wealth,' we suggest that their arguments are quite plausible, but we believe further empirical tests are needed. These proposed tests are described in our response. [ABSTRACT FROM AUTHOR]

Based on 134 CEO succession events in nondiversified manufacturing firms, this study examines the relationships between industry structure and the characteristics of CEO successors. The paper also explores the performance implications of the fit between industry structure and CEO successors. Results indicate that industry structure plays an important, but not pervasive, role in explaining variations in newly selected CEOs. Specifically, the higher the level of industry product differentiation, the lower the organizational tenure, the higher the educational level and the greater the likelihood of a nonthroughput background in the CEO successor the higher the industry growth rate, the lower the organizational tenure and age of the CEO successor. However, findings provide very limited support for the normative view that firms which match CEO successor characteristics to industry structure realize better postsuccession performance than those with lower levels of fit. [ABSTRACT FROM AUTHOR]

Based on 195 succession events in Business Week 1000 firms, this study examines the organizational antecedents of CEO demographic characteristics. Study findings suggest that antecedent conditions of lower firm profits and firm growth are associated with the selection of outsider CEOs. Additionally, R&D intensity is associated with the selection of CEOs having technical functional backgrounds and higher levels of education. [ABSTRACT FROM AUTHOR]

This study examines the anticipated tenure of the chief executive officer (CEO) from the incumbent's point of view. An analysis of approximately 1500 questionnaires returned by corporate presidents reveals that anticipated tenure is generally little affected by whether the CEO is recruited from within or from outside the organization. However, under conditions of formalized succession planning and when confronted with specific problems, such as modernizing operations, mandates to increase sales, and merger operations, there exist differences in anticipated tenure between inside and outside recruited CEOs. These differences are discussed in terms of their implications to corporate level succession planning. [ABSTRACT FROM AUTHOR]

The article discusses research pertaining to the impact of organizational size on inside versus outside executive succession. The study results indicate that larger organizational size is associated with greater incidence of inside executive succession. In the study smaller companies were more than twice as likely to experience outside succession. Experts say outside succession is perceived as risky and disruptive to organizations. They also speculate that larger organizations may have several characteristics which impede the selection of outside successors.

The article discusses the results of a research which examined the specific aspects of performance and environmental volatility that might be related to the event of executive succession. The authors analyzed data from 313 large industrial firms gathered by "Fortune". The authors investigated data that contained information on the market environment, strategy, and performance of organizations. Succession was labeled as either present or absent for each firm against financial performance in terms of return on assets. Thirty one percent of the sample experienced managerial succession. Profits were found to be a weak predictor of executive succession. Divestiture and mergers were found to be significant predictors of succession.

This paper addresses the problem of control loss in hierarchies. Data on 215 departments (aggregated from 2,363 individual questionnaires) show that behavior control and output control differ sharply in transmission. Behavior control shows almost no interlevel consistency, while output control is transmitted through three levels of hierarchy with relatively little loss. Further analysis suggests that behavior control is determined by local, particularistic conditions and therefore cannot be expected to show high interlevel consistency or transmission. [ABSTRACT FROM AUTHOR]

The professional background and tenure of hospital administrators were examined in relation to organizational size, competition for funding and staff, relations with the local business community, and sources of funds. The results are consistent with Thompson's (1967) argument that succession to leadership positions is related to the ability to cope with organizational uncertainties. [ABSTRACT FROM AUTHOR]

To explain patterns of political dynamics, this paper develops a model of the circulation of power and compares it with an alternative model, the institutionalization of power, in an event history analysis of CEO succession. The circulation of power emphasizes the internal contests for control and opposition to the CEO that emerge with increased executive tenure and under conditions of economic adversity. The study finds support for an increasing rate of CEO succession during the first decade of tenure, consistent with the model of circulation, followed by a slow decline afterward, consistent with institutionalization. The effects of economic adversity were found to trigger circulation when combined with long prior board tenure and large board size. Also, contrary to conventional views, under economic adversity, more inside board members increase CEO succession. [ABSTRACT FROM AUTHOR]

To investigate the relationships among CEO succession, CEO career specializations, and diversification strategy, this study examined a 25-year history of a stratified sample of 173 companies from the Fortune 1000 list in which there were 370 cases of CEO succession. Two issues were examined: (1) the relationship between the former CEO's career specialization and that of the successor and (2) the relationship between the previous strategy and the successor's career specialization. The results generally indicated that in cases of succession, the former CEO's career specialization and the previous strategy simultaneously, but independently, predict the successor's career specialization. Specifically CEOs tend to be succeeded by individuals with similar career specializations. in addition, the premise that career specializations are linked to strategies is also supported. [ABSTRACT FROM AUTHOR]

The article examines the managerial styles and philosophies of Mideastern executives. The author discusses the attitude toward management practices and the satisfaction of need and importance in a Maslow categorization. The author states that the culture affects the hierarchy of needs for managers and the need for hierarchy is apparently not borne out on a cross-cultural basis and has not generally been confirmed. The article also discusses differences in Mideastern and Western management.