Abstract

Strategic managers today are faced with five critical judgment calls when formulating strategies for their companies: (1) Approaching strategy as an art or as a science, (2) publicizing the strategy or maintaining its secrecy, (3) seeking strategic consistency over the long term or maintaining flexibility, (4) embracing strategic risk or avoiding it, and (5) adopting a top-down or a bottom-up approach to strategic planning. This paper compares American and Mexican managers along these five areas. Findings suggest that conventional wisdom on differences between American and Mexican managers in strategy formulation may not be true. Future research directions are also provided.