Key success factors for implementing strategy in the Icelandic fisheries industry
Purpose This study focuses on the key success factors (KSFs) for strategy implementation in the fisheries industry in Iceland identified by chief executive officers within the industry. The purpose is to provide a comprehensive categorization of KSFs that influence how strategy is mobilized. The sec...
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cremerald:10.1108/jsma-04-2023-0069 2024-06-09T07:47:13+00:00 Key success factors for implementing strategy in the Icelandic fisheries industry Vigfússon, Kristján Jóhannsdóttir, Lára Ólafsson, Snjólfur Köseoğlu, Mehmet Ali 2024 http://dx.doi.org/10.1108/jsma-04-2023-0069 https://www.emerald.com/insight/content/doi/10.1108/JSMA-04-2023-0069/full/xml https://www.emerald.com/insight/content/doi/10.1108/JSMA-04-2023-0069/full/html en eng Emerald https://www.emerald.com/insight/site-policies Journal of Strategy and Management ISSN 1755-425X journal-article 2024 cremerald https://doi.org/10.1108/jsma-04-2023-0069 2024-05-15T13:22:15Z Purpose This study focuses on the key success factors (KSFs) for strategy implementation in the fisheries industry in Iceland identified by chief executive officers within the industry. The purpose is to provide a comprehensive categorization of KSFs that influence how strategy is mobilized. The secondary aim is to uncover the level of priority that companies place on the dimensions of the United Nations (UN) Sustainable Development Goals (SDGs). Design/methodology/approach The methodology involves qualitative case studies based on in-depth elite interviews with nine chief executive officers of Icelandic fishing companies. Findings The research indicates strategy implementation can be improved in four main areas. First, by engaging and involving all employees in the implementation process. Second, by enhancing bottom-up innovation and communication. Third, through alignment of the corporate strategy and the UN SDGs, and fourth, by following rigorous action plans with clear, measurable and prioritized objectives and timeframes for the managers to follow. These improvements have both theoretical and practical implications for the fishing industry. Consequently, a conceptual framework for integrated strategy implementation in the fisheries industry is proposed. Research limitations/implications A limited number of in-depth elite interviews were conducted since access to the chief executive officers of the country’s largest fishing companies proved challenging. However, the nine companies collectively hold nearly 50% of the country’s total quota, thereby proving a deep understanding of the topic relevant to the industry. The research uncovered a substantial cross-section of viewpoints, and as such, the results are relevant for both academia and practitioners alike. Originality/value This study contributes to the debate on KSFs relevant to strategy implementation within a specific industry but also aligns with the UN SDGs by proposing a dedicated framework for implementing strategies in the fisheries industry. ... Article in Journal/Newspaper Iceland Emerald Journal of Strategy and Management |
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cremerald |
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English |
description |
Purpose This study focuses on the key success factors (KSFs) for strategy implementation in the fisheries industry in Iceland identified by chief executive officers within the industry. The purpose is to provide a comprehensive categorization of KSFs that influence how strategy is mobilized. The secondary aim is to uncover the level of priority that companies place on the dimensions of the United Nations (UN) Sustainable Development Goals (SDGs). Design/methodology/approach The methodology involves qualitative case studies based on in-depth elite interviews with nine chief executive officers of Icelandic fishing companies. Findings The research indicates strategy implementation can be improved in four main areas. First, by engaging and involving all employees in the implementation process. Second, by enhancing bottom-up innovation and communication. Third, through alignment of the corporate strategy and the UN SDGs, and fourth, by following rigorous action plans with clear, measurable and prioritized objectives and timeframes for the managers to follow. These improvements have both theoretical and practical implications for the fishing industry. Consequently, a conceptual framework for integrated strategy implementation in the fisheries industry is proposed. Research limitations/implications A limited number of in-depth elite interviews were conducted since access to the chief executive officers of the country’s largest fishing companies proved challenging. However, the nine companies collectively hold nearly 50% of the country’s total quota, thereby proving a deep understanding of the topic relevant to the industry. The research uncovered a substantial cross-section of viewpoints, and as such, the results are relevant for both academia and practitioners alike. Originality/value This study contributes to the debate on KSFs relevant to strategy implementation within a specific industry but also aligns with the UN SDGs by proposing a dedicated framework for implementing strategies in the fisheries industry. ... |
format |
Article in Journal/Newspaper |
author |
Vigfússon, Kristján Jóhannsdóttir, Lára Ólafsson, Snjólfur Köseoğlu, Mehmet Ali |
spellingShingle |
Vigfússon, Kristján Jóhannsdóttir, Lára Ólafsson, Snjólfur Köseoğlu, Mehmet Ali Key success factors for implementing strategy in the Icelandic fisheries industry |
author_facet |
Vigfússon, Kristján Jóhannsdóttir, Lára Ólafsson, Snjólfur Köseoğlu, Mehmet Ali |
author_sort |
Vigfússon, Kristján |
title |
Key success factors for implementing strategy in the Icelandic fisheries industry |
title_short |
Key success factors for implementing strategy in the Icelandic fisheries industry |
title_full |
Key success factors for implementing strategy in the Icelandic fisheries industry |
title_fullStr |
Key success factors for implementing strategy in the Icelandic fisheries industry |
title_full_unstemmed |
Key success factors for implementing strategy in the Icelandic fisheries industry |
title_sort |
key success factors for implementing strategy in the icelandic fisheries industry |
publisher |
Emerald |
publishDate |
2024 |
url |
http://dx.doi.org/10.1108/jsma-04-2023-0069 https://www.emerald.com/insight/content/doi/10.1108/JSMA-04-2023-0069/full/xml https://www.emerald.com/insight/content/doi/10.1108/JSMA-04-2023-0069/full/html |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
Journal of Strategy and Management ISSN 1755-425X |
op_rights |
https://www.emerald.com/insight/site-policies |
op_doi |
https://doi.org/10.1108/jsma-04-2023-0069 |
container_title |
Journal of Strategy and Management |
_version_ |
1801378182414204928 |