Jul 31st, 10:15 AM - 11:15 AM
The Relationship among Participative Management Style, Strategy Implementation Success, and Financial Performance in the Foodservice Industry
This study looked at the degree of participative management used by firms in the restaurant industry. Findings indicated higher levels of action plan implementation success and financial success for restaurant firms using a higher level of participation in decision-making and plan execution. Smaller firms (single unit) were more likely to use an approach with greater participation by middle-level managers and lower-level managers than larger firms (multi-unit). While larger firms had higher financial performance in general, implications include the value of higher participatory approaches by managers to enhance financial and implementation execution, particularly, for smaller restaurant firms.