Quote of the Day – on CEO hirings

Floyd Abrams Corner Office

The Corner Office (Photo credit: Wikipedia)

 

“Organisations seek to enhance or protect their legitimacy by adopting industry practices or norms. Recruiting a new CEO is a particularly visible event, hence it provides a significant opportunity to communicate a firm’s intention to conform to or deviate from industry practices. Studies grounded in institutional theory indicate that firms are more likely to imitate other industry firms that are similar in size to them, or larger.” Petter Gottschalk, 2007

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