Prior research has been relatively withdrawn to study the strategic management
process in non-profit organizations, and ignored differences in strategic planning in
academic institutions. In contrast, this paper argues why and how strategic planning
may lead to desired levels of organizational performance in a college or university.
We used mixed methodology approach based on content analysis. Our exploratory
work found that higher ranked universities had strategy statement that emphasized
faculty. Findings highlight the importance of a clearly articulated strategy
emphasizing faculty for university ranking on the sample of 203 business schools.
We provide evidence that the most successful universities are likely to proactively
use and manage strategy statements for attaining higher rankings and attracting more
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