ABSTRACT
Almost a decade ago Jeffrey Pfeffer (1981) called attention to the symbolic dimension of management; arguing that managers not only direct organizational actions and make strategic decisions; but also foster supportive beliefs among various internal and external constituencies. Managers who appear to be effective in guiding their organizations through competitive; chaotic environmental seas tend to energize and direct the activities of employees while reassuring investors about the stability of their capital (Bowman; 1976; 1978). A vehicle for maintaining this "illusion of efficacy," especially with external audiences; is the corporate annual report to stockholders (Bettman & WeitZ, 1983; StaW, McKechnie, & Puffer; 1983).
