ABSTRACT
The formulation of strategy and the ultimate decision regarding the strategic direction an organization will take has been posited to in clude at least three elements: what a company might do, what a com pany can do, and what a company wants to do (Andrews, 1980). Discovering what a company might do entails the identification of potential opportunities and risks, ascertaining what a company can do involves an assessment of internal resources and capabilities, and determining what a company wants to do requires an understanding of the personal values, aspirations, and ideals of strategic decision mak ers (Andrews, 1980). While the first two components of strategy for mulation have received extensive attention by organizational theorists, the impact of individual characteristics on strategic direction is a more recent focus of strategic research (Begley & Boyd, 1987; Haley & Stumpf, 1989; Hambrick & Mason, 1984; Miller & Droge, 1986). Nahavandi and Malekzadeh (1993: 411) have argued that before we can fully understand the factors which influence strategy-making, "one of the basic questions to answer is: given the constant and dynamic formulation and reformulation of strategy, how does the lead ers' style affect the choice of strategy?" The present study was devel oped to test the extent to which managerial differences, especially those associated with personality and national culture, influence stra tegic choice.
