Paul Strebel

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Paul Strebel
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Lausanne, Switzerland 2022
Born (1945-06-10) June 10, 1945 (age 78)
OccupationProfessor, Author, Consultant
Alma materUniversity of Cape Town Princeton University Columbia University

Paul J. Strebel is a Swiss business school professor, author and consultant. He is Professor Emeritus of Strategy and Governance at IMD (International Institute of Management Development) in Lausanne Switzerland.

Education

Strebel studied at the University of Cape Town where he co-authored articles in analytical chemistry.[1] and graduated with a Master of Science degree in 1967. He did his Ph.D. at Princeton University, co-authored articles in chemical physics[2] and graduated in 1971. He then did an MBA with a concentration in finance at Columbia University in New York.

Career

While working in the Finance Department of W.R. Grace & Co. first in New York City and then in Lausanne, he was invited to join the Graduate School of Business at the University of the Witwatersrand in Johannesburg as Senior Lecturer in Finance and subsequently Director of the MBA Program. In Johannesburg he did research on the efficiency of the Johannesburg Stock Exchange[3] and on acquisitions and mergers in the South African context.[4]

When the Soweto riots and subsequent police crackdown occurred in South Africa, he moved to the State University of New York in Binghamton where he became Associate Professor with tenure in 1983 and Chair of the Finance and Economics Group. While at Binghamton, he showed how financial market information can be used for competitive analysis[5], how the extent of available information affects the pricing of securities[6] and how to manage the information cost of financing[7]. Together with Avner Arbel and Steve Carvell he developed the concept of a Neglected Firm Effect[8] and explored how the number of analysts following firms affects their pricing in the market.[9]

Research while at IMD Business School

Strebel is the originator of two related concepts in strategic management: Outpacing Strategy[10] (developed together with Xavier Gilbert). Firms can outpace the competition by shifting the strategic emphasis between perceived product value and delivered cost in a timely way[11] that reenergizes the organization and outpaces the competition[12]. Industry Breakpoints[13] described in his 1992 book published by the Harvard Business School Press[14] involve sharp evolutionary shifts in competitive behavior and business models associated with the onset of variety creation in the value proposition and survival of the fittest in value delivery[15]

He also applied situational leadership and stakeholder analysis to develop concepts for use in governance and change management: Contingent Governance: Effective boards shift their focus depending on whether the challenges facing the firm are mainly internal or external[16] and according to management’s ability to deal with those challenges.[17]

References

  1. ↑ Max Peisach, René Pretorius and Paul J. Strebel, “Isotopic Determination of Oxygen-18 in Gases by Neutron Time-of-Flight Spectrometry,” Analytical Chemistry, Vol.40, No. 6, 1968 (https://ur.booksc.me/book/29874971/ada9b9) Retrieved 2022-10-02.
  2. ↑ Paul J. Strebel and Zoltan G. Soos, “Theory of Charge Transfer in Aromatic Donor-Acceptor Crystals,” The Journal of Chemical Physics, Vol. 53, No.10, 15 November 1970 (https://aip.scitation.org/doi/abs/10.1063/1.1673881) Retrieved 2022-10-02.
  3. ↑ P.J. Strebel, “Limited Efficiency of the Johannesburg Stock Exchange,” Investment Analysts Journal, Vol.6, 1977 (https://www.tandfonline.com/doi/abs/10.1080/10293523.1977.11082601) Retrieved 2022-10-02.
  4. ↑ A.R. Lipworth and P.J. Strebel, “Factors Determining Acquisition Performance”, The South African Journal of Economics, Vol.44, No.3, 1976 (https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.1976.tb00486.x) Retrieved 2022-11-24.
  5. ↑ Strebel, Paul J. (1983). "The Stock Market and Competitive Analysis". Strategic Management Journal. 4 (3): 279–291. doi:10.1002/smj.4250040308. ISSN 0143-2095. JSTOR 2486087.
  6. ↑ Strebel, Paul (1983-01-01). "Analysts' forecasts in the capital asset pricing model". Economics Letters. 13 (2): 223–229. doi:10.1016/0165-1765(83)90090-3. ISSN 0165-1765.
  7. ↑ Paul Strebel, “Managing the Information Cost of Financing”, Columbia Journal of World Business, Vol. 21 No. 2, 1986 (https://leeds.primo.exlibrisgroup.com/discovery/fulldisplay?docid=cdi_proquest_journals_216423990&context=PC&vid=44LEE_INST:VU1&lang=en&search_scope=My_Inst_CI_not_ebsco&adaptor=Primo%20Central&tab=AlmostEverything&query=any,contains,managing%20the%20information%20cost%20of%20financing,AND&query=issn,contains,(18737536%20OR%2000225428),AND&sortby=rank&mode=advanced&offset=0) Retrieved 2022-11-25.
  8. ↑ Avner Arbel, Steven Carvell and Paul Strebel, “Giraffes, Institutions and Neglected Firms,” Financial Analysts Journal, Vol. 39 No. 3, 1983 (https://www.tandfonline.com/doi/abs/10.2469/faj.v39.n3.57) Retrieved 2022-11-24.
  9. ↑ Steven A. Carvell and Paul J. Strebel, “Is There a Neglected Firm Effect,” Journal of Business Finance and Accounting, Vol., No.2, 1987 (https://doi.org/10.1111/j.1468-5957.1987.tb00544.x) Retrieved 2022-10-02.
  10. ↑ "Outpacing strategy and business trajectory management". www.imd.org. Retrieved 2023-04-26.
  11. ↑ Gilbert, Xavier; Strebel, Paul (1987-01-01). "Strategies to Outpace the Competition". Journal of Business Strategy. 8 (1): 28–36. doi:10.1108/eb039185. ISSN 0275-6668.
  12. ↑ Strebel, Paul; Ohlsson, Anne-Valérie (2006-01-01). "The Art of Making Smart Big Moves". MIT Sloan Management Review.
  13. ↑ "Industry Breakpoints and Business Model Evolution". The Case Centre. Retrieved 2023-04-26.
  14. ↑ Strebel, Paul (1992). Breakpoints: How Managers Exploit Radical Business Change. ISBN 9780875843698.
  15. ↑ Strebel, Paul (1995-04-01). "Creating industry breakpoints: Changing the rules of the game". Long Range Planning. 28 (2): 11–20. doi:10.1016/0024-6301(95)98585-G. ISSN 0024-6301.
  16. ↑ Strebel, Paul (2004-01-15). "The Case for Contingent Governance". MIT Sloan Management Review.
  17. ↑ "The 5 Ways to Get Rid of a Dysfunctional & Dominant Leader in 2022". www.imd.org. 2022-08-19. Retrieved 2023-04-26.

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