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Whether a change in the composition of top management reflects the magnitude of a company′s strategic change, and whether this fit between strategic change and top management change is related to organisational effectiveness are discussed. Data were yielded by a content analysis of 1981‐82 Business Week articles on 106 US business organisations. It is suggested by the findings that top management change follows a strategic change when the latter involves a change in both the firm′s grand strategy and its strategy‐making orientation.

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