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Time orientation matters. While a temporal perspective is widely recognized as an important lens in strategic management research, few studies have explored how top managers’ temporal orientation affects strategic decision-making processes. We propose that top managers’ subjective perception of time, specifically, their long-term orientation, positively affects the comprehensiveness, speed, and creativity of strategic decision-making processes and that industry context moderates these relationships. Drawing on the organization-environment fit perspective and associated compatibility and temporal fit mechanisms, we found considerable support for our hypotheses in the semiconductor and pharmaceutical industries in China. Our findings reinforce the perspective that temporal referent points act as anchors for strategic decision-making processes.

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Alliances are often formed as a response to challenges from both market and social forces. Although the resource dependence logic posits that firms enter into alliances to stabilize resource flows between different markets and also to increase market power in their primary industry, it remains unclear whether the social power of firms, generated from alliance networks, may motivate firms to respond differently to the dependence logic of alliance formation. By incorporating social network theory, we argue that a firm’s social network advantages in the primary industry may serve as critical contingency conditions of the dependence logic. Analyses of firms in the U.S. computer industry from 1994 to 2007 suggest that a firm’s centrality advantage marginally reduces the positive effects of market dependencies on alliance formation, whereas a firm’s brokerage advantage enhances the market dependence effect.