Over the past several decades, social network remains the most prevalent and prominent in the strategy and organization theory literature. However, despite the considerable research attention scholars devoted to exploring the implications and mechanisms of social ties and networks in management and organizational contexts, the following question has largely remained understudied: To what extent can top managers' personal ties and networks actually contribute to their firms? This thesis will strive to explore this research question by theoretically highlighting three logically consequent managerial decisions: (1) "When"--when will top managers choose to use their personal ties and networks in their firms; (2) "How"--will top managers use their managerial ties and networks to serve the best interest of their firms or to satisfy their self-interests; and (3) "So what" --how would the decision of using managerial ties and networks to benefit their firms influence other decisions of the firms. Using both primary data and archival information from Chinese firms, I will empirically test the step-wise framework. I expect this thesis to contribute to both strategic leadership and social network research and management practices.