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Classic Strategy Formation

In: Innovation Strategy

Author

Listed:
  • Daniel Huber
  • Heiner Kaufmann
  • Martin Steinmann

    (Firmament AG)

Abstract

To understand what an innovation strategy actually is and what it should contain, we first have to deal with the term strategy. We find that a strategy defines the long-term goal and, derived from it, describes what a company must do to successfully move into this desired future. Crucial, indeed defining, is a mindset that prioritizes goals over the means. Our analysis of the strategy formation process shows that a strategy developed in a classic way does not sufficiently consider aspects of the future.

Suggested Citation

  • Daniel Huber & Heiner Kaufmann & Martin Steinmann, 2024. "Classic Strategy Formation," Springer Books, in: Innovation Strategy, chapter 0, pages 123-131, Springer.
    • Handle: RePEc:spr:sprchp:978-3-662-69832-7_7
    DOI: 10.1007/978-3-662-69832-7_7
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