Classic Strategy Formation

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.