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This article has been withdrawn as it was published elsewhere and accidentally duplicated. The original article can be seen here: 10.1108/00251749510087614. When citing the article, please cite: Rainer Feurer, Kazem Chaharbaghi, (1995), “Strategy development: past, present and future”, Management Decision, Vol. 33 Iss: 6, pp. 11 - 21.

The increasing level of competition has had a major influence on the value system which defines the characteristics of an organization and its relation to internal and external environments. The value system is central to the reward structure and therefore determines the organization′s goals which in turn form the basis of strategy formulation. While the increasing level of competition has satisfied a growing level of expectations there has also been a number of negative repercussions which have arisen due to the conflicting nature of value systems on which organizations operate. The solution to this disequilibrium lies in the question of whether endless progress is desirable or a more balanced approach between progress and conservation is necessary. Describes the value system on which organizations operate, then examines the way in which an appropriate balance may be achieved between progress and conservation, together with its implications on strategy formulation.

Outlines a survey carried out among 33 large corporations in the UK, which aimed to discover the level of dynamics in the competitive environment, the level of dynamics in strategy development and the performance of the organization. Outlines the methodology used and the results obtained. Concludes that organizations can be successful in any competitive environment but that organizations with dynamic approaches to strategy development achieve superior performance in all competitive environments.

As the pace of change is increasing in competitive environments strategy formulation and implementation is becoming a continuous and simultaneous process. Such a process requires a dynamic approach to strategy ownership which enables organizations to develop strategies at the point where the most appropriate knowledge exists. Presents a framework for dynamic strategy ownership. Uses this framework to ensure goal alignment by setting overall goals, directions and boundaries rather than through the application of a complex proposal and approval system.

Although the notion of competitiveness lies at the heart of business strategy development, its definition is often vague and does not lend itself to a measurement process. The competitiveness of an organization depends on a number of factors which are interrelated and cannot be looked at in isolation. The main factors include: customer values, shareholder values and ability to act and react within a competitive environment. Proposes a holistic approach for defining competitiveness together with a mapping process which encompasses different dimensions of competitiveness. The mapping process enables the measurement of competitiveness while highlighting the strengths, weaknesses, opportunities and threats within a competitive environment which form the basis of business strategy formulation.

Contends that, with the accelerating dynamics of competition and a move of organizations towards more dynamic approaches to strategy formulation and implementation, creativity becomes of key importance for achieving both product and operational excellence. Over the last decade organizations have increasingly adopted team‐centred structures in order to improve the way in which knowledge is developed, disseminated and applied in organizations. Although this has improved product and operational performance dramatically, organizations now realize that future radical improvements in performance hinge on improving their creative capabilities. Presents a framework used by Hewlett‐Packard in order to develop creative teams.

Addresses the need of organizations for an integrated understanding of strategy formulation and implementation, especially those which confront highly dynamic and uncertain environments. Highlights the current lack of common perspective, vocabulary and conceptual base in research approaches, many of which result in inapplicable or irrelevant strategy formulations. Aims to provide a framework for researching strategy formulation and implementation which avoids full predefinition of research objectives and methodology, but which rather allows them to emerge holistically through research processes.

Performance measures form an important feedback‐loop in strategic change which represents a process of constant learning. However, complete learning can only be achieved if a performance measurement system takes into account different value systems that exist within an organization and adapts dynamically to changes in the competitive environment. First establishes the role that performance measures play in the process of strategic change. An approach for the design of performance measurement systems for use in strategy evaluation and implementation is then presented. Finally, demonstrates the ways in which a performance measurement system can be made flexible to account for changing conditions.

Successful organizations manage to change their strategy constantly in line with the changes in their competitive environment by using a dynamic approach to strategy formulation and implementation. Demonstrates the way in which such an approach can be developed, using the experiences of Hewlett‐Packard.

Aims to provide an overview of major work that has been carried out in the area of strategy development in the past and outlines how it will develop in the future. Presents an analysis of the term “strategy”. Discusses the evolution of different conceptual frameworks over time together with their impact on today′s understanding of strategy formulation and implementation. Concludes by presenting the requirements for a dynamic approach to strategy development together with the way in which it can be realized.