Managers are at times caught on the wrong foot by sweeping industry changes which, they believe, were unpredictable. Indeed, corporate strategies often seem to be prepared as if such changes never occurred. As a result, reacting becomes a more pressing preoccupation than actually taking...

Einleitung: Strategische Initiativen sind eine Herausforderung -- Festlegen der strategischen Prioritäten -- Auswahl des Teams -- Bestimmen des Kurses -- Mobilisieren von Teamenergie -- Durchdenken der Schritte -- Unterstützung gewinnen -- Steuerung des Umsetzungsprozesses.

Should one compete on the basis of product features or price? Both, say the authors. A successful strategy should be flexible enough to exploit market changes by making timely shifts back and forth.