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Issue‐driven strategy formation
Author(s) -
Dale M. W.
Publication year - 2002
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/jsc.581
Subject(s) - variety (cybernetics) , process (computing) , action (physics) , process management , strategic management , value proposition , proposition , computer science , business , knowledge management , management science , marketing , economics , artificial intelligence , philosophy , physics , epistemology , quantum mechanics , operating system
This paper discusses a process for forming strategy, offering a range of experiences in how the process works in a variety of businesses. The backbone of the process is issue management, which comprises: Issue recognition—analysis and visioning work to surface and recognize the issues that an organization faces; issue shaping—reducing the list to a manageable number of the most important ones and defining them precisely; issue resolution—identifying possible responses to the important issues, choosing the preferred responses and turning them into strategic action plans. The paper continues by examining the practice of strategy reviews and the links to budgets. The value of facilitation through the process is discussed together with the benefits of the approach, in particular the strong ownership of the strategy by the business leaders. Finally, the idea of taking issue management into the management process of the business is explored and a proposition put forward for how to practise strategic management. Copyright © 2002 John Wiley & Sons, Ltd.