Track: Innovation

Abstract

Strategic planning has a direct impact on various success factors of a company, including market position and competitive advantages in terms of supply and resources (Grünig & Kühn, 2015). However, in an increasingly volatile and complex environment, the classic, rather static approach to strategic planning is no longer appropriate (Mintzberg, 1994). New approaches to strategy development must therefore be able to create and realistically estimate the scope for future developments (Gausemeier & Plass, 2014; Fink & Siebe, 2016). On the basis of expert interviews and a quantitative study, various requirements were defined for different areas within a strategy development and strategy review process. From the current state of research, it can be inferred that methods exist which meet these requirements. However, the expert interviews conducted have shown that in current practice, a comprehensive and systematic approach using these methods is yet to be defined. This paper describes a fundamental system for a continuous strategy development and strategy review process, which enables the development of future-proof strategies by using foresight. The system is based on the approach of cross-generational product development and is modified for use in the context of corporate strategy development (Albers et al., 2018; Marthaler et al., 2019).