This paper suggest that successful strategic renewal involves three subprocesses, namely (1) facilitating strategic imagination, (2) developing of common ground among top management and middle management, and (3) coordinating strategic action. The management of and the linkage between the three sub-processes of strategic renewal has to consider potential breakdowns (language barriers, unclear contribution to common grounds, competing common grounds). Further, it is suggested that the careful management of speed is at the heart of achieving successful strategic renewal and avoiding breakdown. We identify key variables influencing the speed of the strategic renewal process (subjective time, participation) and explain what trade offs managers face when they try to slow down or speed up the process of strategic renewal.
|Place of Publication||Copenhagen|
|Publisher||Institut for Industriøkonomi og Virksomhedsstrategi, Handelshøjskolen i København|
|Number of pages||24|
|Publication status||Published - 1997|
|Series||Working Paper / Department of Industrial Economics and Strategy. Copenhagen Business School|