Strategic management: past experiences and future directions. Part 1

The first part of this article poses the dilemma of why so many companies and industries suffer strategic failure despite employing a process of strategic management. Evidence for the success and failure of strategic management is reviewed. A historical perspective is taken of the performance of British organizations over the period 1960 to date, and the forces for change occurring during various periods. The second part of the article to be published in the next issue will examine the causes of the dilemma in greater detail, and suggest ways to improve. References appear in the second part of the article.