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Aims to provide an overview of major work that has been carried out in the area of strategy development in the past and outlines how it will develop in the future. Presents an analysis of the term “strategy”. Discusses the evolution of different conceptual frameworks over time together with their impact on today′s understanding of strategy formulation and implementation. Concludes by presenting the requirements for a dynamic approach to strategy development together with the way in which it can be realized.
Feurer et al. (1995) studied this question.