The evolution of strategic execution: past, present, and future

Abstract

Given the last fifty years or so, this study aims to explore the origin which the strategic management comes in modem times, and towards which direction the strategic management is progressing, and in the light of this progress, to examine some lessons of potential importance for executives. There seem to be different environmental conditions and managerial responses to them to divide the evolution period to three phases: the strategic planning, the competitive strategy, and the knowledge-based strategy phases. Each phase differs from the others in terms of dominating environmental conditions, primary focus and concern of the executives working under these conditions. After making a brief comparative analysis of the phases, the study proceeds to draw a framework within which main strategic issues and problems can be taken up and discussed from a practical point of view, given the views and recommendations of the academic and consultant communities to the executives regarding how to succeed in the coming decades.