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Strategy in Practice: A Practitioner's Guide to Strategic Thinking, 3rd Edition by George Tovstiga

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Chapter 7Strategy Formation and Evaluation of Strategic Options

The real challenge in crafting strategy lies in detecting the subtle discontinuities that may undermine a business in the future. And for that there is no technique, no program, just a sharp mind in touch with the situation.

—Henry Mintzberg

There is no scientific approach to strategy formation. Strategic options emerge and take shape through astute sense making, continual challenging of assumptions, and careful crafting of suitable alternatives in response to a strategic challenge that presents itself. Just as importantly, there is no such thing as a single “right” response to a strategic challenge. All strategic responses feature potential liabilities. Hence, the final choice ...

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