Strategic Management

While the number of management tools and methods in scientific literature has steadily expanded over the last few decades, the challenge for managers remains the same: What do I use successfully and when to achieve what I am paid for - namely entrepreneurial success! From our many years of experience as management consultants and lecturers in the field of strategic management, we have repeatedly seen how difficult it is to establish the connection between the many "tools" and comprehensive analysis, strategy development, and implementation. In addition, it has become apparent that it is precisely the "classic" management tools that have been around and in use for decades now - and there are good reasons for this: they have proven themselves. This is not to suggest that newer approaches are irrelevant in an increasingly volatile world. But in this book, we will first focus on the classic tools. In a later publication, we will turn our attention to new developments in management tools. What is this handbook about? We do not want to explain the most common management tools in isolation but rather present them in the broader context of strategic planning. The art of strategic management lies not only in knowing the right tools, but also in applying them at the right time and in the right context. We have developed this handbook "from practice for practitioners" to offer guidance to students and aspiring managers alike (important sections include corresponding scientific sources for further reading and research). In doing so, we have drawn on our wealth of experience - whether in consulting for companies or in teaching and research at universities. So if you want to not only know about the classic strategic toolbox, but also be able to apply it, you've come to the right place. With this in mind, we hope you enjoy reading, learning, and implementing. Successful strategies are created by applying the appropriate tools -which can vary greatly depending on the situation! In this respect, many years of experience in applying the strategic "toolbox" is an important prerequisite for success - and even this handbook cannot provide that.