The world is changing at an unprecedented pace, and so must businesses. However, the strategic renewal of a company – be it a substantial transformation, continuous incremental innovation or strategic redirection – is not easy. Failure rates are high, and for success, we clearly need much more than good strategic ideas and a brilliant leader (although it helps a lot if we have one!). The complexity of strategic change makes it essential to address these situations in a systematic way.

The purpose of this paper is to offer executives a practical framework for the design and execution of value creating strategies.