Strategy as the art of possibility

Torsten Schmid

2005

Strategic initiatives are a central tool for successful change. Such independent projects or project programs are launched in parallel with regular planning to target and develop selected topics for improving competitiveness.

Torsten Schmid investigates the management of strategic initiatives at large corporations. In an empirical study he analyzes the successful practices of project managers in developing business concepts, organizing initiatives and process management. He provides a plausible and productive model for using strategy as an "art of possibilities". According to this model, a pragmatic approach concentrating on feasible intervention only is a must for management.