Is your strategy working out now? : strategic inquiry as leadership

Abstract

Since the word "strategy" was introduced to the business world around the 1950s, a large number of research studies have emerged about "what is a good strategy?" (Strategy as a product) and even "what is good strategizing practice?" (Strategy as a practice) However, less research has been done on what impact a strategy should deliver, i.e. "what is the good strategized?" (Strategy as an impact) Similarly, many top managers expend a great deal of efforts getting the right strategy (Strategy as a product.) or ensuring an organization has the right strategizing practice (Strategy as a practice), but they typically are less mindful about how they lead the strategy and strategizing practice by validating and substantiating that the firm is obtaining the right results from the strategy (Strategy as impact). This research suggests that top managers should use the impact of strategy as the key criterion in managing the strategy as a product and as a practice by providing well framed strategic inquires that top managers should address and leverage to lead an organization.