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The present article is concerned with strategic management as a specific field of general management. The authors analyse the nature of strategy formation in complex organizations and present some tools for improving this critical activity. Section 2 sets out with a simple terminology and framework for the analysis of strategic management. Next, an open‐systems view is presented for analysing the strategic activity and a brief literature survey is added to support the concepts presented (Section 3). After discussing their own model of strategic management in complex organizations, the authors proceed to investigate the task of top managers in this specific field (Section 4). Finally, the concepts presented are confronted with specific management modes, drawn from literature reporting on German and Japanese business practice (Section 5).

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