Criticisms have been levelled at the use of traditional strategic tools such as SWOT, PEST and BCG in contemporary business environments. In light of these criticisms, the objective of this research is to understand how senior executives engage with methodologies and tools as they develop competitive strategy. Within a broader strategy-as-practice approach, we use an activity theory framework to capture strategizing insights of senior executives in the UK responsible for competitive strategy. Our sample includes executives leading manufacturing organizations embedded in networks and CEOs reported in the financial press as adopting innovative business models. Our data suggest there is no one preferred practice approach by these highly regarded executives. Rather, methods and tools are adapted as they are contextualized in alternative practices. Three dominant strategizing practice models emerged from the data reflecting alternative applications of methodologies and tools. The first model captures routinized behaviour adopted by those who view their future as predictable, and an extension of the current environment. The second model posits reflective interaction between the strategist, organizational processes, culture, relationships and practice, and the final model shows an imposed engagement with strategizing methodologies and tools that bypass the organization's collective structures. These practice models suggest strategy leaders' activities depend upon their interpretation of the operating environment.

The myth of Narcissus provides an appropriate metaphor for the continuing debate over the relationship between academics, business and other stakeholders; most recently expressed in terms of Mode 1 and Mode 2 knowledge and academic entrepreneurialism. Both myth and debate are based partly on conflicts over identity. However, surprisingly little empirical work has been conducted on the identity of management academics. A step towards this is made here by exploring the role of embedded and enduring values as a primary element of academic identity in business schools. Contextualized in the Mode/entrepreneuralism debate, a layered metaphor of academic organization is adopted, in which values are located among deep-set constructs and a comparative and longitudinal perspective employed. A value-ranking instrument is devised, applied and retested over five years in two business schools in Britain and Canada. This reveals values that are widely held by management academics and those that are more pervasive in each institution. Understanding such values helps provide insight into the strategic role of academic identity, grounded in ontological and epistemological frameworks.

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The Dearing Commission’s examination of British higher education has given further impetus to the need for strategy making at an institutional level. Recent policy developments are examined as a background and rationale for the use of institutional strategy. Intrinsic difficulties are then considered in managing universities strategically. Several techniques and ideas are evaluated to help resolve such problems, before adapting Porter's generic strategies and value chain concepts and placing them within a stakeholder focus group framework. Critical conclusions are then drawn on current higher education policy and the consequent use of institutional strategy in a fast changing environment.