“…The dwindling number of strategic planning studies has been noted by several authors (Bryson, Edwards, & Van Slyke, ; Whittingon & Cailluet, ; Wolf & Floyd, ). Although highly reputable peer‐reviewed journals have recently given space for the publication of strategy management and strategy processes (see Burgelman et al, ; Gans & Ryal, ; Kin, Howard, Pahnke, & Boeker, ; O'Regan, Kling, Ghobadian, & Perren, ; Thomas & Ambrosini, ), these papers tend to look more at the strategy formation and strategy development, often on the use of strategy tools and techniques (see Arend, Zhao, Song, & Im, ; Jarzabkowski, Giulietti, Oliveira, & Amoo, ; Tassabehji & Isherwood, ; Vuorinen, Hakala, Kohtamäki, & Uusitalo, ) and with few putting the strategy into action (strategy implementation). Hambrick and Cannella Jr. (), p. 278) stated that “ without successful implementation, a strategy (plan) is but a fantasy.…”