STRATEGY ANALYSIS
As noted in the introduction to Chapter 3, there is a second prescriptive view, which developed in the 1980s, on the way strategy should be formulated. Its contribution is less as a new conceptual model-in fact it embraces most of the premises of the traditional model as its starting point-than in carefully structuring the kinds of formal analyses that should be undertaken to develop a successful strategy. One outcome of this more formal approach is that its adherents have come to see many strategies as fitting certain "generic" classifications-not being created so much individually as selected from a limited set of options based on systematic study of the firm and the industry conditions it faces. This approach has proved to be powerful and useful in many situations.