Abstract
Scientific literature as well as business practice show an increasing interest in strategic thinking and strategic policy making. It is hard to cope with the frequency of new publications in this area. This is especially true for business practitioners, who are not always able to apply the new ideas and new recipes as such in their daily business. Due to the hard competitive environment, financial and insurance companies have to struggle in order to survive and hopefully stay successful. It is therefore necessary that strategic thinking and strategic orientation are developed. It seems interesting to verify which useful lessons can be drawn from the new strategic concepts and to what extent these strategic recipes can or even have to be applied by banks and insurance companies.
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