The interplay between strategic management and controlling creates the foundation for fully leveraging potential. The authors transparently illustrate how business and corporate strategies are systematically developed and integrated into a self-regulating controlling cycle: from cost, quality, and time competition to environmental analysis and portfolio management, all the way to strategic control. The 5th edition has been expanded to include topics such as the design of the strategy formulation process, corporate resilience, strategy typologies, the Delphi method, real options, and the use of the Balanced Scorecard.