Foreword Since the first studies by Bower and Burgelman in the early 1980's on the phenomenon of strategic initiatives, the use of strategic initiatives in the strategic management of diversified organizations now is omnipresent. Strategic initiatives are seen as efficient answers of management teams for pressing challenges. By making use of strategic initiatives, managers can proceed flexibly and with entrepreneurial vigor from broad ideas toward specific commitments. Managing initiatives is perceived as a complex challenge by most managers. Empirical studies show that about 70% of all...