K is a small organisation which makes plastic toys. The company was very recently formed by Mr V$.$ Mr V is a skilled entrepreneur with many years of experience in the industry.

The toy industry is incredibly fast$-$changing$,$ with new innovations being developed regularly. In addition, tastes and trends change regularly, meaning that sales of toys can drop quickly as they fall out of fashion.

Mr V is aware that K will often require radically new strategies in order to keep up with these changes.

Which ONE of the following approaches to strategic development would be most appropriate for K to adopt?