Purpose: The purpose of the research is to utilize and expand on existing knowledge on organizational value-based innovativeness, towards the development of the "strategic reflexivity" concept, for businesses competing in the contemporary ever-modulating business environments. Design/methodology/approach: The paper is based partly on primary qualitative research and partly on theoretical research. The former consists of a six month long in-house observation and data gathering of a large company (OPERACOM Group) innovation process and on 45 semi-directive interviews of practitioners and experts. Findings: The findings descriptively portray the varying competitive conditions as intolerant of conventional strategic marketing planning; and unable to sustain any lasting competitive advantage. Prescriptively, the research proposes a change of strategic philosophy and practice, through a shift from orthodox planning to the design of value-based reflexive mechanisms that automatically adapt to change. The paper finally presents a preliminary model for the proposed strategic reflexivity process. Research limitations/implications: The paper, though scientific, it is in parallel a conceptual one. The "strategic reflexivity" concept and its consequent model therefore, are presented, not as a definitive answer to the concerns of contemporary businesses; but rather as a scientifically-based proposition towards further practical and scholarly development. Originality/value: The research value rests on a tripod of original contributions: it adds to the voices calling executives to give up on conventional tactical strategic means, counter-proposing strategic redevelopment that is explicitly value-based; it identifies the value-based innovational elements deemed critical in the strategic redevelopment of businesses in hypercompetitive environments; and it develops the "strategic reflexivity" concept and process within the above context towards theoretical development and practical implementation.