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strategy formulation vs strategy implementation


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strategy formulation vs strategy implementation

  1. 1.  Strategic management  Strategic management process  Strategy formulation  Strategy implementation  Interdependence of strategy formulation & implementation  Strategy formulation VS strategy implementation
  2. 2.  Strategic management is the set of decisions and actions in formulation & implementation of strategies designed to achieve the objectives of an organisation...
  3. 3. Reset if required Reformulate If required Reimplement If required Establishing strategic intent Environmental analysis Organisational analysis Setting long term objectives Identifying alternative strategy Choice of strategy Implementation of strategy Strategic contol Feedback
  4. 4.  Strategy formulation includes planning & decision making that lead to the establishment of firm’s goals & the development of a specific strategic plan..  It include assessing external environment & internal problems & integrating the results into goals & strategies..
  5. 5.  process through which a chosen strategy is put into action..  It involves changes in the organisational structure and management system of the organisation..
  6. 6. FORWARD LINKAGE:  Deals with impact of formulation on implementation.  With the formulation of new strategies or re- formulation of existing strategies, changes are required to be made within the firm..  Thus implementation is dependent on formulation
  7. 7.  BACKWARD LINKAGE:  Past strategic actions are referred and analysed while formulating/designing new strategies.  Strategy formulation is influenced by strategy implementation STRATEGY FORMULATION STRATEGY IMPLEMENTATION
  8. 8.  STRATEGIC FORMULATION  It includes plans & decision making involved in developing organisational strategic goals & plan.  It is the planning force before action  Focus on effectiveness  STRATEGIC IMPLEMENTATION  It involves all those activities which helps to execute strategic goals & plans.  It is the managing force during action.  Focus on efficiency
  9. 9.  Need coordination among few individuals.  It is a rational process.  Require a great deal of initiative & logical skills.  Strategic formulation precedes strategic implementation.  Responsibility of Top level management  Need coordination among many individuals.  It is a operational process  Require specific leadership & motivational skills.  Strategic implementation follows strategic formulation.  Responsibility of middle & operational level
  10. 10.  Strategic management :- L.M PRASAD  GOOGLE.  WEBOPEDIA  SLIDESHARE.COM