Strategic management process
Interdependence of strategy
formulation & implementation
Strategy formulation VS strategy
Strategic management is the set of decisions
and actions in formulation & implementation of
strategies designed to achieve the objectives of
Reset if required
Setting long term
Choice of strategy
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..
process through which a chosen strategy is
put into action..
It involves changes in the organisational
structure and management system of the
Deals with impact of formulation on
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
Past strategic actions are referred and analysed
while formulating/designing new strategies.
Strategy formulation is influenced by strategy
It includes plans &
involved in developing
goals & plan.
It is the planning force
Focus on effectiveness
It involves all those
activities which helps
to execute strategic
goals & plans.
It is the managing
force during action.
Focus on efficiency
among few individuals.
It is a rational process.
Require a great deal of
initiative & logical
Responsibility of Top
It is a operational
middle & operational