Strategic management involves both strategy formulation and implementation. Strategy formulation includes assessing the external environment, setting objectives, and developing strategic plans. It is focused on effectiveness and involves top-level management. Strategy implementation is the process of executing strategic plans and involves changes to the organization's structure. It is focused on efficiency and requires coordination from middle and operational levels of management. Strategy formulation and implementation are interdependent processes, with formulation preceding and influencing implementation.

2.  Strategic management
 Strategic management process
 Strategy formulation
 Strategy implementation
 Interdependence of strategy
formulation & implementation
 Strategy formulation VS strategy
implementation

3.  Strategic management is the set of decisions
and actions in formulation & implementation of
strategies designed to achieve the objectives of
an organisation...

4. 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

5.  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..

6.  process through which a chosen strategy is
put into action..
 It involves changes in the organisational
structure and management system of the
organisation..

8. 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

9.  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

11.  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

12.  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

13.  Strategic management :- L.M PRASAD
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