Strategy Formulation vs Strategy Implementation

Strategy Formulation vs Strategy Implementation

Strategy formulation refers to preparing a well-thought-out working plan, which helps achieve the organization’s goals. The Strategy implementation means implementing the formulated working plan. Placement of forces before the action takes place.

Strategy Formulation:

1. It involves decision-making and planning in creating strategic plans and goals for an organization.
2. It is a process of employing forces before the action.
3. This is an entrepreneurial activity that consists of strategic decision-making.
4. It pays a huge focus on effectiveness.
5. It is a rational process.
6. This is a process of coordination among individuals.
7. It needs a wonderful combination of logical skills and initiative.
8. It precedes the plan implementation.

Strategy Implementation:

1. It includes all those factors needed to execute the plans.
2. It is a process of managing forces.
3. This is based on the administrative talk.
4. It pays attention to efficiency.
5. It is an operational process.
6. This also needs coordination between individuals.
7. It requires particular leadership traits and motivational features.
8. It follows strategy formulation.

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