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.
- It involves decision-making and planning in creating strategic plans and goals for an organization.
- It is a process of employing forces before the action.
- This is an entrepreneurial activity that consists of strategic decision-making.
- It pays a huge focus on effectiveness.
- It is a rational process.
- This is a process of coordination among individuals.
- It needs a wonderful combination of logical skills and initiative.
- It precedes the plan implementation.
- It includes all those factors needed to execute the plans.
- It is a process of managing forces.
- This is based on the administrative talk.
- It pays attention to efficiency.
- It is an operational process.
- This also needs coordination between individuals.
- It requires particular leadership traits and motivational features.
- It follows strategy formulation.
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