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What are the five differences between the strategy formulation and strategy implementation?
Wiki User
∙ 13y ago
The five differences between strategy formulation and strategy implementation are:
1. Strategy formulation is about making the right choices; strategy implementation is about taking the right actions.
2. We move from the theory to practice and from the conceptual to the physical which then translates it into tangible and measurable actions.
3. Strategy formulation is deciding what will give you a competitive advantage. Having a strategy is about knowing when to say "yes" and when to say "no". Its implementation guides your discussions, decisions and actions.
4. Strategy formulation is static. Strategy implementation is in motion.
5. And finally whatever you formulate in planning will never be executed as planned as "the best laid plans of mice and men never go according to plan."
Wiki User
∙ 13y ago
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What is relationship between strategy formulation and strategy implementation?
The Relation Between Strategy Formulation And Strategy Implemenation In order to achieve its objectives, an organization must not only formulate but also implement its strategies effectively. The Figure represents the importance of both tasks in matrix form and suggests the probable outcomes of the four possible combinations of these variables: - Success is the most likely outcome when strategy is appropriate and implementation good. - Roulette involves situation wherein a poor strategy is implemented well. - Trouble is characterized by situations wherein an appropriate strategy is poorly implemented. - Failure involves situations wherein a poor strategy is poorly implemented. Diagnosing why a strategy failed in the roulette, trouble, and failure cells in order to find a remedy requires the analysis of both formulation and implementation. S.Certo and J. Peter proposed a five-stage model of the strategy implementation process: determining how much the organization will have to change in order to implement the strategy under consideration, under consideration; analyzing the formal and informal structures of the organization; analyzing the "culture" of the organization; selecting an appropriate approach to implementing the strategy; implementing the strategy and evaluating the results. Implementation is successfully initiated in three interrelated stages: Identification of measurable, mutually determined annual objectives. Development of specific functional strategies. Development and communication of concise policies to guide decisions.
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What is relationship between strategy formulation and strategy implementation?
The Relation Between Strategy Formulation And Strategy Implemenation In order to achieve its objectives, an organization must not only formulate but also implement its strategies effectively. The Figure represents the importance of both tasks in matrix form and suggests the probable outcomes of the four possible combinations of these variables: - Success is the most likely outcome when strategy is appropriate and implementation good. - Roulette involves situation wherein a poor strategy is implemented well. - Trouble is characterized by situations wherein an appropriate strategy is poorly implemented. - Failure involves situations wherein a poor strategy is poorly implemented. Diagnosing why a strategy failed in the roulette, trouble, and failure cells in order to find a remedy requires the analysis of both formulation and implementation. S.Certo and J. Peter proposed a five-stage model of the strategy implementation process: determining how much the organization will have to change in order to implement the strategy under consideration, under consideration; analyzing the formal and informal structures of the organization; analyzing the "culture" of the organization; selecting an appropriate approach to implementing the strategy; implementing the strategy and evaluating the results. Implementation is successfully initiated in three interrelated stages: Identification of measurable, mutually determined annual objectives. Development of specific functional strategies. Development and communication of concise policies to guide decisions.
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What is the Difference between business policy and strategic management?
Difference between Policy and StrategyThe term "policy" should not be considered as synonymous to the term "strategy". The difference between policy and strategycan be summarized as follows-Policy is a blueprint of the organizational activities which are repetitive/routine in nature. While strategy is concerned with those organizational decisions which have not been dealt/faced before in same form.Policy formulation is responsibility of top level management. While strategy formulation is basically done by middle level management.Policy deals with routine/daily activities essential for effective and efficient running of an organization. While strategy deals with strategic decisions.Policy is concerned with both thought and actions. While strategy is concerned mostly with action.A policy is what is, or what is not done. While a strategy is the methodology used to achieve a target as prescribed by a policy.
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