Question

Explain strategy formulation and imlemamtation is imtetrelated

Answer 1

strategy formulation Vs Strategy ImplementationStrategy Formulation and Strategy Implementation are the two most important phases of strategic management process. Strategy Formulation means crafting a combination of strategies and picking out the best one to achieve the organizational goals and objectives and thereby reaching the vision of the organization. It involves a number of steps which are performed in chronological order.

On the other hand, Strategy Implementation refers to the execution of the opted strategy, i.e. it converts the chosen strategy into action, for the realization of organizational goals and objectives. There are many management students, who often juxtapose the two terms.