19-04-2014, 04:34 PM
STRATEGY FORMULATION AND IMPLEMENTATION
STRATEGY FORMULATION .pptx (Size: 152.47 KB / Downloads: 13)
Meaning and concept
STRATEGY TAKEN FROM GREEK WORD “STRATEGOS “ In the words of Johnson and scholes, STRATEGY is define as, the direction and scope of organization over a long term, which achieves advantages for the organization through its configuration of resources, within a challenging environment to meet the need of market , so as to fulfill the stakeholders expectation.
STRATEGY IMPLEMENTATION
In the nutshell, strategy implementation means mobilizing employees and managers to put formulated strategies into action
STRATEGY EVALUATION
STRATEGY EVALUATION IS THE FINAL STAGE OF STRATEGY.
Strategy evaluation is the determining the effectiveness of a given strategy in achieving the organizational objectives and taking corrective actions wherever required.
Conclusion
Successful strategy formulation does not at all guaranteed successful strategy implementation, although they are independent.
-- Strategy formulation and implementation are different in character .It is fully agreed that “the real work begins after strategies are formulated” formulating the right strategy is not enough .
Strategy implementation requires the support of, as well as discipline and hard work from motivated managers and employees
Finally, strategy evaluation allow an organization to shape its own future rather then allowing it to be constantly shaped by remote force that have little or no vested interest in the well being of the enterprise.