Posted on Strategy Formulation by dorian gray.
Date February 27, 2015
In organizations, and in the practice of strategy development and execution, strategies must be implemented to achieve desired results. The most wonderful strategy is useless if not implemented successfully. Strategy involves developing an implementation plan and then doing whatever it takes to make the new strategy operational and effective in achieving the organization’s objectives.
There are four primary steps in this phase:
- Reviewing the current key objectives and strategies of the organization, which usually would have been identified and evaluated as part of the diagnosis
- Identifying a rich range of strategic alternatives to address the three levels of strategy formulation outlined below, including but not limited to dealing with the critical issues
- Doing a balanced evaluation of advantages and disadvantages of the alternatives relative to their feasibility plus expected effects on the issues and contributions to the success of the organization
- Deciding on the alternative that should be implemented or recommended.
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