Strategy Formulation vs Strategy Implementation
Following are the main differences
between Strategy Formulation and Strategy Implementation-
Strategy
Formulation
|
Strategy
Implementation
|
Strategy Formulation includes
planning and decision-making involved in developing organization’s strategic
goals and plans.
|
Strategy Implementation involves
all those means related to executing the strategic plans.
|
In short, Strategy Formulation is placing
the Forces before the action.
|
In short, Strategy Implementation
is managing forces during the action.
|
Strategy Formulation is an Entrepreneurial
Activity based on strategic decision-making.
|
Strategic Implementation is mainly
an Administrative Task based on strategic and operational decisions.
|
Strategy Formulation emphasizes on
effectiveness.
|
Strategy Implementation emphasizes
on efficiency.
|
Strategy Formulation is a rational
process.
|
Strategy Implementation is basically
an operational process.
|
Strategy Formulation requires
co-ordination among few individuals.
|
Strategy Implementation requires
co-ordination among many individuals.
|
Strategy Formulation requires a
great deal of initiative and logical skills.
|
Strategy Implementation requires
specific motivational and leadership traits.
|
Strategic Formulation precedes
Strategy Implementation.
|
STrategy Implementation follows
Strategy Formulation.
|
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