Strategy Formulation vs Strategy Implementation
Following are the main differences between Strategy Formulation and Strategy Implementation-
|Strategy Formulation includes planning and decision-making involved in developing organizations 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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