1. Organizational Mission and Objectives. Organizational mission and objectives are the starting point of strategy formulation. As discussed earlier, mission is the fundamental unique purpose…

Once the creative and analytical aspects of strategy formulationhave been settled, the managerial priority is one of convertingthe strategy into operationally effective action. Indeed a…

Institutionalization of Strategy Setting Proper Organizational Climate Developing Appropriate Operating Plans Developing Appropriate Organization Structure Periodic Review of Strategy

The first basic action that is required for putting a strategy into operation is its institutionalization. Since strategy does not become either acceptable or effective…

Setting organizational climate relevant for strategy implementation is important for making strategy to work. Organizational climate refers to the characteristics of internal environment that conditions…

Operating plans are the action plans, operational program and decisions that take place in various parts of the organization. If they are made to reflect…

Organization structure is the pattern in which the various parts of the organization are interrelated or interconnected. It prescribes relationships among various positions and activities….

There should be periodic review of strategy to find out whether the given strategy is relevant. This is required because even the care-fully developed strategies…

The term policy has more precise definition as compared to strategy. It has been derived from the Greek word ‘politeia’ meaning citizen and Latin word…

Strategy is now the more common term for what used to be called policy, though there is no consensus on this also. For example, some…