Strategy Formulation

Introduction

The emergent strategy may be a positive response to changing circumstance, or powerful stakeholders may impose it.

Strategy Formulation Diagram

 

Approaches to Strategy Formulation

There is not one correct approach to strategy formulation.  Strategy formulation should fit with the contingency approach.  In general terms, the approaches to strategy formulation can be placed at some point on the continuum below.

Approaches to strategy formulationFew organisations can be placed at the extreme ends of the continuum.  A very common approach to adopt is to prepare a plan, but to remain flexible enough so that the plan can be changed as opportunities or threats emerge.