The chapter says strategy formulation focuses on effectiveness, whereas strategy implementation focuses on efficiency. Which is more important, effectiveness or efficiency? Give an example of each concept.
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- Strategy formulation focuses on effectiveness, whereas strategy implementation focuses on efficiency. Which is more important—effectiveness or efficiency? Give an example of each concept and explain your answer.What are the differences between "incremental" and "revolutionary" strategies, as well as "intended" and "actual" strategies? Do you think one is more valuable than the other? If so, why? Have you considered what the barriers to strategic planning are? What might those challenges be in your sphere? How can an organization overcome barriers to strategic planning?Discuss five (5) factors that differentiate strategy formulation from implementation.
- The tools presented in the strategy formulation framework are applicable to all sizes and types of organizations and can help strategists identify, evaluate, and select strategies. Which of the below tools, used in the process, allows strategists to evaluate alternative strategies objectively based on previously identified external and internal critical success factors? a. SPACE Matrix b. Internal-External (IE) Matrix c. SWOT Analysis d. Quantitative Strategic Planning Matrixconsider the idea of an organization being mission-driven or purpose-driven. Overall, do you feel that it is beneficial for an organization to base its strategy on such an idea? Why or why not? If so, are there any negatives or compromises that organizations might need to consider?List 10 guidelines for making the strategic-planning process effective. Arrange your guidelines in prioritized order of importance in your opinion.
- A Strategy Map is an excellent tool to showcase the inter-connectedness of all the elements that make up a good corporate strategy. Pick ANY industry you are familiar with and illustrate the use of a Strategy Map in assisting management achieve a business objective.➤What are the foundations of strategic competitiveness? ➤What is the strategic management process? ➤What types of strategies are used by organizations? >How are strategies formulated? ➤What are current issues in strategy implementation?Examine the connections between Strategic Planning, Strategy Evaluation, and Strategy Control.
- Strategy changes also include changes to the way an organization is organized, an assessment of the role of the organizational framework in implementing successful strategies?What are the five differences between strategy formulation and strategy implementation ?Distinguish between business level strategies and corporate level strategies; clearly giving examples under each.