Strategic management Essay Example | Topics and Well Written Essays - 2000 words - 22

Strategic counsel - Essay ExampleIt is and so very difficult to give an optimum decision that will ensure that a given dodge will be implemented in effect in the foreseeable future. Strategy formulation can be described as the phase of strategic management that encompasses planning and decision making that will enhance establishment of the organizations oddment and of strategic plan. Strategy formulation can be described as that phase of strategic management that involves the use of organizational and managerial tools to direct resources towards attaining strategic results. From these definitions of strategy formulation and strategy implementation, it is clear that strategy implementation will fail as a result of the failure of strategy formulation. Decisions that are do to process formulation of a strategy are prone to be affected by ingrained and external factors.Before proceeding with review of literature is important to talk about strategy, which is a widely term. Due to th e fact that strategy in this paper is referring to the strategy that is used in strategic management. nigh of the definitions that have been put forward to describe strategy are very easy and lack breadth (Mintzberg et al., 1998). It is for this reason that he argues that several definitions should be incorporated to define strategy, and he called them the 5Ps for strategy. The environment is frequently increase in vitality making it difficult for the prevalence strategic planning. Strategic planning systems are therefore influenced by various factors as indicated by various studies. Some studies have indicated that an environment which is turbulent enhances decentalisation of strategic decision making process (Lindsay and Rue, 1980 Grinyer et al., 1986 Wilson 1994). The fact that strategy planning involves the prediction as healthful as uncertainty about the future and the only way to curb