Strategy formulation and strategy implementation are the two major managerial responsibilities of the strategic management process.

Question

Quizplus · Accepted Answer

Strategy formulation involves analyzing the organization's internal and external environment, setting objectives, and developing a plan to achieve those objectives. Strategy implementation involves putting the formulated strategy into action, allocating resources, and directing the activities of the organization towards achieving the desired outcomes.

Strategy Formulation and Strategy Implementation Are the Two Major Managerial