Strategy formulation and strategy implementation are interdependent processes designed to guide and ensure that a company or organization achieves its objectives. Both are part of an overall business management and corporate strategy scheme.Know More
In the strategy formulation stage, plans and decisions are made regarding the organization's strategic goals and how to achieve them. The necessary forces, such as materials, labor and other resources that the plan requires, are assembled. The emphasis is on the effectiveness of the planned activities.
The implementation stage highlights efficiency and puts the plans into operation. As the plans become reality, the focus shifts to managing the processes. The strategic formulation plans are used as a guide to keep the implementation process on track and ensure that the overall goals remain in sight.Learn more in Managing a Business
The information systems strategy triangle includes business, organization and information strategy, and it symbolizes how a company must align all three of these strategies together to use information systems for the company's benefit. When implementing an information system, a company must consider its goals, place in the market, its organizational culture and its business processes.Full Answer >
Intensive growth strategies are business plans designed to improve the business performance of a company, bringing the highest gains with the least amount of effort and risk. They include strategies for market penetration, product development and market development.Full Answer >
A quality policy should emphasize how important the company feels about providing high-quality products or services to its customers, and it should state that the company has controls in place for the implementation, monitoring and maintenance of its quality objectives. The policy can also show how meeting high-quality standards will help the company meet its operational goals, such as increasing its customer base or decreasing customer complaints.Full Answer >
The four essential aspects of successful training are learning objectives, involvement, opportunity to share experiences and fun. Malcolm Knowles first proposed these aspects in his book "The Adult Learner," a book on adult learning theory.Full Answer >