Stages of Strategic Management

Strategy Implementation

Strategy implementation is the second stage of strategic management. Strategy implementation can be only proceed after completion of strategy formulation stage, when strategists are done with strategies selection. This stage includes number of activities such as defining policies, building organizational structure, allocating resource to implementing strategy, assigning tasks to each functional area employees and tracking the progress of strategy implementation.[large]

This stage is often referred as action stage because each individuals is looking to get the thing implemented according to the strategy. To execute the strategy in a right way each individual must ask himself or herself the following questions.

What are the objectives?

What must we do to implement out part of the organization’s strategy?

How best can we get the job done?

The challenge for the managers to create gel effect among the employees and guide them throughout the strategy implementation.

Strategy Evaluation

Strategy evaluation is the last stage of strategic management, the purpose of this stage to monitor the implemented strategies and find out whether they are working or not to achieve organization objectives.Strategy evaluation consist of three fundamental activities reviewing external and internal factors that are bases for current strategies, measuring performance and taking corrective action. Each implemented strategy is evaluated to determine the outcomes, if the outcomes are meeting the expectation it means strategy is successfully otherwise corrective action is required.