Strategy Formulation means crafting a combination of strategies and picking out the best one to

achieve the organizational goals and objectives and thereby reaching the vision of the organization. It
involves a number of steps which are performed in chronological order. On the other hand, Strategy
Implementation refers to the execution of the opted strategy, i.e. it converts the chosen strategy into
action, for the realization of organizational goals and objectives.
To further illustrate the differences between the two, a comparison table is shown below:

BASIS FOR STRATEGY

STRATEGY FORMULATION
COMPARISON IMPLEMENTATION

Meaning Strategy Formulation refers to the Strategy Implementation means to

preparation of a well thought strategy that bring the formulated strategy into
helps in the achievement of action.
organizational goals.

Concept Placement of forces before action takes Managing forces at the time of
place. strategy execution.

Process type Logical Operational

Emphasis on Effectiveness Efficiency

Responsibility Top Management Functional Management

Orientation Planning Execution

Activity type Entrepreneurial Administrative

As mentioned above, since Strategic Formulation focuses more on conceptualizing a plan or strategy
for the company, manager skills such as these are important;

● Communication skills to efficiently relay goals to the team

● Analytic skills to be able to analyze and evaluate a company’s business plan
 ● Critical thinking for sorting among useful and arbitrary details to come up with a big-picture
perspective that leads to an impactful decision or solution to a problem.

On the other hand, since Strategic Implementation revolves around the execution of the formulated
strategy, a manager should have skills such as;

● Organizational and delegation skills to manage workload effectively, oversee the plan
and work of other employees as well as review company policies.
● Leadership skills to effectively execute the plan
● Time management skills to effectively accomplish strategies within a given timeframe