Strategic Management: A Competitive Advantage Approach, Concepts and Cases, 16/e

Chapter Summary

Successful strategy formulation does not at all guarantee successful strategy implementation. Although inextricably interdependent, strategy formulation and strategy implementation are characteristically different. In a single word, strategy implementation means change. It is widely agreed that the real work begins after strategies are formulated. Successful strategy implementation requires the support of, as well as discipline and hard work, from motivated managers and employees. It is sometimes frightening to think that a single individual can irreparably sabotage strategy-implementation efforts.

Formulating the right strategies is not enough because managers and employees must be motivated to implement those strategies. Management ...