Question

What are some guidelines for strategy formulation

Why is external monitoring important for strategic leadership?

Give an instance of successful or failed strategy in mobile space

Why did they succeed or failed? What lessons can be learned?

Answer 1

1). What are some guidelines for strategy formulation?

The following are some important steps to be followed in strategy formulation:

a). Setting organization’s objectives: Setting the long-term objectives of the organization is the key point of any strategic management. Before selection of an organization’s objectives, considering the factors that influence objectives is also important.

b). Evaluating the organizational environment

c). Setting targets in terms of quantitative means

d). Aiming in context with the divisional plans

e). Analysing the performance periodically

f). Choosing appropriate strategy based on the organizational goals and external facilities available