Strategy formulation.

The formulation and implementation of strategy is vital part of all organisation,an organisation without strategy is rudder less and it may swung in different directions with chaos all around,before embarking on formulation of strategy ,one need to thoroughly understand the vision behind formation and creation of organisation.
Further the formation of strategy  requires the proper assessment of market place,govt rules and regulations and in depth assessment of resources available with organisation ,now the major role rests with leadership of organisation.
Some leaders are conservative ,some are risk averse,some believe in taking calculated risks and vision of leadership differs among organisation.
The strategies are formed in a way to assure success of organisation further to enhance its stature in market and aiming to cover up temporary limitations in some particular resources ,with vision and belief in organisational execution capabilities.
Now in present times formulation of strategy is heavily dependent on analysis of big data and market research ,competition is intensely and technology up gradation is too fast,it could make your investment in product development and launching impossible to cover ,if another new model is launched by competitor,in such scenario  the strategy  need to built with aim to recover investment at earliest as if within exclusive period before competitors pose multiple challenges.
Formulation of strategies also depends upon the nature of service ,industry etc in which organisation operates,for example in case of consumer durable ,strategy more do revolves around marketing aspect,quality of advertisement to be eye catching,further pricing,packaging etc are to be shrewdly developed to ensure getting market share.
It is also about studying the competitors strategies and finding its strong and weak points so to develop counter strategy to prevail over them.

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