HOW DOES ORGANIZATIONAL STRATEGY FORMULATION WORK?

 According to Fraidoon Mazda strategic formulation process is also known as strategic cycle. A vision is basically, what an organization wants to achieve in short and long term.  There are other scenarios too in this type. however vision is the top most and important thing in this regard. after making a vision n organization moves towards its action plan. These action plans define the role of the organization in this regard. The last and not the lest thing in this side lies in the analysis in which a person or an organization checks about its decisions. Organizations use this strategy and and change the process according to their needs. 

In the Vision, an organization actually defines what it wants to achieve in long an short term. As an example one can say that an organization can have such kind of goals in which it wants to capture half part of the market in next six months. It can be said that it is a short term goal of the organization. Whereas it can also has the goal of achieving the full part of the market in one year then it will be called as the long term goal of the organization. In the flow chart the organization decides its vision in the first place. After that it moves towards its next step. It is also very important that organizations select the best people for this purpose to make a specific vision of the organization. In Action plan organizations take certain steps to achieve the goal. In this whole process they can hire experts of their filed. One can take thee example of make 1 million mobile phone manufacturing process as an action plan. For this purpose they can hire expert of their fields. In SWOT analysis companies can check their processes. In other ways they see how to improve their processes. This is the analysis of strengths, weakness, opportunity, and threats. As an organization works on its action plan, it must have to take these four things into account to achieve its goals. 

In a nutshell, it can be sis that an organization need to pass through different stages to achieve ones goals. In these processes they need to decide their vision, action plan and then analyze them too. The most important part of it lies in the last part as this part can take the organization to the top.  This is an important part of the organization and they want to conduct this organization according to their needs.

Reference: Fraidoon Mazda