1.)Historical development of strategic management Birth of strategic management Strategic
management as a discipline originated in the 1950s and 60s. Although there were numerous early
contributors to the literature, the most influential pioneers were Alfred D. Chandler, Philip Selznick, Igor
Ansoff, and Peter Drucker. Alfred Chandler recognized the importance of coordinating the various
aspects of management under one all-encompassing strategy. Prior to this time the various functions of
management were separate with little overall coordination or strategy.
2.)a) Strategy Formulation includes planning and decision-making involved in developing organization’s
strategic goals and plans.Strategy Implementation involves all those means related to executing the
strategic plans.
b.)In short, Strategy Formulation is placing the Forces before the action.In short, Strategy
Implementation is managing forces during the action.
c) Strategy Formulation is an Entrepreneurial Activity based on strategic decision-making.Strategic
Implementation is mainly an Administrative Task based on strategic and operational decisions.
d) Strategy Formulation emphasizes on effectiveness.Strategy Implementation emphasizes on efficiency.
e) Strategy Formulation is a rational process.Strategy Implementation is basically an operational process.
d) Strategy Formulation requires co-ordination among few individuals.Strategy Implementation requires
co-ordination among many individuals.
e) Strategy Formulation requires a great deal of initiative and logical skills.Strategy Implementation
requires specific motivational and leadership traits.
d) Strategic Formulation precedes Strategy Implementation.STrategy Implementation follows Strategy
Formulation.