Strategic Formulation

Based on the proposition that human capital is a major source of competitive advantage.

Strategic formulation involves senior management evaluating the interaction between strategic factors and making strategic choices that guides managers to meet the organization's goals.

Strategic Implementation

Based on the proposition that people define and apply a strategic plan.

This is an area that focuses on the techniques used by managers to implement their strategies. It refers to activities that deal with leadership style, the structure of the organization, the formulation and control systems, and the management of human resources.

Strategic Evaluation

Based on the proposition that a systematic approach should be adopted in order to define what direction the organization should go and how to get there.

Strategy evaluation is an activity that determines to what extent the actual change and performance match the desired change and performance.