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CA Intermediate · Financial Management and Strategic Management · Strategy Implementation and Evaluation

Vistara Textiles, a mid-sized Indian firm, has just approved a new growth strategy. The CEO now wants to translate it into action by deciding who will do what, with what resources, and by when. Which phase of the strategic management process does this activity mainly represent?

This is strategy implementation. Once a strategy has been chosen, management must turn it into action by allocating resources, assigning responsibilities and setting timelines. Formulation precedes it and covers choosing the strategy, while evaluation follows it and measures performance against targets.

  1. AStrategy formulation
  2. BStrategy implementationCorrect
  3. CStrategy evaluation
  4. DEnvironmental scanning

Explanation

Converting an approved strategy into action by assigning tasks, resources and timelines is strategy implementation, often called the action stage. Formulation is the earlier stage of choosing the strategy, and evaluation comes later to measure results.

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