Management Techniques
"
There are no favorable winds
for those who do not know where to go.
"
SENECA
Once a strategy has been elaborated and agreed, it will get executed (i.e. implemented). In other words, the firm will work toward putting the strategic recommendations into effect. More often than not, this includes launching specific projects (aka strategic initiatives) possibly acquiring other companies and creating new products/services to conquer new markets.
However, strategy elaboration is also a project in its own right it is a temporary endeavor (possibly managed by an ad-hoc organization), having a defined beginning and end (usually characterized by dates), undertaken to meet a specific, non-repetitive goal (produce well educated strategic recommendations).
This section considers some management techniques that can be leveraged for strategy formulation.
