Explain the stages from strategy formulation to evaluation?

1. Strategy Formulation: This is the first stage in the strategic management process where an organization develops its mission, vision, and goals. It involves analyzing the internal and external environment to identify opportunities and threats, as well as strengths and weaknesses. Based on this analysis, the organization formulates strategies to achieve its objectives.

2. Strategy Implementation: Once the strategies have been formulated, the next stage is to implement them. This involves developing action plans, allocating resources, and assigning responsibilities to ensure that the strategies are put into action effectively. It also involves monitoring progress and making adjustments as needed.

3. Strategy Execution: This stage involves executing the action plans and implementing the strategies across the organization. It requires effective communication, coordination, and leadership to ensure that everyone is working towards the same goals. It also involves managing any resistance to change and overcoming obstacles that may arise during implementation.

4. Strategy Evaluation: This is the final stage in the strategic management process where the organization evaluates the effectiveness of its strategies. This involves measuring performance against the goals and objectives set during the formulation stage, as well as assessing the impact of the strategies on the organization's overall success. It also involves identifying any areas for improvement and making recommendations for future strategy development.

Overall, the stages from strategy formulation to evaluation involve a continuous cycle of planning, implementing, and evaluating strategies to ensure that the organization is able to achieve its long-term goals and objectives.