If we have a closer look at strategy, we realize that strategies keep getting altered. Is this a weak-link in the strategy or is it normal?
The answer to this question still is unclear. We feel it is ok to have strategy being changed. We would tackle this question over this blog and the next.
To understand this as a process we would need some definitions:
Intended Strategy: - A Strategy a firm thought it was going to pursue when it began is the intended strategy
Deliberate Strategy: - An intended strategy a firm actually implements
Realized Strategy: - A strategy a firm is actually pursuing
Unrealized Strategy: - An intended strategy a firm doesn't actually implement
Emergent Strategy: - A strategy that emerges over time or that has been radically reshaped once implemented.
This was depicted by Henry Mintzberg in this book - "Strategy Formulation is an Adhocracy". We have modified the same and come up with the following diagram depicting this.
Read in Kannada:
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