The strategic planning is the management activity of the organization that helps to set the priorities, helps in focusing the energy along with the resources, strengthening of the operations, ensuring the working of the employees as well as the co workers towards the common goal with all the dedication and the pain, establishment of agreement around the outcomes or the results that are intended. In order to stay in the business for the longer period of the time every business needs to covert prospects to the closed sales. Marketing itself to the customers who are potential is the strategy of the marketing. The company can have more than one kind of strategy at a time with the help of the various marketing platforms. These marketing platforms include the different kinds like that of networking, the traditional print advertising and digital media. The marketing strategies should be planned well before hand and one can build properly upon them by stopping or adjusting the strategies that are unsuccessful one in the nature. The analysis of the situation is very necessary before making any kind of the strategy. It is necessary to analyse where the business actually sits.

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While it is very important that a good strategy should be formulated, it is also very important that a strategy should be implemented properly. Therefore, the below mentioned steps can help in implementing a strategy properly.

1. Proper communication of strategy: The first step that needs to be ensured in the proper implementation of a strategy is that it should be effectively communicated to the managers who have the responsibility of making decisions in the organization. It is very necessary that the strategies adopted by the organization are communicated and understood in the same way in which the framers of the strategy wants them to be, otherwise desired results cannot be achieved from these strategies. For example the top-level management of the company is clear regarding the strategy and the results that are expected to be achieved by such a strategy but if this information has not been properly communicated to the relevant managers, these objectives may not be achieved by the strategy.

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The success of an organization depends on several factors which include the strategies adopted by the organization. In this way, formulating the most appropriate strategies for the organization becomes a significant task of the top management. At the same time, it is also very important that the strategies adopted by the organization are carefully evaluated in order to see if these strategies are proving beneficial for the organization or not. The below mentioned standards can be used to decide if a strategy has proved to be successful or not.

1. Consistency: A successful strategy should play a role in creating consistency in the organization. The reason is that a wide range of policies, programs etc. are used in an organization with a view to smoothly run the day-to-day operations of the organization. Therefore, it is very important that the strategies adopted by the organization should fit with the internal management of the organization and does not disturb the other aspects of its operations. In the same way, the strategies adopted by the organization should not be inconsistent with the policies adopted by the organization.

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Steps in strategy formulation: While making a strategy for an organization, the below mentioned process has to be followed:-

1. Clarifying the objectives and values of the organization: a strategy is related with the mission and values of the organization. The mission of an organization can be described as the purpose for which the organization has been established. In this way, it is necessary that the mission of the organization should be clearly defined and at the same time, it should also be communicated to all the members of the organization. All the decisions have to be taken by the managers keeping in view the objectives of the organization and in the same way; strategies are also required to be created for achieving these objectives. The objectives of an organization provide the guidelines that can be used while making the strategies for the organization at different levels. In the same way, the values followed by an organization also help in creating the most appropriate strategies for the organization. For example, while creating strategies for the organization, the managers should keep in mind the likely customers of the organization and also the types of needs that are going to be satisfied by the organization.

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Generally, the below mentioned types of strategies are used by the organizations.

1. Stability strategy: this type of strategy is used by an organization in cases where the organization is satisfied with the current situation and therefore it does not want to move away from such a position. Consequently, in such a case, the organization goes for the stability strategy. However a stability strategy can prove to be effective when the environment of the organization is also stable. In most of the cases, this type of strategy is used by the organizations. The reason is that it is the least risky course of action. For example, the stability strategy will be adopted by an organization if it is satisfied by dealing with the same product or service, providing its services to the same group of consumers and maintaining the same market share. Sometimes, the organization is not adventurous enough to try new strategies and change its situation. However, the stability strategy can be adopted successfully by the organizations from a mature industry that has a static technology. But as a result of adopting the stability strategy, the managers may become complacent. In the same way, whenever a change arises in such an organization, the managers find it difficult to deal with such changes.

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