Question

Who is ultimately responsible for formulating a firm's strategy -- its managers, employees, or both? Explain.

Answer 1

answer-

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As we know that A strategy is a plan which is formulated in order to achieve organizational goals and objectives. The person who is responsible for formulating a firm's strategy is Manager because Manager are top authority who are given power and responsibility so that they can manage the business according to mission and vision of the company. Manager have skills like management skills, leadership skills, communication skills, technical skills, analytical skills which are needs to analyze the problem present in business environment and then make a strategy.

Employees are not responsible because they are lower level employees in management who are required to put strategy into action but the main formulation is done by top managers of an organization.

for example- A company wanted to reduce its competition in telecommunication industry so top manager like CEO decided to make a strategy of merger or acquisition so that it can increase business as well as reduce competition by acquiring company of competitor. this strategy is not formulated by lower level employees.

so, Startegies are long term and critical plans which required focus and efforts of managers but employees play part in its implementation as they are the muscle of the company. they do all the task and activities.

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