Strategy Creation Procedures at Corporation in Indonesia: Concept vs Practice



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Submitted Aug 17, 2020
Published Aug 24, 2020
10.24018/ejbmr.2020.5.4.476

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Strategy will valuable when it is used as a managerial process for developing and sustaining the integrations between organizational goal, organizational resources, and the continuously changing market opportunity with an objective to shape and adjust organizational effort and products, so an organization can reach competitive advantage. This paper is written to contrast the strategy formulation process and the functions of strategy embedded in the formulation process in textbook theoretical side and in practical side in business organizations in Indonesia. This study uses a questionnaire to see respondents' responses. Majority of the 82 organizations participating in this study believe that they use the same strategy formulation process as the theory suggested and they also believe that they are utilizing the strategic functions embedded in the formulation process. The results of this study are expected to be able to give contribution to the business organizations when they are formulating their strategy, effort that they have to invest, and advantages that they can utilize by having a specific strategy formulation process.  The well crafted and adjusted strategy to changes of the environment and internal factors will enable organizations more focus in reaching their long-term goal and adapting to uncontrollable changes.

Keywords: Corporate Strategy, Evaluating Strategy, Executing Strategy, Strategy Creation

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