The formal processes for formulatin

The formal processes for formulating and implementing business strategy can be captured in the cascading hierarchy illustrated in figure 2 – 2. Strategy formulaton and implementation are multifaceted concepts. The cascading hierarchy of figure 2 – 2 illustrates that a mission – the broad purpose for which an organization exists – guides the formation of business strategy. Business strategy, in turn, determines performance goals and measure, and ultimately, patterns of action.