ABSTRACT
The pandemic has highlighted that strategy formulation and implementation from a firm’s perspective may need new frameworks because the existing frameworks do not account for all the challenges faced in the past two years. The hue and cry about the disrupted global supply chain is one example. The pandemic also highlighted that strategy formulation and implementation demands that we borrow tools and methods from related business fields such as operations management. The current manuscript attempts to provide academics, consultants, and managers to revisit some basic ideas concerning the strategic management framework. In the process, we offer the following aspects of strategy formulation and implementation: defining strategy, framework of strategy, concept of alignment or fit, alignment across activities, role of dynamic capabilities, need to be an agile organization, exploring agile framework, strategy formulation and agile framework, and future directions.
