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A conceptual synergy model of strategy formulation for manufacturing

Kit Fai Pun (Department of Mechanical and Manufacturing Engineering, The University of the West Indies, Trinidad and Tobago, West Indies)

International Journal of Operations & Production Management

ISSN: 0144-3577

Article publication date: 1 September 2004

Abstract

With the increasing level of competition in many competitive environments, a body of research regards the ability to formulate and implement a formulated strategy as an equally important source of competitive advantage. The rate of change in both internal and external environments of manufacturing firms is increasing, which necessitates that increased attention be paid to strategic planning and strategy formulation. This paper reviews the concepts of strategy, strategic planning and strategy formulation. It then discusses the common strategy determinants and describes the characteristics of several planning frameworks and methodologies. A conceptual synergy model for strategy formulation is proposed, and its features and characteristics are presented along with a discussion of its applicability in manufacturing enterprises.

Keywords

Citation

Fai Pun, K. (2004), "A conceptual synergy model of strategy formulation for manufacturing", International Journal of Operations & Production Management, Vol. 24 No. 9, pp. 903-928. https://doi.org/10.1108/01443570410552117

Publisher

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Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited