why are an organization's mission and values important to strategy formulation?
Strategy formulation is the process by which an organization chooses the most. appropriate courses of action to achieve its defined goals. This process is. essential to an organizationâs success, because it provides a framework for the. actions that will lead to the anticipated results. Strategic plans should be. communicated to all employees so that they are aware of the organizationâs. objectives, mission, and purpose. Strategy formulation forces an organization to. carefully look at the changing environment and to be prepared for the possible. changes that may occur.