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A subject that has interested strategic management scholars is the efficacy of the strategy formulation and implementa¬tion process which this research will focus on.
The literature review shows that despite the world-wide research on this subject, there is no single definition for
strategy development. As a result a wide range of conceptual frameworks exist for the formulation and implementation of strategies (Rumelt, 1994). A few of them focus on the action conditions. This article will define the gap existing between strategic management formulation and its implementation, and look for the most important factors, which are the sources of this gap. The article _ also explores the relationship between strategic planning process and environmental change.