The article examines the process of transition from strategy formulation to strategy implementation. It clearly differentiates the two activities and draws on the strengths of the 7S model developed by Peters and Waterman (1982), which has become one of the cornerstone for strategic planning and implementation. Through the use of 7S principles, various strategies which can be implemented by banks in some typical situations are also suggested.

Banks could use a SWOT or TOWS analysis, as presented in our earlier article, "Strategy for Bank BranchesThe TOWS Matrix", published in the Professional Banker Magazine December 2006 issue, to formulate a strategy. Once a strategy is formulated, this could be evaluated using a checklist as enumerated by Steiner et al., (1982, in Buttery and Richter, 2001). This checklist may be summarized and paraphrased as follows: Check if the strategy is consistent with the current and future forecasted environment. Check if it is acceptable to the major stakeholders. Verify whether it provides a differential competitive advantage to the organization.

The contrast between strategy formulation and strategy implementation is effectively brought out in the above table. In the formulation stage the focus is on intellectual process, whereas, it effectively shifts to an operational process in the implementation stage. In Search of Excellence, the outstanding book by Tom Peters and Robert Waterman, suggests the 7S model for successful strategy implementation. It embodies the essence of management strategy and also provides a comprehensive check list which links all strategies and strategic processes with the organization's goals and objectives.

Professional Banker Magazine, Strategy Implementation, Strategic Planning, SWOT Analysis, Strategic Management, Financial Resources, Public Sector Banks, Decision Support Systems, Management Information Systems, Resource Allocation Systems, Banking Operations, Standard Operating Procedures, Financial Control System, Decision-making Skills, Private Sector Banks.