What's the strategy formulation steps in the strategy planning ?

Strategy planning is about taking an organization from where it is right now to where it wants to be in the future based on a clear vision statement and well-defined specific long-term goals derived from this vision statement.

This means that the organization needs to do the following 

1. Clear statement of the VISION that is embraced and shared by key stakeholders.
2. Clear statement of the MISSION which is the purpose and reason for existence justification
3. ِArticulation of  GENERIC OBJECTIVES from the mission statements
4. Articulation of clear and SPECIFIC GOALS from the vision statement
5. Understanding your OFFERINGS (products/services) that will help you achieve goals and objectives
6. Determination of TARGET CUSTOMERS for these products and services
7. Understanding YOUR OWN DIFFERENTIATORS (company level and offerings level) that make you different and unique in the marketplace
8. Understanding what COMPETITION has to offer in the same areas of business that you are targeting
9. Understanding your ownSTRENGTHS AND WEAKNESSES  as well as those of your major competitors
10. Derermining YOUR APPROACH  towards the markets/customers based on your own priorities, capabilities and limitations
11. Drafing a HIGH-LEVEL VIEW OF YOUR BUSINESS MODEL and its associaed processes that are necessary to deliver your own products and services
12. Determining your CORPORATE CULTURE elements inclding core values, ethics, norms and behaviors
13. MAPPING the "business process flow" to the ORGANIZATION CHART and derermining WHO should do what, when , where and how
14. Putting numeric and well-defined KEY PERFORMANCE INDICATORS (KPI's) and KEY RESULTS INDICATORS  (KRI's) for the overall performane of the organization and its departments/divisions/units/ ///
15. Devising a BALANCED SCORECARD SYSTEM  to map actual performance versus desires one
16. Development of a SET OF STRATEGY MAPS  showing the cascading and caasality beteween the different elements contributing to the achievement of specific goals and objectives
17. Devising a SUITABLE MANAGEMENT SYSTEM  (monitoring, measuring and reporting) to feed the actual performance data into the performance management system in place
18. Putting an "ACTION TAKING PROCESS" to ensure proper corrective/adjustment actions are taken in time to influece and correct the actual outcomes of the performance process
19. Putting an EFFECTIVE COMMUNICATION SYSTEM in place
20. Putting a REWARDING AND MOTIVING INCENTIVE SYSTEM in place

There are more details of course ,,, So if your need further help, let me know !