The role of Human Resources in Strategy Formulation

Corporate strategy formulation is a very important process and requires serious and careful engagement. Any mistake in the first phase of strategic management (formulation) will result in problems in the next stages such as implementation and control. Today, organizations of different sizes, small and medium, and large, in the process of strategy formulation need the involvement of qualified, competent and talented employees that would influence the creation of a successful strategy. However, the main problem in designing an unsuccessful strategy lies in the fact that most companies in the process of strategy development involve high level hierarchical levels and consultants inside or outside the company, leaving aside most of the human resources that contribute to the success of the company. Various literature has emphasized that strategy formulation is an essential step in turning a company's vision and objectives into reality. Therefore, the visionary leadership of companies should be oriented towards giving more importance to human resources during the process of strategy formulation and involve any team member who can contribute to the realization of organizational goals and organizational vision. Through this paper we will present human resources at a higher level in terms of importance and provide conclusions and recommendations on how organizations today should value these strategic resources and achieve competitive advantage in the market. In this paper we will give an overview of Kosovar companies, the process of strategy formulation in these companies and analyze how human resources are involved in the process and what importance is given to them by the company.