Conceptualizing a Dynamic Model for Operation Strategy Formulation in the Third Millennium

Today’s firms are residing in a hypercompetitive environment in which operational supremacy undisputedly is a fulcrum of competitiveness. However, under tough competitive circumstances posed by globalized business milieu achieving this end apparently requires a comprehensive and systematic approach to understand and strategize operation in a superior way. This means operation and strategy must be intertwined, co-formulated and co-implemented. Logically only in this way firms are enabled to outperform rivals and create an operational hegemony. Despite this notion, management literature is suffering from a gap in its body of operational knowledge. Specifically, prior research laments the absence of a dynamic theory for operational strategy in order to harmonize operation with the modern theory of strategy. This paper, hence, is designed to address this context by proposing a conceptual model. Thus, this paper is a conceptual research that follows a simple approach to develop a theoretical framework for understanding the dynamicity of operational strategy. Accordingly at the end implications of this approach are presented for researchers and practitioners.