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The phrase "formulate strategy" is correct and usable in written English.
You could use it in a sentence such as "The board had to formulate a strategy for increasing profits".
Exact(10)
He helped formulate strategy and make investments in industrials and business services companies.
"The Pythagorean records do help you formulate strategy for June and July," said Josh Byrnes, assistant general manager for the Red Sox.
After James's two free throws with nine seconds to play gave Cleveland a 3-point lead, the Lakers took a timeout to formulate strategy.
He warned that it was far from clear that the UK has learned lessons from Iraq and Afghanistan about the need to formulate strategy in a coherent way.
Includes an overview of economic development theory, discussion of major policy areas and practices employed to influence local economic development, a review of analytic tools to assess local economies and how to formulate strategy.
SEPTEMBER is traditionally the month when New York's young swans, stalwart matrons and showiest donors dust off their ball gowns and begin to formulate strategy, focusing on concerns no more pressing than what to wear when vamping for the cameras, how best to burnish their social profiles and, in some cases, how to meet Mr. Right.
Similar(50)
It leads to self-control, the ability to formulate strategies in order to resist impulses.
With this immersion, executives can better formulate strategies that support those values.
Under Mr. Williams, the council concentrated on helping developing countries formulate strategies for food production, nutrition and disaster preparation.
In addition, lawyers for plaintiffs have been meeting behind closed doors in Chicago and lawyers for defendants have been meeting in Washington to formulate strategies.
At the very least, it was a distraction for the UN's efforts to formulate strategies to deal with a serious crisis.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com