Evaluation is required in order to select the best alternative for implementation. Strategic choice Strategic choice typically follows strategic analysis and is based upon the following three elements. CRITERIA FOR EVALUATING STRATEGIC ALTERNATIVE Strategic alternatives must be able to create growth opportunities with high return of investment. Strategic Choices and Evaluation Selected Corporation: The company chosen for this task is Apple Inc. because of its renowned name, diversity in product lines, massive operations and vast size. In organisations of medium to large size, the following mechanisms may be employed for identifying strategic alternatives: 1. Some alternative strategies include price focus, differentiation, diversification and adjacent businesses. Evaluation of the options to assess their relative merits and feasibility.
Strategic Analysis and Choice: Nature, Techniques, Approaches, Ways and Factors Strategic Analysis and Choice – Nature of Strategy Analysis and Choice. Generation of strategic options, e.g. The process of analyzing and evaluating alternatives applies evaluation criteria to alternatives or options in a way that facilitates decision making. It is fundamental if companies are to secure, maintain or enhance their competitive position. Developing Strategic Alternatives Chapter 7: Evaluation of Alternatives and Strategic Choice Suggested Reading: See Study Guide Discuss: Discussion Board Response: Submit your response to the Discussion Board question by Saturday, 11:59 p.m. (Central Time) Discussion Board Comment: Comment on another student’s Discussion Board response by Tuesday, 11:59 p.m. (Central Time) … ... Strategic Implications of Product Categorization.
Choice is deciding the acceptable alternative among the several which fits with the organizational objectives. Evoked Set - the set of alternatives that are evoked immediately when decision arises.
Process of Strategic choice 1. Strategic Choice and Evaluation STR 581 University of Phoenix Abstract Identifying a organizations alternatives is a concern for most major companies. How is it useful for thinking about the adaptive strategy of a health care organization? Analyzing the strategic alternatives- The alternatives have to be subjected to a thorough analysis which rely on... 3. Strategic Evaluation is significant because of various factors such as - developing inputs for new strategic planning, the urge for feedback, appraisal and reward, development of the strategic management process, judging the validity of strategic choice etc. Joint Meeting: Hambrick & Fredrickson (2001) have mentioned that strategies are an integrated; overarching concept of how business will achieve its objectives. Strategic options can be identified after an institutional assessment, keeping in mind the Strategic options take advantage of facts and actors, trends, opportunities and threat of the outside world. The development and evaluation of strategic options is an important aspect of the strategic management process. 3. Evaluation of Alternatives and Strategic Choice. In practice, many factors affect ranking strategic alternatives. Explain evaluation of alternatives and strategic choice? criteria for evaluating strategic alternative Strategic alternatives must be able to create growth opportunities with high return of investment. Evaluating strategic alternatives should lead to a clear assessment of viable options. In addition, alternatives should be related to the problem statements and issues described in the case study. Outside Consultants: 4.
Ultimately, the choice will be based on experience and instinct. growth, acquisition, diversification or concentration. Focusing on alternatives – The aim of this step is to narrow down the choice to a manageable number of feasible... 2. Evaluation is required in order to select the best alternative for implementation. 07 - Free download as Powerpoint Presentation (.ppt), PDF File (.pdf), Text File (.txt) or view presentation slides online. 18 Evaluating strategic options OBJECTIVES Strategic planning is more of an art than a science.
The following proceeding shows Apple’s value discipline, generic strategy 18 Evaluating strategic options OBJECTIVES Strategic planning is more of an art than a science. The next phase associated with strategy formulation is the strategic analysis and choice phase of the process.According to Pearce & Robinson (2013), “Business managers examine and choose a business strategy that allows their business to maintain or create a sustainable competitive advantage” (p.238). Brain Storming Sessions: 2. Evaluation of Alternatives in Decision Making.