Monday, March 29, 2010

Identify strategic options

Identify strategic options
Strategic options are strategic alternatives.They are carefully identified.They can be for:
1.Strategic :
  • Grand strategic :In terms of stability,expansion,retrenchment and combination.
  • Market oriented strategies :In terms of low-cost leadership,product differentiation and market focus.
2.Directions :The options for directions for strategy development can be.
  • Protect /build :Through consolidation or penetration home market.
  • Product development :develop new products for home market.
  • Market development :Offer existing products in new markets.
  • Diversification :Going away from existing markets and production.
3.Methods:The options for methods of strategy development can be :
  • Internal development :Developing new products and new market.
  • Mergers and acquisitions :Taking over ownership of other organizations.
  • Joint development and strategic alliance :Partnership tie-ups between organizations to jointly achieve mutually beneficial strategic objectives.

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