What criteria should be used during the process of selecting amongst strategic alternatives? WHY? The analytical reasoning...

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General Management

What criteria should be used during the process of selectingamongst strategic alternatives? WHY?
The analytical reasoning and rationale is crucial. AnsweringWHY after explaining WHAT is very important.

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Ans The competitive intensity in the different regional and global markets has increased manifold Choosing of the right strategies is crucial towards creating and improving organizational capabilities that can contribute towards the success growth and competitiveness of a business But these strategies should be sustainable and should favorably provide for improved financial and operational performance growth and competitive advantage for a long period An analysis of the environment including external and internal environment of the company helps it get a clear description of the situation and helps in exploring and formulating the various strategic alternatives available to it for achieving the goals and objectives The external analysis may be carried out through measures like PESTLE Political Economic Social Technological Legal And Economic analysis framework where a firm explores and analyses the various dimensions of the external environment Other methods for internal and external environment analysis include Porter five forces analysis SWOT analysis value chain analysis and VIRO value rarity imitability and organization among others When a corporation is aware of the various threats weaknesses opportunities and See Answer

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