Page 16 - E2 Integrated Workbook STUDENT 2018
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Chapter 1
Options, choice and implementation
6.1 Generate strategic options, evaluation and choice
Strategic choice is the process of choosing the alternative strategic options
generated by the SWOT analysis. This will involve generating alternatives, evaluating
each option and selecting the best strategy to allow the business to build on its
strengths and to develop new products or markets to improve its competitive position.
The strategic choice process involves making decisions regarding:
On what basis should the organisation compete?
What are the alternative directions available and which products or
markets should the organisation enter or leave?
What alternative methods are available to achieve the chosen
direction?
These questions will be covered in the next few chapters.
6.2 Strategic direction – Ansoff’s Matrix
Product
Current New
Current Penetration Development
Market
Product
Market
New Development Diversification
Market
10
