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02 Strategic Choice

Strategic choice involves selecting the best option from various alternatives, taking into account both external and internal factors. It is an important decision-making process that forms part of a company's overall strategy. Managers consider parameters like feasibility, prudence, consensus, and acceptability when narrowing down options and making a final strategic choice, though majority shareholders may sometimes influence the decision to benefit their own agenda.

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182 views1 page

02 Strategic Choice

Strategic choice involves selecting the best option from various alternatives, taking into account both external and internal factors. It is an important decision-making process that forms part of a company's overall strategy. Managers consider parameters like feasibility, prudence, consensus, and acceptability when narrowing down options and making a final strategic choice, though majority shareholders may sometimes influence the decision to benefit their own agenda.

Uploaded by

Md.Hasan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

What is Strategic Choice?

Strategic Choice involves a whole process through which a decision is taken to choose a particular option
from various alternatives. There can be various methods through which the final choice can be selected
upon. Managers and decision makers keep both the external and internal environment in mind before
narrowing it down to one.
Importance of Strategic Choice: Some of the strategic choices make up a part of bigger strategic policies of
the company. Hence, important emphasis is given to them and decision makers follows due diligence before
coming up with a final strategic choice. At times, majority shareholder uses his influence for the final
strategic choice benefiting his agendas.
Strategic Choice Parameters: The initial process involves identifying the problem completely. Once, we
have the clear picture of the problem in hand, and then the process of short listing various solutions is
undertaken. Then comes up the strategic choice process where decision for final choice is taken considering
the various parameters in mind. Some of these parameters could be:
1. Feasibility
2. Prudence
3. Consensus
4. Acceptability

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