Name – Dixita Jaiswal 28

Komal Dubey 14
Neha Mestry 37
Nita Jakhi 29
STD:TYBBI
Subject – Strategic Management
Selecting the best strategy that will
enable a firm achieve its goals.
Some strategy options are
appropriate than others.
Strategists should evaluate the
existing alternatives before choosing
the best strategy.
 STRATEGIC CHOICE
“ The decision to select from among the grand
strategies considered, the strategy which will best
meet the enterprise’s objective. The decision involves
focusing on a few alternatives considering the
selection factors, evaluating the alternatives
against these criteria and making the actual
choice.”
- Prof. Azhar Kazmi
 Focusing on strategic alternative -
Focusing on alternative could be done by visualizing
the future state and working backwards.

 Analyzing the strategic alternative -

At the corporate level: 1. Expansion Strategy
2. Stability Strategy
3. Retrenchment Strategy
4. Combination Strategy
 Evaluating the strategic alternative-
Evaluation of strategic alternatives basically
involves bringing together the analysis done on the
basis of the objective and subjective factors.

 Choosing from among the strategic alternative-

This is the final step of making the strategic choice.
One or more strategies have to be chosen for
implementation.
 Strategic plan (also called a corporate, group or
perspective plan), is a document which provides
information regarding the differences elements of
strategic management and the manner in which an
organization and its strategist propose to put the
strategies into action.
 Basic steps in a strategic planning process are as
follows:
 Step One - Getting Ready
 Step Two - Articulating Mission and Vision
 Step Three - Assessing the Situation
 Step Four - Developing Strategies, Goals, and
Objectives
 Step Five - Completing the Written Plan
 This strategy is formulate in advance to deal with
uncertainties that are a natural part of business.
There are few approach to help companies to develop
and implement this strategy i.e. model of
contingency planning process:
 Identifying contingency events
 Establishing the trigger points
 Developing strategies and tactics
 Our intention in this section is not promote any one
view of strategy, but rather suggest a number that
seem useful.
 In pursuing the different definitions, it will be
helpful to think about the meaning of strategy, to
try understand how different people have used the
term, and, later to see if certain definitions hold up
better in particular context.
 Finally, the different models of choice of strategy
suggest above all that strategy is a concept.