Strategic Alternatives

Strategic Alternatives and Recommended Strategy

There are basically two levels on which the business or organization can construct there objectives. Firstly there is the corporate level where the objectives are mainly concern with the business as a whole. Then there is the functional; level where there is specification for the marketing activities. Both these level need to conform to the commonly used SMART criteria which is an important concept which you should try to remember and apply.

Specific- the objectives should state exactly what is to be achieved.

Measurable- an objective should be capable of measurement so that it is possible to determine whether (or how far) it has been achieved.

Achievable – an objective should be realistic given the circumstances in which it is set and the resources available to the business.

Relevant – objectives should be relevant to the people responsible for achieving them.

Time Bound – objective should be se with a time frame in mind. These deadlines also need to be realistic.

Core Competence Analysis: Core competencies are those capabilities that are critical to a business achieving competitive advantage. The starting point for analyzing core competencies is recognizing that competition between businesses is as much a race for competence mastery as it is for market position and market power.

Performance Analysis The resource audit, value chain analysis and core competence analysis help to define the strategic capabilities of a business. After completing such analysis, questions that can be asked that evaluate the overall performance of the business.

historical analysis

industry norm analysis

benchmarking

ratio analysis

Portfolio Analysis: Portfolio Analysis analyses the overall balance of the strategic business units of a business. Most large businesses have operations in more than one market segment, and often in different geographical markets. Larger, diversified groups often have...