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Strategic options

Strategic options

Strategic Options Once a company has completed a situation analysis and identified its key issues, it will want to consider its strategic options. All companies have options and the strategic planning challenge is three fold:

  1. To determine which option has most valuing creating potential
  2. To ensure consensus and alignment amongst the management team
  3. To execute excellently with commitment, passion and pace

When considering strategic options, it is helpful to focus on each option individually and develop a plan on the assumption that it is the option that will be pursued i.e. judgment and evaluation are suspended whilst the option is being worked up.

Having worked up the option, it is then important to capture the likes and the concerns of each individual member of the management team. The plan for the option can be improved by selecting the top concerns and considering ways to reduce the concerns. The result is a stronger more robust plan. 

At this stage, the option can then be evaluated on the basis of:

  • Attractiveness
  • Feasibility
  • Risk

This process can be repeated for each option in turn.

Two things usually emerge.

  1. There is a clear front running option
  2. There is a high degree of consensus amongst the management team

What can also sometimes emerge is that the best option to pursue is a hybrid of several options.

Finally, when considering options, do not be afraid to push the envelope and consider one or two that are left field. When doing so, it’s rare for something of use not to emerge even if the option itself is rejected.

To discuss your business critical issue

Please call Paul New on 020 8390 9972 or send a message.

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To discuss your business critical issue, please call Paul New on 020 8390 9972 or send a message.

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