Strategy and strategic options

A strategic plan outlines a company’s goals and means to achieve them and provides a roadmap for management and leadership. A successful strategy is based on smart choices. The probability of success increases with carefully crafted strategic options that help to deal with the uncertainty and complexity involved in the choices.

A market-based view of strategy focuses on the external environment, while a resource-based view emphasises factors internal to the firm. In practical strategy making, both views become intertwined. Information and assumptions on changes in the operating environment, trends in customer expectations, current and new competitors, pace of technological change, etc. affect strategic choices. On the other hand, the firm's resources and capabilities may restrict its strategic options in the short term. Decision-makers’ ability to deal with complex information, as well as their experience, prejudices and risk aversion also impact strategic choices.

Benefits

  • Gives structure to discussion on topics that are hard to grasp, and elevates discussion to a strategic level
  • Helps to embrace ambiguity and to avoid getting stuck on a single idea
  • Encourages to test different strategic options and to justify the choices made
  • Drives rich and structured strategic conversations, expanding decision-makers’ strategic thinking
  • Helps to identify genuine options available in various strategic issues
  • Broadens horizons and promotes a shared understanding within management
  • Helps decision-makers to focus on relevant issues after different options have been openly examined

Examples of strategies we have created with clients

  • Corporate and business strategies
  • Owner strategies
  • Growth strategies
  • Internationalisation strategies
  • Competitive strategies
  • Market and customer strategies
  • Portfolio strategies: product, service and customer portfolios
  • Technology strategies: technology portfolios and roadmaps
  • Digital strategies
  • New business development strategies

Read more about our references related to strategies, and please contact us if you want to hear more about our strategy services. 

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