Developing strategic options
by
carolinecopeman
—
last modified
12 Feb 2010 10:06 AM
After you have done the analysis about developing your strategy - how to make decisions.
A vital step in strategy development is about taking all of the ideas emerging from the analysis, weighing them up, and making some decisions about your course of action to achieve the Vision and Mission.
Whilst there are some tools to help, some of this activity is about using your experience, taking a 'punt', having the strength of mind to go for it. Safely!
Pages in this section
- SWOT: a really useful tool to help collect together all of your thinking from your external and internal analysis.
- SWOT'ing a PEST: using a combination of these two useful strategy tools to develop some strategic options.
- Decision making matrix: sometimes deciding between strategic options is really tough; this matrix might not make the decision much easier but at least you will have an opportunity to compare options reasonably objectively.
- Cost benefit analysis: considering both elements is an important part of decision making
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