{"id":1063,"date":"2022-04-20T11:19:00","date_gmt":"2022-04-20T09:19:00","guid":{"rendered":"https:\/\/support.centreforelites.com\/introduction-to-strategic-choice\/"},"modified":"2023-04-14T11:01:21","modified_gmt":"2023-04-14T09:01:21","slug":"introduction-to-strategic-choice","status":"publish","type":"post","link":"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/","title":{"rendered":"Introduction to Strategic Choice"},"content":{"rendered":"<p>This article deals with strategic choice. This implies that there are many alternating or array of strategies from which the organisation can chose based on the outcome of the organisation&#8217;s environmental analysis. In making strategic choice, the manager must take cognizance of certain factors like structure and the <a href=\"https:\/\/motivemeaning.com\/organisational-culture-leadership-and-rewards\/\">culture<\/a> of the organisation.&nbsp;&nbsp;&nbsp;&nbsp;Strategic choice basically comprises strategy generation, <a href=\"https:\/\/motivemeaning.com\/strategy-evaluation-4-excellent-techniques-to-consider\/\">strategy evaluation<\/a> and selection. The techniques of doing these are presented in the article.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d8fead0c8b4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d8fead0c8b4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Choice_of_Elements_of_Strategic_Management\" >&nbsp;Choice of Elements of Strategic Management<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Generation_of_Strategic_Options\" >&nbsp;&nbsp;Generation of Strategic Options<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Evaluation_of_Strategic_Options\" >Evaluation of Strategic Options<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Selection_of_Strategic_Options\" >&nbsp;Selection of Strategic Options<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Strategy_Formulation\" >&nbsp;Strategy Formulation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Basic_Alternative_Competitive_Strategies\" >&nbsp;&nbsp;Basic Alternative Competitive Strategies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#The_Direction\" >The Direction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Summary_of_Strategic_Options\" >Summary of Strategic Options<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Do_Nothing\" >&nbsp;&nbsp;Do Nothing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Withdrawal\" >&nbsp;Withdrawal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Consolidation\" >&nbsp;&nbsp;Consolidation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Retirement\" >&nbsp;Retirement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Market_Penetrations\" >&nbsp;&nbsp;Market Penetrations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Product_Development\" >&nbsp;Product Development<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Market_Development\" >Market Development<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Diversification\" >&nbsp;Diversification<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Other_Strategic_Options\" >Other Strategic Options<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Liquidation\" >Liquidation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Divestment\" >Divestment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Turnaround\" >Turnaround<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Strategy_Thrusts\" >Strategy Thrusts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Differentiation\" >&nbsp;Differentiation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Cost\" >Cost<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#_Innovation\" >&nbsp;Innovation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Growth\" >Growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#Alliance\" >Alliance<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-choice\/#CONCLUSION\" >CONCLUSION<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Choice_of_Elements_of_Strategic_Management\"><\/span>&nbsp;Choice of Elements of Strategic Management<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After a critical analysis of both the internal and external environment of\u00a0the organisation, the management needs to generate a number of\u00a0strategic possibilities. Thus, there is a need for techniques that will\u00a0assist in the <a href=\"https:\/\/support.centreforelites.com\/ru\/master-monitoring-and-evaluation-in-5-minutes\/\">evaluation<\/a> of the available options and choices. Thus,\u00a0essentially the choice element of the\u00a0<a href=\"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-management\/\">strategic management<\/a>\u00a0is concerned\u00a0with choosing a strategy based on the results of the foundations laid by\u00a0the strategic analysis.<\/p>\n\n\n\n<p>Any good manager must be able to generate and&nbsp;evaluate possible strategies taking cognisance of the nature of his\/her&nbsp;own organisation or industry. The manager must seriously consider the&nbsp;risk, structure and culture of the organisation before making a&nbsp;straight choice. In this article, we shall discuss the techniques of&nbsp;generating, evaluating and selecting strategic options. The <a href=\"https:\/\/support.centreforelites.com\/ru\/elements-compounds-and-mixtures\/\">elements<\/a> that&nbsp;are usually associated with making strategic choices are shown in the following Figure.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><a href=\"https:\/\/blogger.googleusercontent.com\/img\/a\/AVvXsEgBvhF3MU4RXJP2sUk9AFfnhP5I564inkGH6BgDjr4waczNBxv-7pqSCS16fCf7ctwTH40xjRUmdK84d1NpGfdY_BlFeAZsV15G8Xq_yypSW26ZGOXO8RKVtXo7AVZ1A_euXBESjse54Ze6ArAp6PJTDmlBFTTZR733berJhBfxMEiEfvvyO2ZJVi5X=w640-h500\"><img decoding=\"async\" src=\"https:\/\/blogger.googleusercontent.com\/img\/a\/AVvXsEgBvhF3MU4RXJP2sUk9AFfnhP5I564inkGH6BgDjr4waczNBxv-7pqSCS16fCf7ctwTH40xjRUmdK84d1NpGfdY_BlFeAZsV15G8Xq_yypSW26ZGOXO8RKVtXo7AVZ1A_euXBESjse54Ze6ArAp6PJTDmlBFTTZR733berJhBfxMEiEfvvyO2ZJVi5X=w640-h500\" alt=\"Introduction to Strategic Choice\"\/><\/a><figcaption class=\"wp-element-caption\">Choice of <a href=\"https:\/\/support.centreforelites.com\/ru\/elements-compounds-and-mixtures\/\">Elements<\/a> of Strategic Management<\/figcaption><\/figure>\n\n\n\n<p>Basically, strategic choice has three aspects:<\/p>\n\n\n\n<p>&nbsp;(i)&nbsp; The generation of strategic options which go beyond the most obvious courses of action identifying the options.<\/p>\n\n\n\n<p>(ii)&nbsp; The <a href=\"https:\/\/support.centreforelites.com\/ru\/master-monitoring-and-evaluation-in-5-minutes\/\">evaluation<\/a> of strategic options which may be based on exploiting an organisation&#8217;s relative&#8221;s strengths or on overcoming its weakness.<\/p>\n\n\n\n<p>(iii)&nbsp; The selection of a preferred strategy which will enable the organisation to seize opportunities within its environment or to counter threats from competitors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Generation_of_Strategic_Options\"><\/span>&nbsp;&nbsp;Generation of Strategic Options<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Generation of strategy options involves identifying as many as possible potential courses of action. In reality, to find all possible courses of action may not be feasible but the fact is that only the very obvious ones are spotted or identified.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Evaluation_of_Strategic_Options\"><\/span>Evaluation of Strategic Options<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The <a href=\"https:\/\/support.centreforelites.com\/ru\/master-monitoring-and-evaluation-in-5-minutes\/\">evaluation<\/a> of strategic options is done within the frame-work produced by strategic analysis.&nbsp;The various alternatives listed as&nbsp;strategic options have to be tested for strategic fit (suitability), feasibility and acceptability, which are the three major <a href=\"https:\/\/support.centreforelites.com\/ru\/master-monitoring-and-evaluation-in-5-minutes\/\">evaluation<\/a> criteria.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Selection_of_Strategic_Options\"><\/span>&nbsp;Selection of Strategic Options<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Usually, the selection of strategic options results in a single strategy or a set of strategies that can be used in the&nbsp;<a href=\"https:\/\/www.blogger.com\/blog\/post\/edit\/7193241829689759114\/6987886462003400473#\">strategy implementation<\/a>&nbsp;process. The major factors that normally influence strategy selection process are the culture and the power structure of the organisation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Strategy_Formulation\"><\/span>&nbsp;Strategy Formulation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/motivemeaning.com\/business-strategy-formulation-the-5-levels-of-concern\/\">Strategy Formulation<\/a> is an element in strategic choice process which has the aim of generating adequate flow of strategic options for subsequent <a href=\"https:\/\/support.centreforelites.com\/ru\/master-monitoring-and-evaluation-in-5-minutes\/\">evaluation<\/a>. There are many ways of doing this. Johnson and Scholes (1993) suggest identification, what basis \u201cwhich direction and how options\u201d.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Basic_Alternative_Competitive_Strategies\"><\/span>&nbsp;&nbsp;Basic Alternative Competitive Strategies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Porter classifies three possible ways for an organisation to outperform its competitive rivals based on five competitive forces acting on an organisation. This is later reduced to four. He says that the choice is between three generic business strategies, which are low cost, differentiation, focus\/niche. The generic strategies are in two parts: (a) <a href=\"https:\/\/motivemeaning.com\/fundamental-product-concepts\/\">Product<\/a> differentiation and (b) overall leadership. The focus\/niche aspect of the strategy concerns a distinct segment. This aspect is further sub-divided by Porter to low cost, focus\/niche and differentiation focus\/ niche to give the four generic strategies.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><a href=\"https:\/\/i0.wp.com\/www.iedunote.com\/img\/22496\/4-types-of-competitive-strategy.png\"><img decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.iedunote.com\/img\/22496\/4-types-of-competitive-strategy.png\" alt=\"Porter's four generic strategies in Strategic Choice\"\/><\/a><figcaption class=\"wp-element-caption\">Porter&#8217;s four generic strategies involved in Strategic Choice<\/figcaption><\/figure>\n\n\n\n<p>In spite of its criticism, the notion of generic strategies is pragmatically useful as a device to force explicit consideration of the way of competing by showing the alternatives as by lowest cost (giving strength from strong loyalties) and where competing showing the alternatives as everywhere or in a segment. This model&#8217;s limitation is the complexity&nbsp;of the reality on ground and in many instances the effective management is to create some <a href=\"https:\/\/support.centreforelites.com\/ru\/elements-compounds-and-mixtures\/\">mixture<\/a> of the strategies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Direction\"><\/span>The Direction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are many strategic directions which an organisation can focus.&nbsp;These different directions have been put together and modelled by Ansoff (1968).&nbsp;Seven alternative directions have been indicated. The&nbsp;seventh alternative, with its diversification, is divided further into two sub-options, i.e. related and unrelated business areas.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Summary_of_Strategic_Options\"><\/span>Summary of Strategic Options<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>&nbsp;<\/td><td>Internal<\/td><td>Acquisitions<\/td><td>Joint<\/td><\/tr><tr><td>1 Do nothing<\/td><td>&#8211;<\/td><td>&#8211;<\/td><td>&#8211;<\/td><\/tr><tr><td>2 Withdrawal<\/td><td>Liquidate<\/td><td>Complete sell out partial divestment management buy out.<\/td><td>Licensing subcontracting<\/td><\/tr><tr><td colspan=\"2\">3 Consolidation <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">Growth<\/a> with market increase: &#8211;&nbsp;&nbsp;quality &#8211;&nbsp;&nbsp;productivity &#8211;&nbsp;&nbsp;marketing Capacity Reduction\/rationing<\/td><td>Buy and shut down<\/td><td>&#8211; Technology transfer sub\u00adcontracting<\/td><\/tr><tr><td>4 Market penetration<\/td><td>Increase: &#8211;&nbsp;&nbsp;quality &#8211;&nbsp;&nbsp;productivity &#8211;&nbsp;&nbsp;marketing<\/td><td>&#8211; Buy market share industry rationalisation<\/td><td>Collaborations<\/td><\/tr><tr><td>5 Product <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">development<\/a><\/td><td>Research and <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">Development<\/a> modifications Extensions<\/td><td>Buy-one products<\/td><td>Licensing, franchising, consortia, lease facilities<\/td><\/tr><tr><td>6 Market <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">development<\/a><\/td><td>Extend sales area Export new segments New uses<\/td><td>Buy competitors<\/td><td>New agents licensing consortia<\/td><\/tr><tr><td>7 Background <a href=\"https:\/\/support.centreforelites.com\/ru\/definitions-and-models-of-mental-health-and-illness\/\">integration<\/a> Forward <a href=\"https:\/\/support.centreforelites.com\/ru\/definitions-and-models-of-mental-health-and-illness\/\">integration<\/a> Unrelated diversification<\/td><td colspan=\"2\">Switch focus new units Minority Create subsidiaries&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;holdings buy subsidiaries<\/td><td>&#8211;&nbsp;&nbsp;Technology &#8211;&nbsp;&nbsp;Exclusive &#8211;&nbsp;&nbsp;Franchising<\/td><\/tr><tr><td colspan=\"4\"><strong>Source: Scholes (1993)<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>&nbsp;The summary of the strategic options indicating the various directions an organisation are hereby discussed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Do_Nothing\"><\/span>&nbsp;&nbsp;Do Nothing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This means that the organisation will have to continue in the present direction, i.e. maintain the status quo. As a long-term measure, it may not be beneficial but as a short-term, it may be appropriate.&nbsp; Some <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> may occur if the current market grows. Otherwise everything remains constant or the same.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Withdrawal\"><\/span>&nbsp;Withdrawal<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Under this situation, the organisation is removed from the industry because of an irreversible decline in demand, changes or opportunity cost which indicates that other business ventures offer more appropriate strategic directions. It is more of a strategy for asset realisation and resource deployment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Consolidation\"><\/span>&nbsp;&nbsp;Consolidation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Strictly speaking, it is a strategy adopted to maintain the existing market share. It is done when a dominant organisation aims at stability in order to accumulate cash reserves for some future activities. This can be achieved by cutting costs or increasing prices with the aim of obtaining a better margin.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Retirement\"><\/span>&nbsp;Retirement<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It is different from consolidation when its main aim is to obtain a reduction in the scale of operations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Market_Penetrations\"><\/span>&nbsp;&nbsp;Market Penetrations<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Using this strategy, the organisation seeks to increase market share, i.e.&nbsp;sales <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> within the same market for the present product(s) or services through greater marketing efforts in which the market shares of others can be grabbed. It includes increasing the number of sales persons, advertising expenditure, extensive sales promotions or publicity effort. It is regarded as the most conservative of <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> strategies since it builds on the strength of the organisation and requires no easy during the <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> phase. It may meet fierce opposition if the market is static or declining.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Product_Development\"><\/span>&nbsp;Product Development<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This strategy seeks increase by increasing or modifying present products or services. The strategy keeps the organisation operating with current markets but competing on the basis of <a href=\"https:\/\/motivemeaning.com\/new-product-development\/\">new product<\/a>. So, <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> is achieved if the <a href=\"https:\/\/motivemeaning.com\/new-product-development\/\">new products<\/a> are successful. <a href=\"https:\/\/motivemeaning.com\/the-product-development-process\/\">Product development<\/a> usually entails large expenditures. It is a relatively low-risk strategy and one that works well when products life cycles are short and products are the natural spin-off from research and <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">development<\/a> process.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_Development\"><\/span>Market Development<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This involves introducing present <a href=\"https:\/\/motivemeaning.com\/fundamental-product-concepts\/\">products<\/a> or services into new geographical areas or new markets. It is a relatively high risk strategy given the state of ignorance of the new market. When <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> is sought and existing markets have little scope, this direction is taken into new areas, new market segments or new market uses. It is least risky when the organizations competence is product-related rather than market-related.<\/p>\n\n\n\n<p>In Zambia today, many domestic firms are striving hard to carry their <a href=\"https:\/\/motivemeaning.com\/fundamental-product-concepts\/\">products<\/a> abroad. It is, however, to be noted that expansion into the world market is no guarantee for success. It is important to allow greater care in quality control and customer service.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Diversification\"><\/span>&nbsp;Diversification<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This strategy takes the organisations away from both the existing markets and existing <a href=\"https:\/\/motivemeaning.com\/fundamental-product-concepts\/\">products<\/a>. This has the highest risk of all strategies because of unfamiliarity. But related diversification remains broadly within this same industry, either backward into the supply chain, forward into the distribution chain or horizontal into complementary activities and so lowers the risk. However, unrelated diversification is a popular strategy among the holding company conglomerates.<\/p>\n\n\n\n<p>The strategy is becoming less popular since business organisations are finding it difficult to manage diverse business activities. Firms are advised to \u201cstick to the knitting\u201d and not to stray away too far from the firm&#8221;s area of competence. Nevertheless, diversification is still an appropriate and successful strategy. Sometimes for a company like Philip Morris, diversification makes sense because cigarette consumption is declining, product liability suits are a risk and some investors reject tobacco stock on principle.<\/p>\n\n\n\n<p>It is possible to implement <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> strategies by means of internal organic <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">development<\/a> of <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> over time.&nbsp;&nbsp;However, this is slow.<\/p>\n\n\n\n<p><a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">Growth<\/a> can also be by external <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">development<\/a> via mergers and acquisitions. This may be expensive but is fast gaining access to marketers through joint ventures. The organisation will have to consider the trade-off between cost\/risk\/speed and shape the choice between these alternatives.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_Strategic_Options\"><\/span>Other Strategic Options<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Broad strategy&nbsp;&nbsp;alternatives and other strategic options may&nbsp;&nbsp;be&nbsp;considered besides those earlier mentioned. They include <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a>, stability and retrenchment. The <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> strategies reproduce <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">development<\/a>, diversification, market <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">development<\/a> or market penetration strategies. The stability strategies are doing nothing (also referred to as holding) and consolidation (or harvesting) strategies. The retrenchment strategies can, in turn, be considered according to Robson (1997) in three subdivisions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Liquidation\"><\/span>Liquidation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This involves selling all the company&#8221;s assets in part for their tangible worth. Liquidation is the recognition of defeat and could be an emotional and difficult strategy. However, it may be better to lease operation than to continue to lose large sums of money. It could also be a redeployment of resources to somewhere else.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Divestment\"><\/span>Divestment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It involves selling a division or part of an organisation. It could be part of an overall retrenchment exercise, to reed an organisation of businesses that are unprofitable, that require too much capital or that may not fit well into the organisation&#8221;s other activities. Divestment can also be adopted when the organisation perceives threats in the environment such that the division can no longer be effective. The strategy is often associated with returning to the core business by shedding peripheral activities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Turnaround\"><\/span>Turnaround<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This strategy is used to recover from forced liquidation of business or bankruptcy. It is the most complex strategy to pursue since turning a non-profitable business into a profitable one will be beyond management skills of the organisation. It may be a strategy resulting from new management or owning groups.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategy_Thrusts\"><\/span>Strategy Thrusts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Other authorities (Rackff et al, 1985) have expanded on Porter&#8221;s work on competitive strategies and offered a more comprehensive model of industry competition. They suggest that strategic thrusts are the major moves or actions that an organisation takes, which may be offensive or defensive in nature. The strategic thrusts model suggests that all possible activities can be summed up in the words of Robson (1997) as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Differentiation\"><\/span>&nbsp;Differentiation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This aims to get an advantage by distinguishing products and services from competitor or by reducing the differentiation advantage of rivals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cost\"><\/span>Cost<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This aims at getting an advantage by reducing own suppliers&#8221; or customers&#8221; costs by raising the costs of rivals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Innovation\"><\/span>&nbsp;Innovation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This is aimed at getting an advantage by introducing a product change that fundamentally changes the industry&#8221;s method of business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Growth\"><\/span>Growth<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This aims to get an advantage by volume or geographic expansion, backward or forward <a href=\"https:\/\/support.centreforelites.com\/ru\/definitions-and-models-of-mental-health-and-illness\/\">integration<\/a>, product line or entry diversification.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Alliance\"><\/span>Alliance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This is diverted at getting an advantage by forging marketing&nbsp;agreements, forming joint ventures or making acquisitions related to the other four thrusts.<\/p>\n\n\n\n<p>These strategies can be applied to three possible targets or categories, which are:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Supplier Targets:&nbsp;&nbsp;<\/strong>those providing the organisation with&nbsp;materials, capital, labour, services, etc.<\/li>\n\n\n\n<li><strong>Customer Targets:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/strong>those requiring the organisation&#8221; s products<\/li>\n<\/ol>\n\n\n\n<p>or services, either for their own use or for subsequent re-sale.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Competitor Target:&nbsp;<\/strong>those selling or potentially selling products seen by customers to be the same as, or tolerable substitutes for,&nbsp;those produced by the organisation.<\/li>\n<\/ol>\n\n\n\n<p>This model, as indicated, permits the analysis of the three strategic targets of the organisation&#8221;s industry and makes the manager aware of the main actions the organisation can take in the quest for competitive gain. So, with this kind of model, the organisation should always know its strategic target, whether it is the suppliers, customers or competitors.<\/p>\n\n\n\n<p>The organisation should also know the kind of strategic thrust to be used against the target, be it differentiation, cost innovation or <a href=\"https:\/\/support.centreforelites.com\/ru\/definition-of-growth-and-development\/\">growth<\/a> of alliance. The strategic model should also be known, whether it will be offensive or defensive and the direction of thrust to be used, be it usages or provision. These strategies have to be properly considered before the choice of a strategic option. Often times, it is better to use a combination of strategies to achieve desired goals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"CONCLUSION\"><\/span>CONCLUSION<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This article deals with the three <a href=\"https:\/\/support.centreforelites.com\/ru\/elements-compounds-and-mixtures\/\">elements<\/a> of strategic choice and the mode. It is clear that there are certain factors to be considered before making a strategic choice. The factors are strategy generation, <a href=\"https:\/\/support.centreforelites.com\/ru\/master-monitoring-and-evaluation-in-5-minutes\/\">evaluation<\/a> and strategy selection. There are usually alternative competitive strategies. One of them is chosen based on critical and proper <a href=\"https:\/\/support.centreforelites.com\/ru\/master-monitoring-and-evaluation-in-5-minutes\/\">evaluation<\/a> of these alternatives as well as the focus of the organisation.<\/p>","protected":false},"excerpt":{"rendered":"<p>This article deals with strategic choice. This implies that there are many alternating or array of strategies from which the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":136,"footnotes":""},"categories":[136],"tags":[91],"class_list":["post-1063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategic-management","tag-strategic-management"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Choice-in-Business.jpg?fit=640%2C494&ssl=1","jetpack-related-posts":[{"id":1066,"url":"https:\/\/support.centreforelites.com\/ru\/fundamental-approach-to-strategic-management\/","url_meta":{"origin":1063,"position":0},"title":"Fundamental Approach to Strategic Management","author":"centreforelites","date":"20 \u0430\u043f\u0440\u0435\u043b\u044f, 2022","format":false,"excerpt":"The approach to strategic management should be an integrated one. The approach should bring together various aspects of management such as marketing strategy,","rel":"","context":"\u0412 &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/ru\/category\/strategic-management\/"},"img":{"alt_text":"Fundamental Approach to Strategic Management","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Fundamental-Approach-to-Strategic-Management.webp?fit=595%2C396&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Fundamental-Approach-to-Strategic-Management.webp?fit=595%2C396&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Fundamental-Approach-to-Strategic-Management.webp?fit=595%2C396&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":791,"url":"https:\/\/support.centreforelites.com\/ru\/introduction-to-strategic-management\/","url_meta":{"origin":1063,"position":1},"title":"Introduction to Strategic Management","author":"centreforelites","date":"18 \u0430\u043f\u0440\u0435\u043b\u044f, 2022","format":false,"excerpt":"Strategic management provides better guidelines to the entire organisation on the crucial point of \u201cwhat is it we are trying to do and to achieve\u201d? It makes managers more alert to the winds of change, new opportunities\u00a0and threatening developments. It also provides managers with a rationale for evaluating competing\u00a0budget\u00a0requests for\u2026","rel":"","context":"\u0412 &quot;Blog&quot;","block_context":{"text":"Blog","link":"https:\/\/support.centreforelites.com\/ru\/category\/blog\/"},"img":{"alt_text":"Strategic management","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1125,"url":"https:\/\/support.centreforelites.com\/ru\/the-concept-of-strategic-management\/","url_meta":{"origin":1063,"position":2},"title":"The Concept of Strategic Management","author":"centreforelites","date":"28 \u043c\u0430\u0440\u0442\u0430, 2022","format":false,"excerpt":"\u00a0Strategic management provides better guidelines to the entire organisation on the crucial point of \u201cwhat is it we are trying to do and to achieve\u201d? It makes managers more alert to the winds of change, new opportunities\u00a0and threatening developments. It also provides managers with a rationale for evaluating competing budget\u2026","rel":"","context":"\u0412 &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/ru\/category\/strategic-management\/"},"img":{"alt_text":"Strategic management","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1053,"url":"https:\/\/support.centreforelites.com\/ru\/information-technology-management-strategies\/","url_meta":{"origin":1063,"position":3},"title":"INFORMATION TECHNOLOGY MANAGEMENT STRATEGIES","author":"centreforelites","date":"20 \u0430\u043f\u0440\u0435\u043b\u044f, 2022","format":false,"excerpt":"\u00a0This article deals with the strategic information system, with a particular attention on information technology management strategies. In recent times, the principles of strategic management are being applied to manage information system delivery. A little aspect of this application system is enumerated in this article. Details of the strategic management\u2026","rel":"","context":"\u0412 &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/ru\/category\/strategic-management\/"},"img":{"alt_text":"INFORMATION TECHNOLOGY MANAGEMENT STRATEGIES","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/INFORMATION-TECHNOLOGY-MANAGEMENT-STRATEGIES.jpg?fit=820%2C465&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/INFORMATION-TECHNOLOGY-MANAGEMENT-STRATEGIES.jpg?fit=820%2C465&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/INFORMATION-TECHNOLOGY-MANAGEMENT-STRATEGIES.jpg?fit=820%2C465&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/INFORMATION-TECHNOLOGY-MANAGEMENT-STRATEGIES.jpg?fit=820%2C465&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1062,"url":"https:\/\/support.centreforelites.com\/ru\/business-strategic-planning\/","url_meta":{"origin":1063,"position":4},"title":"Business Strategic Planning Process","author":"centreforelites","date":"20 \u0430\u043f\u0440\u0435\u043b\u044f, 2022","format":false,"excerpt":"This article talks about Business strategic planning in an organisation. This was devised by corporate leaders to implement strategies\u00a0that will enhance the competitiveness of each business unit. It differs from the yearly fiscal plans of the organisation. Strategic Planning \u00a0\u00a0Background Information on Business Strategic Planning Strategic planning (SP) evolved in\u2026","rel":"","context":"\u0412 &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/ru\/category\/strategic-management\/"},"img":{"alt_text":"Business Strategic Planning Process","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":793,"url":"https:\/\/support.centreforelites.com\/ru\/7-strategic-management-components\/","url_meta":{"origin":1063,"position":5},"title":"7 Strategic Management Components","author":"centreforelites","date":"18 \u0430\u043f\u0440\u0435\u043b\u044f, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=WEAjAFytFoc INTRODUCTION In formulating strategies, there are basic components or elements that we usually consider. These include company mission, profile, goals, objectives, strategy and policy. The components are not so cleanly and neatly performed in actual practice. Usually, there is an interplay of the elements. The boundaries between the components\u2026","rel":"","context":"\u0412 &quot;Blog&quot;","block_context":{"text":"Blog","link":"https:\/\/support.centreforelites.com\/ru\/category\/blog\/"},"img":{"alt_text":"Strategic Management Components","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management-Components.webp?fit=1160%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/posts\/1063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/comments?post=1063"}],"version-history":[{"count":1,"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/posts\/1063\/revisions"}],"predecessor-version":[{"id":1313,"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/posts\/1063\/revisions\/1313"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/media\/1312"}],"wp:attachment":[{"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/media?parent=1063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/categories?post=1063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/support.centreforelites.com\/ru\/wp-json\/wp\/v2\/tags?post=1063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}