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Strategic choices relate to direction and method

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Strategic choices relate both to the direction in which the strategy may move and also the method by which that strategy may be pursued. What methods are open to organisations wishing to implement a new strategy and what are the advantages and disadvantages of each.

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Strategic planning is discussed very comprehensively in this explanation.

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There are two main methods that are open to organizations wishing to implement a new strategy. One is to change its resources the other is to change its competencies. The third method is a combination of both.

If a company decides to change its resources, the advantages are that the company can pick and select the most appropriate resource. For instance, if the company has to buy new machines to differentiate its products, the company can select the machines with the latest technology and gain competitive advantage. The disadvantage of ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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