After Environmental Scanning, formulation of Vision, Mission, and Goals, SWOT Analysis, the following steps are followed :

Review of Strategic Alternatives;

Evaluation and choice of Strategy;

Strategy Implementation; and

Evaluation and Control of Strategy

REVIEW OF STRATEGIC ALTERNATIVES

Review of Strategic Alternatives is the step in Planning Strategy process immediately after the Environmental (internal and external) Scanning, formulation of Organisational Vision, Mission and Goals, and analyzing Strengths, Weaknesses, Opportunities and Threats to an Organisation under the SWOT Analysis.

Once the Organisational Objectives are analysed, organizational Vision, Mission, and Goals are formed, and the Strengths, Weaknesses, Opportunities and Threats are analysed, the people involved in planning Strategy should take further steps to formulate various alternative Strategies with the aim to achieve the Organisational Goals.

For accomplishing one Organisational Goal, there may be several strategic options may be available. For example, Organisational Growth in may be one of the Goals, and the same may be achieved by way of increasing the market Share of Company’s existing products, or by venturing into a new product line. In the the Organisation chooses the first alternative, that is to achieve Organisational Growth by way of increasing the market Share of Company’s existing products, the same may be achieved by various alternatives such as increasing the production capacity by purchase of more machines, or by increasing manpower. In case an Organisation decides to venture into a new product line, the same may be done by setting up an altogether different unit, or by acquiring any other existing profitable business by way of mergers and acquisitions, so on and so forth.

In the aforesaid example, different strategies available to an Organisation for the purpose of achieving Organisational Goals are reviewed keeping in view the Organisational Goals planned to be achieved, and also the Strenghs, Weaknesses, Opportunities and Threats of an Organisation.

It is therefore necessary to review the maximum possible strategies available to an Organisation.

EVALUATION AND CHOICE OF STRATEGY

After reviewing the widest possible strategies available to an Organisation for the purpose of achieving the planned Organisational Goals, the next step is to evaluate all the alternative Strategies and choose the best strategy amongst several alternative Strategies evaluated.

The purpose of considering and evaluation the widest possible Strategies available to an Organisation is to choose and adopt the most optimum and appropriate Strategy at a given point of time.

For evaluating all strategies

Review of Strategic Alternatives is the step in Planning Strategy process immediately after the Environmental (internal and external) Scanning, formulation of Organisational Vision, Mission and Goals, and analyzing Strengths, Weaknesses, Opportunities and Threats to an Organisation under the SWOT Analysis.

Once the Organisational Objectives are analysed, organizational Vision, Mission, and Goals are formed, and the Strengths, Weaknesses, Opportunities and Threats are analysed, the people involved in planning Strategy should take further steps to formulate various alternative Strategies with the aim to achieve the Organisational Goals.

For accomplishing one Organisational Goal, there may be several strategic options may be available. For example, Organisational Growth in may be one of the Goals, and the same may be achieved by way of increasing the market Share of Company’s existing products, or by venturing into a new product line. In the the Organisation chooses the first alternative, that is to achieve Organisational Growth by way of increasing the market Share of Company’s existing products, the same may be achieved by various alternatives such as increasing the production capacity by purchase of more machines, or by increasing manpower. In case an Organisation decides to venture into a new product line, the same may be done by setting up an altogether different unit, or by acquiring any other existing profitable business by way of mergers and acquisitions, so on and so forth.

In the aforesaid example, different strategies available to an Organisation for the purpose of achieving Organisational Goals are reviewed keeping in view the Organisational Goals planned to be achieved, and also the Strenghs, Weaknesses, Opportunities and Threats of an Organisation.

It is therefore necessary to review the maximum possible strategies available to an Organisation.

EVALUATION AND CHOICE OF STRATEGY

After reviewing the widest possible strategies available to an Organisation for the purpose of achieving the planned Organisational Goals, the next step is to evaluate all the alternative Strategies and choose the best strategy amongst several alternative Strategies evaluated.

The purpose of considering and evaluation the widest possible Strategies available to an Organisation is to choose and adopt the most optimum and appropriate Strategy at a given point of time.

For evaluating all strategies

Review of Strategic Alternatives is the step in Planning Strategy process immediately after the Environmental (internal and external) Scanning, formulation of Organisational Vision, Mission and Goals, and analyzing Strengths, Weaknesses, Opportunities and Threats to an Organisation under the SWOT Analysis.

Once the Organisational Objectives are analysed, organizational Vision, Mission, and Goals are formed, and the Strengths, Weaknesses, Opportunities and Threats are analysed, the people involved in planning Strategy should take further steps to formulate various alternative Strategies with the aim to achieve the Organisational Goals.

For accomplishing one Organisational Goal, there may be several strategic options may be available. For example, Organisational Growth in may be one of the Goals, and the same may be achieved by way of increasing the market Share of Company’s existing products, or by venturing into a new product line. In the the Organisation chooses the first alternative, that is to achieve Organisational Growth by way of increasing the market Share of Company’s existing products, the same may be achieved by various alternatives such as increasing the production capacity by purchase of more machines, or by increasing manpower. In case an Organisation decides to venture into a new product line, the same may be done by setting up an altogether different unit, or by acquiring any other existing profitable business by way of mergers and acquisitions, so on and so forth.

In the aforesaid example, different strategies available to an Organisation for the purpose of achieving Organisational Goals are reviewed keeping in view the Organisational Goals planned to be achieved, and also the Strenghs, Weaknesses, Opportunities and Threats of an Organisation.

It is therefore necessary to review the maximum possible strategies available to an Organisation.

EVALUATION AND CHOICE OF STRATEGY

After reviewing the widest possible strategies available to an Organisation for the purpose of achieving the planned Organisational Goals, the next step is to evaluate all the alternative Strategies and choose the best strategy amongst several alternative Strategies evaluated.

The purpose of considering and evaluation the widest possible Strategies available to an Organisation is to choose and adopt the most optimum and appropriate Strategy at a given point of time.

For evaluating all strategies