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Business Ethics

The document discusses strategic choice, which refers to selecting the most appropriate action plan from different options considering an organization's position and objectives. It covers factors to consider like internal/external assessments and risks, and approaches like prescriptive and emergent strategies. Case studies and tools like SWOT analysis and scenario planning are presented, with key takeaways around adaptability, alignment, and continuous evaluation.

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bádshãh rai
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21 views9 pages

Business Ethics

The document discusses strategic choice, which refers to selecting the most appropriate action plan from different options considering an organization's position and objectives. It covers factors to consider like internal/external assessments and risks, and approaches like prescriptive and emergent strategies. Case studies and tools like SWOT analysis and scenario planning are presented, with key takeaways around adaptability, alignment, and continuous evaluation.

Uploaded by

bádshãh rai
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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STRATEGIC CHOICES

BY -
ANANYA VERMA & SHRESHTH
Introduction & Definition of
Strategic Choice

Strategic choice refers to the process of selecting the most


appropriate action plan from different available options, taking into
account the organization's current position and long-term objectives.

- Shreshth & Ananya Verma


Importance of Strategic Choice in
Business
Risk
Optimizes 2 Management 3 Competitive
Resources Helps in mitigating Advantage
Strategic choices risks and adapting to Enables differentiation
ensure efficient unpredictable market and competitive edge
resource allocation, dynamics for by aligning actions with
maximizing the sustainable growth. strategic intent.
organization's potential
for success.
Factors to Consider When Making
Strategic Choices
Internal Analysis External Assessment Risk Evaluation
Evaluating organizational Analyzing market trends, Assessing potential
strengths, weaknesses, and competition, and potential outcomes and impact on
capabilities. opportunities. organizational objectives.
Different Approaches to Strategic
Choice
Prescriptive Approach Emergent Strategy
Offers a structured method to decision- Focuses on flexibility and adaptation to
making based on analytical processes. evolving market conditions.
Case Studies of Successful
Strategic Choices

Data-Driven Innovative Solutions


Utilizing empirical evidence and market Implementing inventive and forward-thinking
insights in strategic decision-making. strategies for growth.
Common Pitfalls in Strategic Choice

Overlooking Resistance to
Lack of Alignment
Risks Change
When strategies are not Ignoring potential threats Failure to embrace
congruent with and uncertainties in the necessary adaptations for
organizational capabilities decision-making process. sustainable growth and
and resources. success.
Tools and Frameworks for
Strategic Choice

5 3
Scenario
SWOT Analysis Planning
Evaluating strengths, weaknesses, Developing alternative views of the future and
opportunities, and threats for informed their implications on strategy.
decisions.
Conclusion and Key Takeaways
1 Adaptability
Flexibility is key for continuous adaptation and sustainable success.

2 Strategic
Alignment
Aligning decisions with the organizational mission and long-term
vision.

3 Continuous
Evaluation
Regularly reviewing and adjusting strategies for relevance and
effectiveness.

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