- Published: December 31, 2021
- Updated: December 31, 2021
- University / College: University of Cambridge
- Level: Secondary School
- Language: English
- Downloads: 8
Strategic-Alternative Bundles s Strategic-Alternative Bundles The business environment isextremely uncertain. In this regard, the business managers need to be flexible as well as innovative in order to survive. Strategic alternatives enable the companies to gain competitive advantage. The strategic-alternatives bundles have various elements including exclusivity, plausibility, and if they are worthwhile.
First, Abraham (2012) argues that there is need to know if the bundles are mutual exclusive. It implies that doing one means eliminates the ability to do the others. In order to be sure, the components of one element can be common with the other. The question is directed to the whole alternative and not just certain components. On the other hand, if the check established that the strategic-alternatives are not mutually exclusive, for instance, one may have a thought to combine the first and the second strategy.
Second, the bundles need to be plausible. One needs to determine if there are good alternatives and not mediocre ones, whether there are other to put into consideration. This will enable the manager of an organization to be in a better position to establish if the course of action proposed by a certain bundle is doable.
Lastly, the strategic-alternative bundles need to be worthwhile. This will determine if implementing every one of them will result to success. Success means realizing a strategic intent and becoming stronger.
Creating more than a few bundles is very difficult because they are not just alternatives but business models with alternative visions. This implies that these models can are extremely difficult to implement in the business.
The six criteria strategic-alternative bundles should meet are (Abraham, 2012):
i. The amount of investment required. This criterion ensures practicality.
ii. Return on investment (ROI) and breakeven point.
iii. Match with the existing company culture
iv. Achievement of competitive advantage/core competence
v. Timing- There can be issues of timing to put into consideration among alternatives in question. Some alternatives are time sensitive.
vi. Increasing its bargaining power
vii. Clearly defined value position
Strategic-alternative bundles need to have objective, advantage, and scope, as well as core competencies. Scope entails who the customer is offering and geographic scope. Following this further, advantage involves a sustainable competitive advantage. Therefore, choosing alternative strategies is similar to choosing alternative bundles (Stead, Stead, & Starik, 2009).
Abraham, S. (2012). Strategic planning: A Practical guide for competitive success. New York: Emarald Group Publishing.
Stead, E., Stead, J. G., & Starik, M. (2009). Sustainable strategic management. New York: M. E. Sharpe.
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