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Strategies are evaluated to assess whether they will he organization achieve its objective. They can be examined according to a number of different criteria, which enable a choice to be made. Johnson and Scholes narrow these to three broad categories, suitability, feasibility and acceptability
1. Suitability
This is in terms of whether a strategy fits the situation facing the firm. The questions to be asked include;
i) Does it exploit the company’s strengths and distinctive competences?
ii) Does it collect the company’s weaknesses?
iii) Does it help the firm to seize its opportunities?
iv) Does it satisfy the goals of the organization?
v) Is it consistent with other activities of the organization? Does it help firm’s size opportunities?
vi) Does it satisfy the goals of organization, is the strategy consistent with the other activities of the organization.
2. Feasibility
i) Can the strategy be implemented?
ii) Can the strategy deliver the goods and services specified in the strategy?
iii) Does the company have access to technology, materials and resources? Is there enough time to implement the strategy? Is the strategy preferable’ to other, mutually exclusive strategies?
iv) Can the company deal with the likely response that the competitors will bring?
3. Acceptability
This depends on people’s expectations of it. It is here that stakeholders’ analysis can be brought in. Stakeholders are able to exercise different degrees of power.
i. Financial considerations- whether they help meet financial objectives for ROI, profits, growth, EPS and cash flows.
ii. Customers may object to the strategy if it means reducing customer service.
iii. Environmental impact may cause key stakeholders to withhold consent.
iv. Risk a strategy which change risk return profile, for whatever reason, may not be acceptable.
Titany answered the question on October 7, 2021 at 05:47
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