Week3 - How to evaluate and choose an effective strategy

Question 1

How to evaluate a strategy?

Answer 1

1. Competitiveness and competitive advantage.
2. Strategic Logic & synergy
3. Financial Returns (How high are costs and returns?)
4. Ability to implement (How can we implement strategy?, Do we have required resources?)

• Link to SMART objectives

Question 2

Criteria for Effective Strategies

Answer 2

• Appropriateness (Mission + obj, culture, simplicity, skills + resources).
• Feasibility (Timing, Comp adv, finance + resources, how to implement).
• Desirability (Risk, synergy, level of returns, stakeholder needs).