Identify as many alternative strategies as possible for fixing/addressing the strategic priority (at least 3). These options should be creative and strategic, realistic and plausible, and build on firm-specific information uncovered by the situation analysis. DO NOT suggest generic or “business as usual” solutions to the problem. Also, each option MUST be mutually exclusive (this means that it is not possible to implement more than one strategy to fix the Strategic Priority). When writing each strategic response statement, please keep the following in mind:
BAD Strategic Options for the BETA Corp problem statement above:
• Bad Option #1: BETA should reduce their marketing budget by 50 percent. (This is a bad example because it does not fix the “repeat customer” problem.)
• Bad Option #2: BETA should expand their operations overseas. (This is a bad example because it is too generic, does not fix the repeat customer problem, and is not mutually exclusive with other responses.)
GOOD Strategic Options for the BETA Corp problem statement above:
• Good Option #1: BETA should develop a strategic alliance with textbook publisher GOTCHA LLC to develop paper templates for students to speed note taking in class or while reading. (This is a good example in that it may fix the specified problem, builds on firm specific resources, and it suggests a firm-specific action.)
Once stated, briefly discuss each strategic option. Use quantitative information, facts, data, etc. to convey the effectiveness of your solution. Again, be as specific as possible—no vague or overly general commentary here.
For each strategic response, discuss the following: How likely is the strategic response to fix/address the strategic priority? Will the strategic response fix/address other problems in addition to the strategic priority? How risky it the strategic alternative? What happens if solution fails?