Competitive Business Strategy: Captive Company Strategy
Liquidation:This is another alternative strategy used when the other three alternatives have not successfully worked. Most companiesopts for liquidation than bankruptcy.
Choosing the best strategy alternatives Choosing the best strategies alternatives is very crucial and also challenging. It is associated with a number of considerable factors which include. i. The strategies must be in line with the objectives and decision criteria in the organization ii. The strategies must be relevant to the mission and vision of the company. iii. The strategies must possess realistic assessment of the competitive environment and trends. iv. The strategies must fit the company’s product life cycle position and market attractiveness. v. They must be easy for implementation vi. The risks associated with the strategies must be accepted in coherence with the possible …show more content…
Evaluation of the new strategic system can be achieved either qualitatively or quantitatively. Quantitative evaluation is based on data and it is done through post facto analysis to detect whether the strategic system is effectively working. Qualitative evaluation is done before execution of the new system. It is a time consuming process but aimed at bring corrective mechanism that benefits the organization. Control includes overseeing workplace, employees, activities and output if they conform to the expected standards. The management must ensure progress review periodically to determine whether the changes are effective. In case there is no conformity to the expected level of performance, corrective mechanisms are taken. Control system involves feedback systems which enable the mangers to evaluate if the company is achieving superior efficiency, quality, innovation and customer responsiveness