Through the use of strategic alternatives, companies may compete in a marketplace, achieve its vision, or if no vision has been articulated, decide where it might go and what it might achieve. Strategic alternatives do not consist solely of strategies, but rather bundles. Explain what elements comprise strategic-alternative bundles and why creating more than a few bundles is extraordinary difficult. Describe the six criteria that strategic-alternative bundles should meet and discuss why it is essential that good bundles have addressed all of the key strategic issues.
It is crucial for organizations to create worthy bundles and to do so they have to look for six criteria to meet when it comes to creating strategic-alternative bundles: “be mutually exclusive (involve either/or decisions); contain significant variety; be feasible; lead to success; challenge the organization’s existing goals, aspirations, long-held assumptions, and beliefs; and have addressed all the strategic issues)” (Abraham, 2012, p.198).