Strategic Management

TOPIC IS BEST BUY!!!
  
Choose the top 1 or 2 of the alternatives and identify this as your recommendation. Tell why you chose this strategy.
Types of strategies:
SO strategy
– Strengths & opportunities
– Use of internal strengths to exploit external opportunities
– Consider all strengths one by one listed in the SWOT analysis with each opportunity to determine how each internal strength can help you capitalize on each external opportunity
– For example… strengths such as high brand recognition or customer loyalty could be combined with the opportunity to launch a new product or service
ST strategy
– Strengths & threats
– Use of internal strengths to avoid or minimize the impact of external threats
– consider all strengths one by one listed in the swot anakysus with each threat to determine how each internal strength can help you avoid every external threat
WO strategy
– Weakness and opportunities
– Overcoming internal weakness by exploiting external opportunities
– Consider all weaknesses one by one listed in the swot analysis with each opportunity to determine how each internal weakness can be eliminated by using each external opportunity
– May have identified an opportunity to outsource some aspects of its business operations, overcoming the weakness of lack of specific skills within the organization  
– For example… 
WT strategy
– Weakness and threats
– Overcoming internal weakness and minimizing external threats
– Consider all weaknesses one by one listed in the swot analysis with each threat to determine both can avoid
– For example… strategies could include developing strategic alliances or a more drastic strategy could be to withdraw from specific market altogether
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managementstrategy