To determine what type of adaptive strategy will work best for the organization the CEO, top leaders and strategic managers need to decide which would be the best directional strategy for the organization. It is time to grow, become smaller, or remain the same. Once the directional strategy has been decided the leaders must now choose an adaptive strategy.
There are six methods to evaluate an adaptive strategy named in our text; Essentials for Strategic Management (Chapter 7);
- External/internal strategy matrix
- Product Life Cycle (PLC) analysis
- Boston Consulting Group (BCG) portfolio analysis
- Extended portfolio matrix analysis
- Strategic position and action evaluation (SPACE)
- Program evaluation
After reviewing these methods for evaluation please select one and briefly tell the class why you choose this method. Describe the method and tell us about the advantages and disadvantages of using this method.
Swayne, L. E., Duncan, W. J., &Ginter, P. M. (2013). Strategic management of health care organizations (7th ed.). Hoboken, NJ: Wiley.