Identify strategic alternatives. The strategic opportunity matrix can be used to help management develop strategic alternatives. The four options are market penetration, product development, market development, and diversification.
In selecting a strategic alternative, managers may use a portfolio matrix, which classifies strategic business units as stars, cash cows, problem children, or dogs, depending on their present or projected growth and market share.
1. Based on your SWOT analysis, decide what the strategic growth options are for the company you chose.