Strategic process and strategic options

The strategic process rarely begins from a zero base because the intentions of decision-makers and expectations of other stakeholders are founded in social expectations. Strategic intentions and ideals provide no detailed information about the specific goals of the business. Strategic options can be deduced and selected from the strengths–weaknesses–opportunities–threats (SWOT) matrix. Business seeks a competitive advantage in the marketplace in order to achieve its goals. The SWOT matrix reveals that competitive advantage can be built on the strengths of the business, which will be reflected in its financial performance, competitiveness and market impact and through the influence of external factors on the business. Strategic eco-control provides early recognition of new opportunities and threats and periodic checks on the achievement of strategic goals. Information from the different business spheres provides the basis for analysis. Management provides the momentum for developing the business form and substance that will lead the business towards achievement of its purpose.