ABSTRACT
This chapter provides tools to test the soundness of one's strategy alternatives and set the way forward. There is much effort and energy that goes into setting strategy. The synthesis and insights that emerge from the strategy process end up defining the purpose and path for one's organization. The chapter describes the seven criteria and supporting questions to test strategic alternative(s). They are confidence in data, board approval, industry dynamics, cultural shift, strategic fit, financial impact and overall risk. These seven criteria can be used by any CEO to sense-check their strategy and, importantly, make their thinking and appetite for risk visible to ensure they have covered the bases they want covered, their executive team can weigh in and, importantly, it can pass shareholder and board approval. Companies that are growing profitably during uncertain times are doing so by sense-checking their strategies against robust criteria rather than talking themselves into a mind-set that their chosen course is correct.
