ABSTRACT
This chapter provides a methodology to compare strategic options leading to a decision support frame-work to support board-level discussion over which option to select for implementation. The evaluation presented here consists of assessing whether each option is appropriate, feasible and desirable; and linking this with a financial assessment and an assessment of risk. Finally, the scenarios are brought into play to judge how each strategic option fits with different possible futures. The decision support framework described and explained in the chapter comprises the Evaluation Matrix and Scenario Matrix which together are the basis for comparing and selecting options. Strategy is not like a project proposal to the board that might get nodded through if the numbers look good; strategy selection can have fundamental long-term consequences. When the strategic options are considered at board-level, a broad-based discussion is likely to follow, over a number of meetings, as the breadth of experience and insight of board members chews over the options.
