Business Today

What criteria are used to select the best strategy? What standards can be used to determine whether the strategy succeeds or not? Three tests can be used to evaluate the best strategic options, namely:

1. Goodness of Fit Test-good strategy should really suited to the industry and competitive conditions, market opportunities and threats, and other aspects of the external environment company. On the other hand, he also must be aligned with the strengths and weaknesses, resources, competencies, and competitive ability of the company.

2. Competitive Advantage Strategies Test-good to be able to boost the competitiveness of firms.

3. Performance Test-a good strategy should be able to improve company performance. Two types of performance improvement are most often said about the ability of the strategy are: to increase profitability and improve the company’s competitive strength and market position in the long term.

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