This analysis should usually be undertaken by an individual with the widest possible range of experience of different businesses and what is, and is not, strategically possible. This is because the individual must identify as wide as possible a set of strategic options for the business. Obviously, a number will be considered inappropriate, but these reasons must be identified so that, a few years later, the possibilities can be re-assessed in the light of changing circumstances, and different options may be chosen. As a consequence of this need, this section is usually written by a consultant, and will usually identify a number of different options for various aspects of the business, often with comments on the implications of each option.

The discussion of strategic options is is often a reasonable sized document and requires discussion with the management team, followed by decisions. It is not unusual for two or three rounds of discussion to be required. During these discussions, the team is made aware of the decisions, which they have to make, and the implications of these decisions.

Extracts from a typical document are included as Appendix III of our downloadable guide. If you wish to download a copy of the guide, please click here Download Strategic Planning Guide.