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when evaluating the option we use the JSW frame work and that is suitability,acceptability and feasibility
Feasibility is regarding the finance resources
Acceptability is about risk return and stake holders reaction
suitability is about whether strategy address the issues identified when considering the strategic position of the companyI don’t understand only about suitability please explain only about the suitability ,and what are the things that I have to consider in using suitability when evaluating the option
For example:
If a PESTEL analysis has identified that markets in Asia are likely to grow quickly, a suitable strategy might be to open branches there or take over an Asian distributor.
If 5 forces analysis indicated that competition was fierce and that the existing cost leadership strategy wasn’t generating good profits, a suitable strategy might be to move up-market and follow a differentiation strategy.
If an analysis of resources showed that the organisation had poor IT, a suitable strategy would be to update that.
As you know, the suggested strategies above, whilst suitable might be neither feasible (for example not enough money or expertise) or acceptable to stakeholders.
I couldn’t still understand it well
Suitability means that whether the option are adequate response to firm assessment of strategic position, and also the cultural fit.
I want to know that what are the things that I have to know and I think when evaluating the option whether it is suitable or not,
Please tell me how can I be sure in applying the suitability ,and how can I be sure about this suitability,but I know about feasibility and acceptability
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