Explain in detail Expansion of the strategic choice process in strategic management

The strategic choice process in strategic management involves the development and evaluation of options, and the selection of a strategy. The process is expanded in the following steps:

1. Identifying Strategic Alternatives: The first step in the strategic choice process is to identify the strategic alternatives. These alternatives are usually derived from the strategic analysis of the organization. They could include options such as market penetration, market development, product development, diversification, etc.

2. Evaluating Strategic Alternatives: Once the strategic alternatives have been identified, the next step is to evaluate them. This involves assessing each alternative against the organization's objectives and the expected performance of the alternative. The evaluation could be based on criteria such as the feasibility of the alternative, the risk associated with it, the expected return, etc.

3. Making the Strategic Choice: After evaluating the alternatives, the next step is to make the strategic choice. This involves selecting the most suitable alternative based on the evaluation. The choice could be made by the top management or through a participative process involving other stakeholders.

4. Implementing the Strategy: Once the strategic choice has been made, the next step is to implement the strategy. This involves translating the strategy into action plans and allocating resources for its implementation. The implementation could involve changes in the organization structure, systems, and culture.

5. Reviewing and Adjusting the Strategy: The final step in the strategic choice process is to review and adjust the strategy. This involves monitoring the implementation of the strategy and the results achieved, and making necessary adjustments. The review could be done on a periodic basis or whenever there is a significant change in the organization's environment.

In conclusion, the expansion of the strategic choice process in strategic management involves a systematic approach to identifying, evaluating, choosing, implementing, and reviewing strategies. It requires a deep understanding of the organization's environment, capabilities, and objectives, and a commitment to continuous learning and improvement.