The fourth major step in the strategic planning process involves considering the advantages (and disadvantages) of various strategic alternatives in light of the competitive analysis. While weighing alternatives, managers need to take into account the goals of their firm and also the competitive status of other firms in the industry
Depending on the size of the firm, there are two levels of strategic alternatives that a firm must consider. The first level, global strategic alternatives (applicable primarily to MNCs), determines what overall approach to the global marketplace a firm wishes to take. The second level, entry strategy alternatives, applies to firms of any size; these alternatives determine what specific entry strategy is appropriate for each country in which the firm plans to operate. Entry strategy alternatives will be discussed in a later section. We now turn to the two main global strategic approaches to world markets - globalization and regionalization.
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