Business: What are strategic options?

A strategic option can be 1 of 3 if you are using Porter's Generic Strategy: 1.low cost leadership; 2. Differentiation; 3. Focus/ niche from this options you can be a cost focus or differentiation focus. In the eg you used the acquisition was a method that can be used to develop the strategic option. However, before you decide on a method you must first consider the direction which will be used to pursue the option. The Direction can stem fron the Ansoff Matrix and include: market development, product development, market penetration or diversification. So the order is first select an option, then decide the direction and finally choose a method to support the option. I hope the info is helpful!!!!