There could be more than one strategy chosen but there is a chance of an inherent danger or disadvantage to any choice made. In addition to deciding the scope and direction of an organisation,choices also need to be made about how to achieve the goal.
Johnson and Scholes suggest that viewing strategy through only one of these lenses can mean that problems that the other lenses might show up are missed.
Key factors are often summarised as opportunities and threats. Emergent strategies do not arise out of conscious strategic planning, but result from a number of ad hoc choices, perhaps made lower down the hierarchy.
They prefer to see and grab opportunities as they arise. Returns calculations can be performed by any number of methods such as cost-benefit analysis, profitability analysis, real-options analysis and shareholder value analysis.
Broadly, information about the organisation and its environment is collected and rational decisions are made about future courses of action.
Most strategic planning and implementation will involve change, so managing change, in particular employees' fears and resistance, is crucial.
Strategic Managers do not evaluate all the possible options open to them but choose between relatively few alternatives. Often, the larger the organisation, the less able it is to adopt early essential but radical changes.