What does the phrase "strategic alternatives" mean?

Answer

"Strategic alternatives" generally refers to an organization's considered plan of action that is consistent with its objectives. In the corporate world, strategic alternatives are often mentioned when dealing with a particular challenge.

Devising strategic alternatives is ideally the result of careful planning and analysis, and it is usually the function of management along with the marketing department. Strategic planning isn't exclusive to business, though. Governments and individuals can also benefit from identifying one or more strategic alternatives that lead to the best possible outcome. Identifying these options allows an individual or entity to face trying circumstances or changing conditions with confidence.

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It's used for gaining competitive advantage.
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It's used for gaining competitive advantage. !
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