In strategic management terms, a strategy is the course of action an organization selects to minimize threats and maximize opportunities that emerge in the environment. Strategic alternatives are the options that management identifies as the possible courses of action for obtaining its goals. The three levels of strategic alternatives are corporate, bureaucratic, and functional.

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The three levels of strategic alternatives are corporate, business, and functional, not corporate, bureaucratic, and functional.

In Strategic Management Terms, a Strategy Is the Course of Action