List and describe Rumelt's four criteria for evaluating strategies.

 Rumelt's four criteria for evaluating strategies are consistency, consonance, feasibility, and advantage. Consonance and advantage are mostly based on a firm's external assessment, whereas consistency and feasibility are largely based on an internal assessment. Consistency: A strategy should not present inconsistent goals and policies. Organizational conflict and interdepartmental bickering may be a sign of strategic inconsistency. Consonance: This refers to the need for strategists to examine sets of trends, as well as individual trends, in evaluating strategies. A strategy must represent an adaptive response to the external environment and to the critical changes occurring within it. Feasibility: This is the final broad test of strategy. A strategy must neither overtax available resources nor create unsolvable sub problems. Can the strategy be attempted within the physical, human, and financial resources of the enterprise? Advantage: A strategy must provide for the creation and/or maintenance of a competitive advantage in a selected area of activity. Competitive advantages normally are the result of superiority in one of three areas: resources, skills, or position.

Ready for finals now

Good luck my friend!