Deliberate Strategy:
Deliberate strategy, also known as prescriptive or planned strategy, is the result of a formal strategic planning process. In this process, management typically carries out a strategic position analysis, identifies and evaluates strategic alternatives, makes strategic choices, and implements the chosen strategies. These strategies are set out in a formal business plan or strategic plan, which is regularly reviewed and amended if necessary. Formal strategic planning also involves the use of management aids and planning techniques, such as SWOT analysis and the use of models like Porter’s Diamond and Porter’s Five Forces.

Emergent Strategy:
Emergent strategy is not formally planned but arises in response to unforeseen developments and opportunities. These strategies may emerge from employees or junior managers, rather than senior management. Once a new strategy has emerged, the organization applies it consistently. Companies often develop both deliberate and emergent strategies. An emergent strategy might eventually be included in a formal business plan, thus becoming part of a deliberate strategy.

Incremental Strategy:
Incremental strategy refers to a strategy that is developed slowly over time by making small changes to existing strategies. These changes are often not large or far-reaching because management does not see the need for significant changes. However, when the business environment is changing rapidly, small changes may not be sufficient to ensure the survival of the organization, potentially leading to strategic drift. Incremental strategy is safer in a very stable environment where changes are small and gradual.

(4 marks for each well-explained strategy = 12 marks)