What are the four stages of option identification?

The correct sequence of the four stages of option identification is the process that ensures a structured approach to generating and selecting viable options for a business change initiative. In this context, the stages involve:

1. Identify: This is the initial phase where various potential options are generated to address a specific business need or problem. It requires creativity and broad thinking to ensure that a wide range of possibilities is considered.

2. Shortlist: After identifying numerous potential options, the next step is to filter these options down to a manageable number. This step involves assessing feasibility and relevance to the business objectives, ensuring that only the most promising options move forward in the process.

3. Evaluate: In this stage, the shortlisted options are rigorously assessed against defined criteria such as costs, benefits, risks, and alignment with strategic goals. This is a critical step to ensure that the chosen options have the potential to deliver the desired outcomes.

4. Take Forward: Finally, the most viable options are selected for further development or implementation. This stage emphasizes the importance of making informed decisions based on the evaluations carried out previously.

This structured approach is essential in managing business changes effectively, as it allows organizations to explore various options systematically and ensures that decision-making