As part of being a CEO, one is rarely confronted by two clear cut choices between right or wrong. The choices often differ by few points only, but rejecting the better one can have far reaching consequences. Broadly speaking there are five major choices that CEOs need to confront in the present business scenario. They need to decide behind pursuing disruptive business innovation versus leveraging existing company strength areas. The next choice would be between opting for cost differentiation or providing unique value proposition to customers. A third major challenge would be either to pursue international expansion or to manage risk domestically by consolidating on existing business channels and strengthening those. Another conundrum would be between providing services to customers at rapid pace versus a slower output but high focus on quality and aesthetics. Finally the CEO needs to decide between going for talent recruitment or developing in-house existing personnel in order to develop a more integrated team.

Source:https://hbr.org/2016/12/how-ceos-can-make-smart-strategic-trade-offs