以下文字节选自历年真题，划线部分为结合案例进行分析的部分，未划线部分为通用文字（需要熟练掌握），考试时结合案例进行具体分析。

SAF model(用于评估公司所做的某个战略是否合适，比如收购)

Suitability is concerned with whether a proposed strategy addresses the circumstances in which Nehby as a company is operating, that is, its strategic position and should ask the question ‘does the rationale of the strategy make sense?’

在题目要求你对一个战略或者公司的某项action进行评估的时候，看看将要实施的战略是否跟公司现在主要业务吻合，与公司所处的行业是匹配，如果涉及到收购其他公司，还要考虑不同公司的管理风格和文化差异；

如果题目中涉及两个战略，就把每个战略的情况都分析一遍，并且要给出结论。

The acceptability of the strategy is concerned with expected outcomes in terms of return, risk and shareholder reaction. Returns are the benefits which the company would expect to gain from the strategy, both in financial and non-financial terms.

首先是从股东的角度：

• 这个战略是否可以achieving acceptable returns to shareholders;
• 这个战略产生的风险是股东能够接受的吗
• 对公司的声誉会产生什么样的影响

其次根据题目信息考虑其他的利益关联方，比如公司的员工、顾客、供应商等等

可行性，公司到底有没有充分的资源实施战略

Feasibility focuses on whether the company has the resources to pursue the strategic choices. Feasibility analysis is an evaluation of the internal capabilities of the company.

• 考虑公司是否有足够的资源去实施某项战略；

We must consider whether we have the resources we need to carry out the acquisition of the XX company.

包括公司在实现收购的时候资金的来源，是发行股票还是向外部第三方借债

• 考虑公司是否在收购方面有相关的经验；

We also need to consider our core competences and our strategic capabilities required to undertake this acquisition.

• 考虑收购之后公司在被收购公司所处的地区或者是行业是否具备相关经验；

We must also assess our skills and competences to operate and manage the company in XX country/region.

比如被收购公司员工的员工素质、工资水平是否存在问题