競合相手とはいえ、さまざまな策を__________ことは必ずしもいいことではない。
• 巡らす
• 取り巻く
• 回す
• 囲む

The answer is 巡らす.

"Even if competing against a rival, thinking up a bunch of different strategies is not always a good idea."

All of the answers are similar in that they can have a meaning of "enclosing" or "going around [something]".

囲む -"to surround" or "to enclose" something, such as being surrounded by people.

取り巻く -the exact same, and can be used interchangeably. However, 取り巻く can also be used for abstract concepts, while 囲む cannot.

回す -"to turn/rotate" or "to pass something around".

巡らす - also has the meanings above, but is the only one with the additional meanings of "to think over" or "to work out".