Alternate transcripts work if your grades are poor in one particular area (like quant), not if they are poor across the board. You could make up for your bad grades by enrolling for similar courses in a local college. Again, this is hard work - and you will have to make sure you do well on the courses for them to have an effect.
Other than that, the option is to make up for the academic shortfall by strong performance in other areas (e.g. at work, on the GMAT)
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