Strategic Management and Matrix

13286 Words Nov 9th, 2008 54 Pages
Strategy Analysis and Choice

What 's Ahead

The Nature of Strategy Analysis and Choice

The Process of Generating and Selecting Strategies

A Comprehensive Strategy-Formulation Framework

The Input Stage

The Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix

The Strategic Position and Action Evaluation (SPACE) Matrix

The Boston Consulting Group (BCG) Matrix

The Internal-External (IE) Matrix

The Grand Strategy Matrix

The Decision Stage

The Quantitative Strategic Planning Matrix (QSPM)

Positive Features and Limitations of the QSPM

Cultural Aspects of Strategy Choice

The Role of a Board of Directors

Chapter Wrap-Up

What 's Ahead
Strategic analysis and choice largely
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This information, coupled with the firm 's mission statement, will help participants crystallize in their own minds particular strategies that they believe could benefit the firm most. Creativity should be encouraged in this thought process.
Alternative strategies proposed by participants should be considered and discussed in a meeting or series of meetings. Proposed strategies should be listed in writing. When all feasible strategies identified by participants are given and understood, the strategies should be ranked in order of attractiveness by all participants, with 1 = should not be implemented, 2 = possibly should be implemented, 3 = probably should be implemented, and 4 = definitely should be implemented. This process will result in a prioritized list of best strategies that reflects the collective wisdom of the group.

A Comprehensive Strategy-Formulation Framework
Important strategy-formulation techniques can be integrated into a three-stage decision-making framework, as shown in Figure 6-2. The tools presented in this framework are applicable to all sizes and types of organizations and can help strategists identify, evaluate, and select strategies.

Figure 6-2 >The Strategy-Formulation Analytical Framework
Stage 1 of the formulation framework consists of the EFE Matrix, the IFE Matrix, and the Competitive Profile Matrix. Called the Input Stage, Stage 1 summarizes

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