Chapter 6 textbook notes. Very In-depth. No need to buy the text book just read these notes!!!

7 Pages
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Department
Management and Organizational Studies
Course Code
Management and Organizational Studies 4410A/B
Professor
Maria Ferraro

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Description
Chapter 6 Strategy analysis and choiceA comprehensive strategyformulation frameworkStage 1 of the formulation framework consists of the EFE matrix IFE matrix and the competitive profile Matrix CPMCalled the input stage summarizes the basic input information needed to formulate strategiesStage 2 matching stage focuses upon generating feasible alternative strategies by aligning key external and internal factorsSWOT matrix strategic position and action evaluation SPACE matrix Boston consulting group BCG matrix internalexternal IE matrix and grand strategy matrixStage 3 decision stage is the quantitative strategic planning matrix QSPMUses input information from stage 1 to objectively evaluate feasible alternative strategies identified in stage 2Reveals the relative attractiveness of alternative strategies and this provides objective basis for selecting specific strategiesThe Input StageInformation derived from EFE matrix IFE matrix and CPM provides basic input information for matching and decision stage matricesInput tools requires strategies to quantify subjectivity during early stages of the strategyformulation processMatching stageConsists of 5 techniques that can be used in sequenceSWOT matrixSO strength OpportunitiesUses a firms internal strengths to take advantage of external opportunitiesWill typically pursue a WO ST WT strategies to get them in opportunities SO strategiesWO strategiesAim at improving internal weaknesses by taking advantage of external opportunitiesFirm could have internal weaknesses which limit it from attracting external opportunitiesST strategiesUse a firms strengths to avoid or reduce the impact of external threatsWT strategiesDefensive tactics directed at reducing internal weaknesses and avoiding external threats
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