6. Strategy Formulation Analysis & Choices
Overview
This Chapter explains how to formulate effective strategies once the internal and external audits are completed. This chapter presents and exemplifies six widely used strategic planning matrices:
1- SWOT (Strengths-Weaknesses-Opportunities-Threats) Matrix,
2- BCG (Boston Consulting Group) Matrix,
3- SPACE (Strategic Position and Action Evaluation) Matrix,
4- IE (Internal-External) Matrix,
5- Grand Strategy Matrix, and
6- QSPM (Quantitative Strategic Planning Matrix).
This chapter also describes the nature and role of boards of directors in strategic planning.
Learning Objectives