tailieunhanh - Strategic Management Part 3

Grand strategy matrix is a last matrix of matching strategy formulation framework. It same as important as BCG, IE and other matrices. This chapter enables you to understand the preparation of GS matrix. | Strategic Management MGT603 _VU Lesson 30 GRAND STRATEGY MATRIX Learning objective Grand strategy matrix is a last matrix of matching strategy formulation framework. It same as important as BCG IE and other matrices. This chapter enables you to understand the preparation of GS matrix. The Quantitative Strategic Planning Matrix QSPM The last stage of strategy formulation is decision stage. In this stage it is decided that which way is most appropriate or which alternative strategy should be select. This stage contains QSPM that is only tool for objective evaluation of alternative strategies. A quantitative method used to collect data and prepare a matrix for strategic planning. It is based on identified internal and external crucial success factors. That is only technique designed to determine the relative attractiveness of feasible alternative action. This technique objectively indicates which alternative strategies are best. The QSPM uses input from Stage 1 analyses and matching results from Stage 2 analyses to decide objectively among alternative strategies. That is the EFE Matrix IFE Matrix and Competitive Profile Matrix that make up Stage 1 coupled with the TOWS Matrix SPACE Analysis BCG Matrix IE Matrix and Grand Strategy Matrix that make up Stage 2 provide the needed information for setting up the QSPM Stage 3 . Preparation of matrix Now the question is that how to prepare QSPM matrix. First it contains key internal and external factors. An internal factor contains strength and weakness and external factor include opportunities and threats . It relates to previously IFE and EFE in which weight to all factors. Weight means importance to internal and external factor. The sum of weight must be equal to one. After assigning the weights examine stage-2 matrices and identify alternatives strategies that the organization should consider implementing. The top row of a QSPM consists of alternative strategies derived from the TOWS Matrix SPACE Matrix BCG Matrix .