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The Matching Stage and Decision Stage STAGE 2: The Matching Stage The matching stage of the strategy-formulation framework consists of five techniques that can be used in any sequence: the SWOT Matrix, the SPACE Matrix, the BCG Matrix, the IE Matrix, Grand Strategy Matrix, and the Balance Scoreboard. These tools rely on information derived from the input stage to match external opportunities and threats with internal strengths and weaknesses. 1. SWOT MATRIX – is an important matching tool that helps managers develop four types of strategies: SO strategies, WO strategies, ST strategies, and WT strategies. ● Strengths–Opportunities (SO) - Use of internal strengths to take advantage of opportunities. ●Strengths–Threats(ST) - Use of internal strengths to avoid or minimize the impact of threats. ●Weaknesses–Opportunities (WO) - Overcoming internal weaknesses by taking advantage of external opportunities. ●Weaknesses–Threats (WT) - Overcoming internal weaknesses and avoiding/minimizing external threats. 2. Internal - External Factor Evaluation Matrix – is another strategic management tool used to analyze working conditions and strategic position of a business. The Internal External Matrix or short IE matrix is based on an analysis of internal and external business factors which are combined into one suggestive model. ● Three Strategies under Internal - External Evaluation Matrix The IE matrix can be divided into three major regions that have different strategy implications. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. what do you do better or have more merit than your rivals do? In case of weaknesses, ask whichareas of your business you can develop and at least catch up with your competitors?Competitive Profile Matrix (CPM)is an important method for strategic analysis. CPM helpscompany owners, shareholders and other stakeholders to see the strengths and weaknesses of allmajor industry rivals on a single page. CPM not only lets you put all these on a single tab, but alsodistils a large amount of data into a single number ranking. Before you can generate a CPM, you needto define the qualities that matter to the industry. For example, if you run a store, you can have fourmain attributes: location, product range, price and customer service. Next, you need to allocate aweight for each attribute. What are the stages of the strategy formulation analytical framework?Techniques of strategy formulation can be integrated into a decision making framework. Strategies can be identified, evaluated and selected by this framework that includes three stages: (1) input stage, (2) matching stage, and (3) decision stage (Figure 1) (David, 2007).
How many techniques are included in the strategy formulation analytical framework?The matching stage of the strategy-formulation framework consists of five techniques that can be used in any sequence: the SWOT Matrix, the SPACE Matrix, the BCG Matrix, the IE Matrix, and the Grand Strategy Matrix.
Which technique is included in Stage 3 of the strategy formulation analytical framework?Stage three, called the decision stage, involves a single technique, the Quantitative Strategic Planning Matrix (QSPM).
Which stage of the strategy formulation framework includes the IFE Matrix?The strategy-formulation framework has three stages; the input stage, the matching stage, and the decision stage. The input stage includes the use of the IFE and EFE matrix.
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The strategy-formulation analytical framework consists of how many stages and how many matrices?
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