Which stage of the strategy evaluation process focuses on generating feasible alternative strategies?

B) MatchingC) DecisionD) PenetrationE) Research59) Which stage of the strategy-formulation framework contains the Internal-Factor Evaluation Matrix?

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60) The match an organization makes between its internal resources and skills and the opportunities andrisks created by its external factors can be defined asC

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61) Which section of the SWOT Matrix involves matching internal strengths with external opportunities?

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62) Which strategies aim at improving internal weaknesses by taking advantage of external opportunities?A) SOB) WOC) SWD) STE) WT

63) Which strategies use a firm's strengths to avoid or reduce the impact of external threats?

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64) Which strategies are defensive tactics directed at reducing internal weaknesses and avoiding externalthreats?

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Chapter 6This chapter focuses on generating and evaluating alternative strategies, as well as selecting strategies to pursue.Strategy analysis and choice seek to determine alternative courses of action that could best enable the firm to achieve its mission and objectives. Strategists neverconsider all feasible alternatives that could benefit the firm because thereare an infinite number of possible actions and an infinite number of ways to implement those actions.Involvement provides the best opportunity for managers and employees to gain an understanding of what the firm is doing and why and to become committed tohelping the firm accomplish its objectives.Creativity should be encouraged in the proposals of alternative strategies.Called the input stage, Stage 1 summarizes the basic input information needed to formulate strategies. Stage 2, called the matching stage, focuses on generating feasiblealternative strategies by aligning key external and internal factors. Stage 3, called the decision stage, involves a single technique, the Quantitative Strategic PlanningMatrix (QSPM).Stage 1 of the strategy-formulation analytical framework consists of the External Factor Evaluation (EFE) Matrix, the Internal Factor Evaluation (IFE) Matrix, and theCompetitive Profile Matrix (CPM).Stage 2 techniques include the Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the BostonConsulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix.A QSPM uses input information from Stage 1 to objectively evaluate feasible alternative strategies identified in Stage 2. It reveals the relative attractiveness ofalternative strategies and thus provides an objective basis for selecting specific strategies.For example, a firm with excess working capital (an internal strength) could take advantage of the cell phone industry’s 20 percent annual growth rate (an externalopportunity) by acquiring Cellfone, Inc. This example portrays simpleone-to-one matching.

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58. Which stage of the strategy formulation framework contains the Internal-FactorEvaluation Matrix?a. input stageb. analysis stagec. matching staged. decision stagee. output stageAns: a Page: 219

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Índice

• 1. The Input Stage
• 2. The Matching Stage
• 3. The Decision Stage
• Which stage of the strategy-formulation framework includes the IFE matrix * Input stage analysis stage matching stage decision stage?
• Which stage of the strategy-formulation framework contains the Grand Strategy Matrix?
• Which stage of the strategy-formulation framework involves the?
• Which stage of the strategy-formulation framework includes the IFE Matrix?
• Which stage of the strategy-formulation framework includes an internal factor evaluation matrix and an external factor evaluation matrix?
• Which matrix is included in the decision stage of the strategy-formulation?
• Which stage of the strategy-formulation framework includes an IFE matrix and a competitive profile matrix?
• Which stage of the strategy-formulation framework includes an IE matrix and the BCG Matrix?
• Which stage of the strategy-formulation analytical framework includes the use of the internal factor evaluation matrix?
• Which stage of the strategy-formulation framework involves the quantitative strategic planning?
• What is grand strategy matrix?
• Which matrix is included in the decision stage of the strategy-formulation framework group of answer choices?
• Which stage of the strategy-formulation framework includes an IE matrix and the BCG matrix?
• Which stage of the strategy-formulation framework includes the IFE Matrix *?
• Which stage of the strategy-formulation framework includes?
• Which stage of the strategy formulation framework includes an IE matrix and the BCG matrix?
• Which stage of the strategy formulation framework includes an IFE Matrix and the?
• What are the stages of strategy formulation framework?
• Which matrix is included in the decision stage of the strategy?
• Which matrix is included in the decision?
• Which matrix is an important tool of strategy-formulation?
• What is a QSPM Matrix?
• Which stage of the strategy-formulation framework includes the IFE matrix and competitive profile matrix?
• Which stage of the strategic formulation framework involves the quantitative?

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.

Stage 1 of the strategy-formulation analytical framework consists of the External Factor Evaluation (EFE) Matrix, the Internal Factor Evaluation (IFE) Matrix, and the Competitive Profile Matrix (CPM). Called the input stage, Stage 1 summarizes the basic input information needed to formulate strategies. Stage 2, called the matching stage, focuses on generating feasible alternative strategies by aligning key external and internal factors. Stage 2 techniques include the Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix. Stage 3, called the decision stage, involves a single technique, the Quantitative Strategic Planning Matrix (QSPM). A QSPM uses input information from Stage 1 to objectively evaluate feasible alternative strategies identified in Stage 2. It reveals the relative attractiveness of alternative strategies and thus provides an objective basis for select­ing specific strategies. The QSPM is a more robust way to determine the relative attractiveness of strategies than the 1) summed ranking method described above, or the 2) individual vs group ranking method described on pages 366-367 in Part 6).

All nine techniques included in the strategy-formulation analytical framework require the integration of intuition and analysis. Autonomous divisions in an organization commonly use strategy-formulation techniques to develop strategies and objectives. Divisional analyses provide a basis for identifying, evaluating, and selecting among alternative corporate-level strategies.

Strategists themselves, not analytic tools, are always responsible and accountable for strate­gic decisions. Lenz emphasized that the shift from a words-oriented to a numbers-oriented plan­ning process can give rise to a false sense of certainty; it can reduce dialogue, discussion, and argument as a means for exploring understandings, testing assumptions, and fostering organiza­tional learning.1 Strategists, therefore, must be wary of this possibility and use analytical tools to facilitate, rather than to diminish, communication. Without objective information and analysis, personal biases, politics, prejudices, emotions, personalities, and halo error (the tendency to put too much weight on a single factor) oftentimes play a dominant role in the strategy-formulation process, undermining effectiveness. Thus, an analytical approach is essential for achieving maxi­mum effectiveness in strategic planning.

1. The Input Stage

Procedures for developing an EFE Matrix, an IFE Matrix, and a CPM were presented in Chapters 3 and 4. Information derived from the EFE Matrix, IFE Matrix, and CPM provides basic input information for the matching and decision stage matrices described in this chapter.

The input tools require strategists to quantify subjectivity during early stages of the strategy- formulation process. Making small decisions in the input matrices regarding the relative impor­tance of external and internal factors allows strategists to more effectively generate, prioritize, evaluate, and select among alternative strategies. Good intuitive judgment is always needed in determining appropriate weights and ratings, but keep in mind that a rating of 3, for example, is mathematically 50 percent more important than with a rating of 2, so small differences matter.

2. The Matching Stage

Strategy is sometimes defined as the match an organization makes between its internal resources and skills and the opportunities and risks created by its external factors.2 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. These tools rely on information derived from the input stage to match external opportunities and threats with internal strengths and weaknesses. Matching external and internal key factors is the essential for effectively generating feasible alternative strategies. For example, a firm with excess working capital (an internal strength) coul

Source: David Fred, David Forest (2016), Strategic Management: A Competitive Advantage Approach, Concepts and Cases, Pearson (16th Edition).d take advantage of the cell phone industry’s 20 percent annual growth rate (an external opportunity) by acquiring Cellfone, Inc. This example portrays sim­ple one-to-one matching. In most situations, external and internal relationships are more complex, and the matching requires multiple alignments for each strategy generated. Successful matching of key external and internal factors depends on those underlying key factors being specific, actionable, and divisional to the extent possible. The basic concept of matching is illustrated in Table 6-1.

3. The Decision Stage

As indicated above, participants could individually rate strategies on a 1-to-4 scale as to desir­ability, and then sum the ratings from all participants, so that a prioritized list of the best strate­gies could be achieved. However, the QSPM, described later in this chapter, offers a more robust procedure to determine the relative attractiveness of alternative strategies.

Source: David Fred, David Forest (2016), Strategic Management: A Competitive Advantage Approach, Concepts and Cases, Pearson (16th Edition).

Stage 1

Which stage of the strategy-formulation framework includes the IFE matrix * Input stage analysis stage matching stage decision stage?

The answer is A) input stage.

Which stage of the strategy-formulation framework contains the Grand Strategy Matrix?

The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix are included in stage two of the strategy-formulation framework.

Which stage of the strategy-formulation framework involves the?

The first stage of the strategy-formulation framework is the input stage, and it is directly followed by the decision stage. Stage 2 in the strategy-formulation framework involves the Quantitative Strategic Planning Matrix.

Which stage of the strategy-formulation framework includes the IFE Matrix?

Stage 1

Which stage of the strategy-formulation framework includes an internal factor evaluation matrix and an external factor evaluation matrix?

The answer is A) input stage.

Which matrix is included in the decision stage of the strategy-formulation?

Stage 1 of the strategy-formulation analytical framework consists of; – The External Factor Evaluation (EFE) Matrix. – The Internal Factor Evaluation (IFE) Matrix. – The Competitive Profile Matrix (CPM). – Stage 1 Called the input stage, Stage 1 summarizes the basic input information needed to formulate strategies.

Which stage of the strategy-formulation framework includes an IFE matrix and a competitive profile matrix?

Phase 1 consists of the IFE, EFE, matrix and Competitive Profile Matrix (CPM) which is called the input stage which summarizes the basic information needed in formulating a strategy.

Which stage of the strategy-formulation framework includes an IE matrix and the BCG Matrix?

6) The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix are included in stage two of the strategy-formulation framework.

Which stage of the strategy-formulation analytical framework includes the use of the internal factor evaluation matrix?

The first stage of the strategy-formulation framework is the input stage, and it is directly followed by the decision stage. Stage 2 in the strategy-formulation framework involves the Quantitative Strategic Planning Matrix.

Which stage of the strategy-formulation framework involves the quantitative strategic planning?

Stage 1

What is grand strategy matrix?

Stage 2 in the strategy-formulation framework involves the Quantitative Strategic Planning Matrix.

Which matrix is included in the decision stage of the strategy-formulation framework group of answer choices?

The Grand Strategy Matrix is a tool to chart the position of a product or company within a market, much like the ADL Matrix, and select certain strategies, similar to the Strategy Clock or Generic Strategies.

Which stage of the strategy-formulation framework includes an IE matrix and the BCG matrix?

6) The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix are included in stage two of the strategy-formulation framework.

Which stage of the strategy-formulation framework includes the IFE Matrix *?

Stage 1 of the strategy-formulation analytical framework consists of; – The External Factor Evaluation (EFE) Matrix. – The Internal Factor Evaluation (IFE) Matrix. – The Competitive Profile Matrix (CPM). – Stage 1 Called the input stage, Stage 1 summarizes the basic input information needed to formulate strategies.

Which stage of the strategy-formulation framework includes?

Stage 1

Which stage of the strategy formulation framework includes an IE matrix and the BCG matrix?

6) The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix are included in stage two of the strategy-formulation framework.

Which stage of the strategy formulation framework includes an IFE Matrix and the?

The IFE Matrix is the Internal-Factor Evaluation matrix. It is used to measure performance based on a company’s strengths and weaknesses. The IFE matrix is significant within the strategy-formulation framework because it provides direction for the way in which the strategy should go.

What are the stages of strategy formulation 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).

Which matrix is included in the decision stage of the strategy?

Stage three, called the decision stage, involves a single technique, the Quantitative Strategic Planning Matrix (QSPM). A QSPM uses input information from stage one to objectively evaluate feasible strategies identified in stage two.

Which matrix is included in the decision?

The correct option is D) Grand Strategy Matrix Grand Strategy Matrix is used for deciding and choosing the best strategic method for a

The first stage of the strategy-formulation framework is the input stage, and it is directly followed by the decision stage. Stage 2 in the strategy-formulation framework involves the Quantitative Strategic Planning Matrix.

What is a QSPM Matrix?

The Grand Strategy Matrix has become a popular tool for formulating feasible strategies, along with the SWOT Analysis, SPACE Matrix, BCG Matrix, and IE Matrix. Grand strategy matrix is the instrument for creating alternative and different strategies for the organization.

Which stage of the strategy-formulation framework includes the IFE matrix and competitive profile matrix?

Phase 1 consists of the IFE, EFE, matrix and Competitive Profile Matrix (CPM) which is called the input stage which summarizes the basic information needed in formulating a strategy.

Which stage of the strategic formulation framework involves the quantitative?

6) The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix are included in stage two of the strategy-formulation framework.

Which stage in the strategy

What is the key to generate feasible alternative strategies?

Which strategy

Which stage of the strategy