I’m working on a management discussion question and need an explanation and answer to help me learn.
Follow the posted PowerPoint slides on “The
Process of Generating and Selecting Strategies” to provide a one-page step-by-step discussion on the steps you are following to formulate numerous strategies (strategy statements), group related strategies, and select the top strategy or strategies that you will recommend in your final report for your case study company to implement in the next 12 months.The Process of Generating
and
Selecting Strategies
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The Strategy-Formulation Analytical Framework
STAGE 1: Gather Inputs
EFE Matrix, CPM, and IFE Matrix
STAGE 2: Use a Matrix to Match Inputs,
SWOT Matrix, SPACE Matrix,
BCG Matrix
Identify Appropriate Strategy Types, and
Generate Feasible Strategy Statements
STAGE 3: Select the Most Attractive
QSPM Matrix
Strategies
Core Values
Vision
Mission
L-T Strategic Objectives
Strategies
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Figure 6.2 The Strategy-Formulation
Analytical Framework
Copyright © 2020, 2017, 2015 Pearson Education, Inc. All Rights Reserved
The Process of Generating and
Selecting Strategies
• Develop a manageable set of alternative strategies.
• Determine their advantages and disadvantages.
• Involve in evaluating alternative strategies the managers
and employees who earlier determined the vision, mission,
external audit, and internal audit.
• Discuss the proposed alternative strategies in meetings.
• List the proposed strategies in writing.
• Rank all feasible strategies in order of attractiveness.
• Select very few appropriate strategies for implementation.
Copyright © 2020, 2017, 2015 Pearson Education, Inc. All Rights Reserved
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