Strategy Analysis and Choice
What's Ahead
The Nature of Strategy Analysis and Choice
The Process of Generating and Selecting Strategies
A Comprehensive Strategy-Formulation Framework
The Input Stage
The Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix
The Strategic Position and Action Evaluation (SPACE) Matrix
The Boston Consulting Group (BCG) Matrix
The Internal-External (IE) Matrix
The Grand Strategy Matrix
The Decision Stage
The Quantitative Strategic Planning Matrix (QSPM)
Positive Features and Limitations of the QSPM
Cultural Aspects of Strategy Choice
The Role of a Board of Directors
Chapter Wrap-Up
What's Ahead
Strategic analysis and choice largely involves making subjective decisions based on objective information. This chapter introduces important concepts that can help strategists generate feasible alternatives, evaluate those alternatives, and choose a specific course of action. Behavioral aspects of strategy formulation are described, including politics, culture, ethics, and social responsibility considerations. Modern tools for formulating strategies are described, and the appropriate role of a board of directors is discussed.
Objectives
After studying this chapter, you should be able to do the following:
1. Describe a three-stage framework for choosing among alternative strategies.
2. Explain how to develop a TOWS Matrix, SPACE Matrix, BCG Matrix, IE Matrix, an ...