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100% found this document useful (1 vote) 261 views 2 pages Original TitleThe Strategy Formulation Analytical Framework Copyright© © All Rights Reserved Share this documentDid you find this document useful?100% found this document useful (1 vote) 261 views2 pages The Strategy Formulation Analytical Framework: External Factor Evaluation (EFE) MatrixOriginal Title:The Strategy Formulation Analytical Framework Jump to Page You are on page 1of 2 You're Reading a Free Preview Reward Your CuriosityEverything you want to read. Anytime. Anywhere. Any device. No Commitment. Cancel anytime.  Input stage: stage 1 of the strategy-formulation analytical framework that summarizes the basic inputinformation needed to formulate strategies; consists of an EFEM, CPM, and IFEM.Internal-External (IE) Matrix: a 9 quadrant, strategic planning analytical tool that places an org’s variousdivisions as circles in a display (similar to the BCG Matrix) based on two key dimensions: 1. Thesegment’s IFE total weighted scores on the x-axis and 2 the segment’s EFE total weighted scores on the y-axis. The diagram is divided into 3 major regions that have different strategy implications: 1. Grow andbuild or 2 hold and maintain, or 3 harvest or divest.Matching: when an org. matches its internal strengths and weaknesses with its external opportunitiesand threats using, for example, the SWOT, SPACE, BCG, IE, or GRAND Matrices.Matching stage: stage 2 of the strategy-formulation framework that focuses on generating feasiblealternative strategies by aligning internal with eternal factors by utilizing 5 matrices: BCG, IE, SWOT,GRAND, SPACE. The Decision Stage: The Quantitative Strategic Planning Matrix (QSPM)Other than ranking strategies to achieve the prioritized list, there is only one analytical technique in the literature designed to determine the relative attractiveness of feasible alternative actions. The Quantitative Strategic Planning Matrix (QSPM), which comprises Stage 3 of the strategy-formulation analytical framework, objectively indicates which alternative strategies are best.6 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 CPM that comprise Stage 1, coupled with the SWOT Matrix, SPACE Matrix, BCG Matrix, IE Matrix, and Grand Strategy Matrix ... The Strategy-Formulation Analytical FrameworkImportant 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. Figure 6-2The Strategy-Formulation Analytical Framework 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 ... Recommended textbook solutions
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Information Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions Service Management: Operations, Strategy, and Information Technology7th EditionJames Fitzsimmons, Mona Fitzsimmons 103 solutions What are the three stages of 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).
What are the 3 strategy formulation?It is useful to consider strategy formulation as part of a strategic management process that comprises three phases: diagnosis, formulation, and implementation.
What is the third phase of strategic framework?Stage 3: Implementing your strategy
The third stage of this framework focuses on the implementation of strategy, which is considered to have two sub-stages.
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.
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Which technique is included in Stage 3 of the strategy formulation analytical framework?
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