Chapter 6 Strategy Analysis & Choice
Strategic Management: Concepts & Cases 11th Edition Fred David
Copyright 2007 Prentice Hall
Ch 6 -1
Strategy Analysis & ChoiceNature of Strategy Analysis & Choice -- Establishing long-term objectives -- Generating alternative strategies -- Selecting strategies to pursue -- Best alternative - achieve mission & objectives
Copyright 2007 Prentice Hall
Ch 6 -2
Strategy Analysis & Choice Generating Alternatives -Participation in generating alternative strategies should be as broad as possible
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Ch 6 -3
Comprehensive Strategy-Formulation FrameworkStage 1: The Input Stage
Stage 2: The Matching Stage
Stage 3: The Decision Stage
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Ch 6 -4
Strategy-Formulation Analytical FrameworkInternal Factor Evaluation Matrix (IFE)
Stage 1: The Input Stage
External Factor Evaluation Matrix (EFE)
Competitive Profile Matrix (CPM)
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Ch 6 -5
Stage 1: The Input Stage
Basic input information for the matching & decision stage matrices Requires strategists to quantify subjectivity early in the process Good intuitive judgment always needed
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Ch 6 -6
Strategy-Formulation Analytical Framework
SWOT Matrix
SPACE Matrix
Stage 2: The Matching Stage
BCG Matrix
IE Matrix
Grand Strategy Matrix
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Ch 6 -7
Stage 2: The Matching Stage
Match between organization’s internal resources & skills and the opportunities & risks created by its external factors
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Ch 6 -8
Stage 2: The Matching Stage SWOT MatrixStrengths Weaknesses Opportunities Threats
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Ch 6 -9
SWOT Matrix Four Types of StrategiesStrengths-Opportunities (SO) Weaknesses-Opportunities (WO) Strengths-Threats (ST) Weaknesses-Threats (WT)
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Ch 6 -10
SO Strategies
Strengths Weaknesses Opportunities Threats SWOT
SO Strategies
Use a firm’s internal strengths to take advantage of external opportunities
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Ch 6 -11
WO Strategies
Strengths Weaknesses Opportunities Threats SWOT
WO Strategies
Improving internal weaknesses by taking advantage of external opportunities
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Ch 6 -12
ST Strategies
Strengths Weaknesses Opportunities Threats SWOT
ST Strategies
Use a firm’s strengths to avoid or reduce the impact of external threats
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Ch 6 -13
WT StrategiesDefensive tactics aimed at reducing internal weaknesses & avoiding environmental threats
Strengths Weaknesses Opportunities Threats SWOT
WT Strategies
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Ch 6 -14
SWOT Matrix Developing the SWOTList firm’s key internal List firm’s key internal List firm’s key external List firm’s key external Strengths Weaknesses Opportunities Threats
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Ch 6 -15
SWOT MatrixStrengths – S Leave Blank Opportunities – OList Opportuniti
es List Strengths
Weaknesses – WList Weaknesses
SO StrategiesUse strengths to take advantage of opportunities
WO StrategiesOvercoming weaknesses by taking advantage of opportunities
Threats – TList Threats
ST StrategiesUse strengths to avoid threats
WT StrategiesMinimize weaknesses and avoid threats
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Ch 6 -16
Limitations with SWOT MatrixDoes not show how to achieve a competitive advantage Provides a static assessment in time May lead the firm to overemphasize a single internal or external factor in formulating strategies
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Ch 6 -17
Strategy-Formulation Analytical Framework
SWOT Matrix
SPACE Matrix
Stage 2: The Matching Stage
BCG Matrix
IE Matrix
Grand Strategy Matrix
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Ch 6 -18
SPACE MatrixStrategic Position & Action Evaluation Matrix
Aggressive Conservative Defensive Competitive
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Ch 6 -19
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