Peer Responses: Discussion 1
respectfully respond to the students post about which analytical models are the most useful, interesting, important, or relevant to strategic planning (besides the QSPM). Use 200 words when responding to these students. Start off with “Hello (Name)”
Elizabeth
I
believe that the SWOT Matrix (Strengths, Weaknesses, Opportunities and
Threats) is one of the most useful, and interesting matrixes. The SWOT
Analysis is a simple but useful framework for analyzing your
organization’s strengths, weaknesses, opportunities, and threats. It
helps the company to build on what they do well, to address what they
may be lacking, to minimize risks, and to take the greatest possible
advantage of chances for success. It can be used to kick off a
well-informed strategy tool. It can also be used to get an understanding
of the company’s competitors, which can give them the insights they
need to craft a coherent and successful competitive position.
The
Strengths and Weaknesses focus on the internal factors which include
the current processes, human resources, the physical and the financial
resources. The Opportunities and Threats focus on the external factors
which include market trends, economic trends, pollical and economic
regulations.
The SWOT gives visibility to the company on their current statuses
helping them to understand and measure their overall business
performance. It helps them better enter the market to meet their
business targets. Along with getting the look into the weaknesses and
any potential areas of improvement helping them to plan for and mitigate
any future roadblocks helping the long-term growth of the business.
This all helps the company or organization to understand and identify
their internal and external factors which includes any positive or
negative impacts there are on the business.
Laura
There are several great analytical models covered in Chapter 6 of
your text, including the SWOT matrix, SPACE matrix, BCG matrix, IE
matrix, and grand strategy matrix. I find the SPACE (Strategic Position
and Action Evaluation) matrix to be the most relevant analytical model
of strategic planning covered in Chapter 6, and I also found it to be in
the most simple format which made it easy to follow. It seems straight
forward and to the point, but it also provides a very in-depth level of
detail which will significantly help with analytics.
According to our text, the SPACE matrix helps to decipher whether
an organization should use aggressive, conservative, defensive, or
competitive strategies. They also analyze two internal dimensions and
two external dimensions. The two internal dimensions are categorized
into financial position (FP) and competitive position (CP). The two
external dimensions are labeled as stability position (SP) and industry
position (IP). The SPACE matrix analysis is completed by rating the
organization on each of the dimensions: financial position (FP),
competitive position (CP), stability position (SP), and industry
position (IP). In addition, there are six steps to complete the SPACE
matrix analysis (David, David, David, Pg. 169, 2020).
Overall, I believe the SPACE matrix analytical model to be the
most effective and detailed model compared to the others listed in
Chapter 6 of our text, although they all seem like they are great
analytical models.
Peer Responses: Discussion 2
respectfully respond to the students post about what is more important in forming strategy: qualitative information and intuition, or quantitative data?. Use 200 words when responding to these students.
Start off with “Hello (Name)”.
Elizabeth
This
may vary based on the context or the type of the strategy that is in
question. For example, if you are dealing with corporate strategy, it
deals with the overall purpose of the organization or the vision/
mission where the organization wants to see itself in the future. In
such a context, qualitative information and intuition will be more
important.
In
the case of business strategy, you are concerned with the competition
and how to frame your business unit’s strategy to counter the effect of
competition. In such a case, one will determine such factors as the
sources of risks considering the operating leverage, financial leverage
etc. This will require quantitative data. The business strategy also
includes cooperative strategies such as strategic alliance and joint
ventures. This will require quantitative data analysis related to
financials of different stakeholders. On the other hand, qualitative
intuition will be required for other parts of the business strategy such
as parts of generic strategy as defined by Porter or Miles and Snow.
For
functional strategy, one with deal with the target vs. achievement
analysis and framing out operational strategies in the next operation
period based on the gap of target and achievements. Here also, both the
effect of qualitative and quantitative analysis will be required with a
predominant focus on quantitative data.
*The second student didn’t post their work. when they do I will send it to you so you can finish responding.
Case Study Quantitative Strategic Planning Matrix (QSPM)
Construct
a QSPM for the case study you have chosen to do your final project on.
You should model your assignment based on Table 6.5 in your text and
follow the detailed steps outlined. Include a 250-word (or more) summary of what
you discovered while doing this analysis. Peer Review a minimum of two projects. An Example of the assignment is attached below
Extra Comments from the professor on what he wants done:
This is your chance to do a side-by-side comparison of the two “best”
strategic options that you think management should consider. As you
evaluate them on a number of factors which you determine, only score
those events that would equally be affected by BOTH
choices. If only one is affected, or neither would make a difference,
simply insert a dash in the column to show that you considered it.
Peer response of projects: Elizabeth’s project is attached below and the other student didn’t post their project yet. when they do I will give it to you to respond to. Use 150-200 words when responding to the projects. Start by saying “hello(name)”
*The QSPM Project IS DUE TODAY
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