Question

Explain clearly, concisely in your OWN WORDS and sequentially the three (3) stages of the Comprehensive Strategy-Formulation Framework (by Fred R. David) and the corresponding tools in each stage

Answer 1

Here are the three (3) stages of the Comprehensive Strategy-Formulation Framework:

Stage one of the strategy formulation framework comprises of the External Factor Evaluation (EFE) Matrix, the Internal Factor Evaluation (IFE) Matrix, and the Competitive Profile Matrix. This purported information stage outlines the essential info data expected to detail techniques.

Stage two, called the matching stage, centers after creating plausible systems joining key vital factors. This stage incorporates the accompanying instruments: SWOT Matrix, portfolio examination that comprises of the Boston Consulting Group (BCG) Matrix, and filled in as the beginning stage in the improvement of the GE Concept, just as the ADL Matrix. Further explanatory instruments can be proposed, for example, Strategic Position and Action Evaluation (SPACE) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy network. These instruments depend upon data got from the information stage to coordinate outer chances and dangers with interior qualities and shortcomings.

Stage three, called the decision stage, includes a solitary system, the Quantitative Strategic Planning Matrix (QSPM). A QSPM utilizes input data from stage one to unbiasedly assess practical procedures distinguished in stage two. A QSPM uncovers the general appeal of proposed procedures and in this way gives a target premise to choosing a definitive strategy.