The Matching Stage and Decision Stage

Stage 2: Matching Stage

The matching stage covers the analysis of the SWOT using the following
matrices. SWOT matrix, SPACE matrix, BGC matrix, IE Matrix and the
Balance Scorecard.

1. SWOT Matrix - a matching tool that helps managers develops 4 types of

strategies.

2. Internal - External Factor Evaluation Matrix - a strategic

management tool used to analyze working conditions and strategic position of
a business. The matrix is based on an analysis of internal and external
business factors which are combined into one suggestive model.

3. SPACE Matrix (Strategic Position and ACtion Evaluation) - a

management tool used to analyze a firm to determine what type of strategy a
company should undertake.

4. BGC Matrix (Boston Consulting Group) - is a business tool, which uses

relative market share and industry growth rate factors to evaluate the
potential of business brand portfolio and suggest further investment strategies.

5. Grand Strategy Matrix - is a tool used by businesses to devise alternative

strategies.

6. Balance Scorecard - derived its name from the perceived needs of a firms
to “balance” financial measures that are often times used exclusively in
strategy evaluation and control with non-financial measures such as product
quality and customer service.

Stage III: Decision Stage

The decision stage covers the strategy implementation and evaluation and
control. The Quantitative Strategic Planning Matrix (QSPM) will present the
final analysis of the strategy to be implemented. The information from the
input stage is necessary to complete the last two stages.

Quantitative Strategic Planning Matrix (QSPM) - is a high level

strategic management approach for evaluating possible strategies. It provides
an analytical method for comparing feasible alternative actions. The QSPM
method falls within so-called stage 3 of the strategy formulation analytical
framework.