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What is the purpose, advantages, and disadvantages of each of the following matrices: SWOT- Strength, Weaknesses, Opportunities, &...

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General Management

What is the purpose,advantages, and disadvantages of each of the followingmatrices:

SWOT- Strength, Weaknesses, Opportunities, & Threats

SPACE- Strategic Position and Action Evaluation

BCG- Boston Consulting Group

IE- Internal/External

GS- Grand Strategy

QSP- Quantitative Strategic Planning

Which do you thinkis/are the strongest of these? Why?

Cite your sources inAPA

Answer & Explanation Solved by verified expert
3.9 Ratings (787 Votes)
What is the purpose advantages and disadvantages of each of the following matrices SWOT Strength Weaknesses Opportunities Threats It is the tool used for audit and analysis of the overall strategic position of the business in market The key purpose is to identify the strategies which creates the company specific business model that will align the organization resources capabilities in a better manner to the needs of environment in which the company operates Advantage versatility Used to structure strategic planning brainstorming sessions which facilitates the business alternatives it is helpful in assessing vendors technologies and product markets Builds organizations strengths Reverse its weakness factor identification allows the firm to become familiar with the their internal and external situations or factors which are favorable and unfavorable to their goals Wide application Used across a variety of organizational requirements It makes analysis as a staple element in different business planning in order to include but not limited to feasibility studies product development analysis of possible sources of competitive advantage strategic planning opportunity analysis and marketing strategy Simplicity does not need technical skills or special training for using this tool Simplicity makes SWOT as inexpensive Disadvantages No weighting factors The analysis leads to four individual lists of strengths weaknesses opportunities and threats The tool does not provides the mechanism to rank the significance of one factor versus another So it is difficult to    See Answer
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