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Essay text:
This chapter introduces important concepts that can help strategists generate feasible alternatives, evaluate those alternatives, and choose a specific course of action. Behavioral aspects of strategy formulation are described, including politics, culture, ethics, and social responsibility considerations. Modern tools for formulating strategies are described, and the appropriate role of a board of directors is discussed.
Objectives
After studying this chapter, you should be able to do the following:
1. Describe a three-stage framework for choosing among alternative strategies.
2. Explain how to develop a TOWS Matrix, SPACE Matrix, BCG Matrix, IE Matrix, and QSPM...
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