Checkpoint Session 7

In the strategy formulation framework, the matching stage focuses on:

• generating the advantages & disadvantages of stage 1

• generating the relationships between internal and external factors

• generating feasible alternative strategies

• generating maximum revenues and profits

IE matrix and BCG matrix are known as:

• Portfolio analysis

• External analysis

• Divisional analysis

• Business analysis

A vision statement answers the question:

• What is our business?

• How do we do our business?

• How do we achieve our vision?

• What do we want to become?

TWO benefits to a firm that does strategic planning:

An External Factor Evaluation (EFE) Matrix allows firms to respond either ___ or ___ to external factors.