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Under the heading Strategic Analysis, describe and justify the use of three (or more) strategic tools that you will apply to help solve or improve the problem you have selected and why you feel those tools are appropriate.
At least one of the three tools must contain a financial data component. Mention at least two tools that you considered but will not use and why.
Strategic Analysis Tools
The following (in no particular order) are some strategic tools that are used in strategic analysis. There are many other tools used for specific analyses – such as strategic marketing analysis or strategic human resources analysis. Doing web searches by the problem area of your organizational may also reveal other tools you can apply.
PEST or PESTLE Analysis – external (political, economic, sociological, technological,
legal, environment)
Michael Porter’s Value Chain Analysis – to strengthen competitive advantage
SWOT Analysis – Internal – Strengths & weaknesses; External – Opportunities & threats
Michael Porter’s Five Forces – industry level analysis of competition and profitability
Miles and Snow Typology – 4 types of business level strategies
Resource Based View Analysis – internal resources
Critical Success Factors (CSFs) & Key Results Areas (KRAs) – identify essential factors
or results areas (D.R. Daniel & J.F. Rockart)
Michael Porter’s Diamond of National Advantage (global competition)
DESTEP Analysis – demographic, economic, social, technological, ecological and
political analysis.
IFE & EFE Matrixes – weigh & rate key internal/ external factors
John Kay’s Distinctive Capabilities Framework – relationship development
Benchmarking – identify best practices in a specific industry
Osterwald & Pigneur – Business Model Canvas – design, define and defend business
model
Competitive Profile Matrix – strengths & weaknesses of competitors
Boston Consulting Group (BCG) Analysis – assess an organization’s products/services
VRIO Analysis – internal resources
McKinsey 7s Framework – align an organization for maximum performance
Lafley & Martin’s 5 Step Strategy Model