The most common models or tools used in strategy formulation

THE MOST COMMON MODELS OR TOOLS USED IN STRATEGY FORMULATION

1. SWOT Analysis: This is one of the most common tools used in strategy formulation. It is used to identify the strengths and weaknesses of an organization, as well as the opportunities and threats it faces.

2. PESTLE Analysis: This tool is also used to analyze the external environment of an organization and identify potential opportunities and threats.

3. Strategic Position and Action Evaluation (SPACE) Matrix: This tool helps organizations to identify the best strategies to pursue by analyzing their position in the market.

4. McKinsey 7-S Framework: This model helps organizations to analyze the internal environment of an organization and identify areas of improvement.

5. Porter’s Five Forces Framework: This tool helps to identify the competitive forces in an industry and identify strategies for gaining a competitive advantage.

6. Ansoff Matrix: This model is used to identify strategies for product and market development.

7. BCG Matrix: This tool is used to analyze an organization’s portfolio of products and services and identify the most profitable options.

TimHJRogers
Adapt Consulting Company
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