BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -It is vital that strategists always consider all feasible alternatives that could benefit the firm. The first stage of the strategy-formulation framework is the input stage, and it is directly followed by the decision stage.

Detailed explanation-2: -There are many benefits of strategic management and they include identification, prioritization, and exploration of opportunities.

Detailed explanation-3: -A strategist is a person with responsibility for the formulation and implementation of a strategy. Strategy generally involves setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources).

Detailed explanation-4: -Quantitative Strategic Planning Matrix (QSPM) The QSPM is an analytical technique designed to determine the relative attractiveness of feasible alternative strategies.

Detailed explanation-5: -Stage 2, called the Matching Stage, focuses upon generating feasible alternative strategies by aligning key external and internal factors. These tools rely up on information derived from the input stage to match external opportunities and threats with internal strengths and weaknesses.