Site icon T4Tutorials.com

Which of the following is the first step in developing a QSPM?

Question:   Which of the following is the first step in developing a QSPM?

A    Compute the Total Attractiveness Scores

B   Assign weights to each key external and internal factor

D   Determine the Attractiveness Scores

E  Make a list of the firm’s key external opportunities and threats and internal strengths and weaknesses in the left column of the QSPM.

Answer:  Make a list of the firm’s key external opportunities and threats and internal strengths and weaknesses in the left column of the QSPM.

 

Developing a QSPM Description
Step 1 ·        Make a list of the firm’s key external opportunities and threats (EFAS) and internal strengths and weaknesses (IFAS) in the left column of the QSPM.
Step 2 ·        Assign weights to each key factor (EFAS/IFAS) to indicate their relative importance.

·        Typically, weights range from 1 for least important to 4 for most important.

Step 3 ·        List potential alternative strategies that the organization should consider for achieving its objectives and addressing the identified factors.
Step 4 ·        Evaluate the attractiveness

·        Scores for each alternative strategy based on how well they address the key factors (EFAS/IFAS).

Step 5 ·        Compute total attractiveness scores by multiplying the attractiveness scores by the corresponding factor weights.
Step 6 ·        Assign Feasibility Scores to assess the feasibility of implementing each alternative strategy.

·        Use a scale from 1 for least feasible to 4 for most feasible.

Step 7 ·        Calculate total feasibility scores by summing the feasibility scores for each alternative strategy.
Step 8 ·        Construct the QSPM Matrix with alternative strategies in rows.

·        Total attractiveness Scores in one column and total feasibility scores in another column.

Step 9 ·        Analyze and prioritize the alternative strategies based on their combined total attractiveness and total feasibility Scores.
Exit mobile version