Assignment Part 6: Evaluation of the Strategies
The Quantitative Strategic Plan Matrix (QSPM) is a high-level strategic management approach for evaluating possible strategies. This Matrix provides an analytical method for comparing feasible alternative actions. Further, it helps the organization prioritize the strategies that they would like to pursue. You are required to write a one-page narrative with scholarly sources regarding your thoughts and definition of conducting a quantitative strategic plan matrix.
List the organizationâ€™s internal and external key factors, which are from your IFE and EFE matrices. The two strategies described in Part 5 should be evaluated based on the IFE and EFE matrices, as this requires subjective decisions by the student.
Use the two strategies from Part 5 to analyze and determine the attractiveness score (AS). This defines how the factors influence the strategy and can give vital information for any organization when making high-level decisions between strategies. You will assign the weight for each of these key factors, which are identical from the IFE and EFE matrices. The internal factors must equal 1.00 and the external factors must equal 1.00. The range is determined on a Likert scale of 0 to 4: 0=not relevant, 1= least attractive, 2=possibly attractive, 3=reasonably attractive, 4=highly attractive. Then multiply the weight times the attractiveness score (AS) to obtain the total attractiveness score (TAS). Based on the two strategies, the score that is higher would be more attractive as a strategic alternative or critical factor for the organizational leaders to choose that strategy over the other. This also involves reflection and evaluation.
Once you have determined your selected strategy, based on total attractiveness scores, write a narrative about why you feel this selection (with high TAS) would be beneficial to your organization as well as other stakeholders, community, etc. However, explain why the second alternative (with low TAS) could also be beneficial. Not all business models, surveys, spreadsheets, are 100% valid or reliable. Based on your expert opinion, describe which strategy is more important.
In addition to submitting your paper, please upload your QSPM Excel spreadsheet.
Notes from the Student
Project Title: An Investigation into the Negative Perceptions and Experiences of Minority Fathers in Child Support Enforcement in Florida
Selected Solution to implement: Addressing systemic biases and stereotypes faced by Minority Fathers in Child Support Enforcement in Florida
Strategies to Accomplish the Selected Solution
Strategy One: Education and awareness campaigns
Strategy Two: Policy and Legal Reforms
A) Writer starts exactly on Part 6 of the SPR Template
B) The Sources provided (3 per paragraph) must be fully accessible.