Prepare and explain an SFAS matrix and a TOWS matrix for your selected company. Data presented in tables do not speak for themselves. Whenever you present the results of data analysis, you must interpret the data. What does it indicate? What does it mean? What are the implications? Please review Guidelines for the Strategic Audit Report/Preparing the tables: EFAS, IFAS, SFAS, and TOWS
Week 4 homework guidance.
Class, for this week's individual assignment ensure you create your table (or if you don't want to format in a table, just ensure you have all the information on your Word Document that should go in the table.) If you want to insert a table into your Word document, click on insert tab then click on table and select how many rows and columns. Ensure you answer the questions below and include in-text citations, reference page with properly formatted references, and ensure everything is in 3rd person and no opinions.
SFAS Questions that need to be addressed:
A. Situational Analysis (include the SFAS matrix in the body of your report, not in an appendix)
1. Of the external (EFAS) and internal (IFAS) factors listed, which are the strategic (most important) factors that strongly affect the company's present and future performance?
2. Will this be an attractive industry in the future? What is happening in the external macro- environment and competitive environment to change the competitive dynamics of the industry?
3. Does the company's current strategy fit with the external environment? Are the company's activities and attributes appropriate for this environment?
Review of Mission Statement
1. Are the current vision and mission appropriate in light of the key strategic factors and problems?
2. What is the likely future of this company if it continues on its current path?
3. Should the mission statement be changed? If so, how?
4. If the mission statement is changed, what will be the most probable effects on the company?
TOWS Questions that need to be addressed:
A. Strategic Alternatives (include the TOWS matrix in the body of your report, not in an appendix)
1. Does the current strategy need to be changed or revised. Why? What evidence supports changing?
2. What are the major feasible alternative strategies available to the company? What are the pros and cons of each? Can scenarios be developed and agreed upon? (Alternatives must be compatible with societal environment, industry, and company for the next three to five years.)
Consider stability, growth, and retrenchment as corporate strategies.
Consider cost leadership and differentiation as business strategies.
Consider any functional strategic alternatives that might be needed for reinforcement of an important corporate or business strategic alternative.
3. Assess those alternatives that will be most likely to move the company forward, and will help them attain a sustainable competitive advantage. Discuss each in detail, and use evidence to support why each will be effective.