Organizations spend a lot of time and effort on strategy formulation.
Often, there are several different approaches or strategies that the organization could follow. But how do you decide which option is best? Do you rely on intuition, or take a more objective approach?
Not surprisingly, you need to base your decision on facts, not gut feelings. But how do you do this, particularly when the effects of different strategies can be so different?
The Quantitative Strategic Planning Matrix (QSPM) helps you address this question. It gives you a systematic approach for evaluating alternate strategies, and helps you decide which strategy is best suited to your organization. The tool was developed by Fred R. David, and was first published in the Long Range Planning Journal in 1986.
QSPM is based on three primary inputs:
This ensures that you don’t lose your plan.
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