Abstract
The integrative fusion of three powerful strategic tools yields obvious synergetic benefits for strategy planners. This holistic approach provides a pragmatic framework for developing a list of Key Success Factors (KSFs) and converting them into the respective internal strengths and weaknesses of an organisation. A systematic way is adopted to explore and evaluate the significance and likelihood of occurrence of various external factors to generate the list of external opportunities and threats. Matching the internal factors with the external factors, the SWOT analysis yields a list of action items as the basis for strategies. Slotting these action items (strategic performance measures) in the BSC framework portrays subjective yet democratic 'cause and effect' relationships among them through QFD. A Double House Of Quality (Double HOQ) is introduced to depict the relationships among the internal KSFs and the derived strategies. This holistic strategic formulation approach is called BSQ (short-form of Balanced Scorecard-SWOT-QFD).
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: World Review of Entrepreneurship, Management and Sustainable Development
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.