Quantitative Strategic Planning Matrix as a Superior Strategic Management Tools and Techniques in Evaluating Decision Alternatives

A Multi-Stage Exhibition for Creationizing Strategic Leadership

  • Elvis Elezaj University “Haxhi Zeka”, Faculty of Business, Peja, Kosovo
  • Bekë Kuqi University “Haxhi Zeka”, Faculty of Management in Tourism, Hospitality and Environment, Peja, Kosovo
Keywords: QSPM Model, Evaluation, Decision-Making, Multi-Stage and Strategic Leadership

Abstract

Evaluation of alternatives to making decisions still remains as the most difficult field for every manager. Considering that uncertainty, stress, emotions and many other factors still remain insurmountable during decision-making in the work of managers. The research will bring a contemporary approach to the evaluation of alternatives through the multi-stage method by conducting a series of exhibitions for an effective decision. Model will create a logical structure derivation of exhibitions by revealing options and paths toward strategic leadership. The research used mixed methods of data collection to create a more meaningful and integrative research design. The sample was elongated over a survey of 250 organizations. The research brings to the surface a clear analysis of the following path as a guide and practically used to gain differentiating advantages towards the long-term through Strategic Attractiveness Position in Industry (ST-API). From this analysis structure, a clearness leadership orientation is created for managers, a recommendation for strategic leadership, revealing a group of strategies to undertake depending on the ST-API dimension IFE (Internal Factor Evaluation) or ST-API dimension EFE (External Factor Evaluation) through crafting "Option's" since the organizations are concentrated in the vicinity of the corner (nook) in quad IV, conclusively in "growth and build". Occurrated in this axle, organizations are advised to orient their actions towards the "develop products" in order to go towards longevity and leaderism in the industry.

Author Biographies

Elvis Elezaj, University “Haxhi Zeka”, Faculty of Business, Peja, Kosovo

Elvis Elezaj PhD is a professor of Management field at the Faculty of Business, University "Haxhi Zeka" Peja. He has considerable experience in many public and private institutions, in particular as Chairman of Directors at microfinance institution. He also has experience as a trainer and business consultant. His areas of interest are Strategic Management, Principles of Management, Decision Making Sciences, Organization Theory, Organizational Behavior and Leadership.

http://orcid.org/0000-0002-2631-7837

Bekë Kuqi, University “Haxhi Zeka”, Faculty of Management in Tourism, Hospitality and Environment, Peja, Kosovo

Bekë Kuqi PhD is a professor of Tourism Management. He obtained his Doctoral degree in Tourism from St. Clement of Ohrid University of Bitola (North Macedonia).  He received a Master’s degree in Banking, Finance and Accounting from the University of Prishtina. He received a Bachelor’s degree from the University of Prishtina, Faculty of Economics.  Dr.  Bekë Kuqi works as a Professor at the University “Haxhi Zeka”, Kosovo.  In August 2018, he was hired as an expert at the National Qualifications Authority. 

http://orcid.org/0000-0002-7584-1686

References

Adiwijaya, I. R., Indratno, S. W., Siallagan, M., Widodo, A., and Gandara, E. Integration of the hybrid decision support system and machine learning algorithm to determine government assistance recipients: A case study in the indonesian funding program. MENDEL 29, 1 (2023), 15–24.

Bass, B. M. Organizational decision making. Irwin. Homewood, 1983.

Breene, R. T. S., Nunes, P. F., and Shill, W. E. The chief strategy officer. Harvard business review 85, 10 (2007), 84.

Brews, P., and Purohit, D. Strategic planning in unstable environments. Long range planning 40, 1 (2007), 64–83.

Cassidy, C. M., Glissmeyer, M. D., Capps III, C. J., et al. Mapping an internalexternal (ie) matrix using traditional and extended matrix concepts. Journal of Applied Business Research (JABR) 29, 5 (2013), 1523–1528.

Chakravarthy, B. S. Adaptation: A promising metaphor for strategic management. Academy of management review 7, 1 (1982), 35–44.

Clark, D. N. Strategic management tool usage: a comparative study. Strategic Change 6, 7 (1997), 417–427.

Davenport, T. H. Make better decisions. Harvard business review 87, 11 (2009), 117–123.

David, F. Computer-assisted strategic-planning in small businesses. Journal of Systems Management 36, 7 (1985), 24–34.

David, M. E., David, F. R., and David, F. R. The quantitative strategic planning matrix (qspm) applied to a retail computer store. The Coastal Business Journal 8, 1 (2009), 4.

David, M. E., David, F. R., and David, F. R. The quantitative strategic planning matrix: a new marketing tool. Journal of strategic Marketing 25, 4 (2017), 342–352.

De Geus, A. The living company. Harvard Business Press, 2002.

De Geus, A. P. Planning as learning. Harvard Business Review March/April, 1988.

Dixit, A. K., and Nalebuff, B. J. Thinking strategically: The competitive edge in business, politics, and everyday life. WW Norton & Company, 1993.

Duncan, W. J. Great ideas in management: Lessons from the founders and foundations of managerial practice. Josey-Bass Publisher, 1989.

Dutton, J. M., and Freedman, R. D. External environment and internal strategies: calculating, experimenting, and imitating in organizations. Advances in strategic management 3, 5 (1985), 39–67.

Elenkov, D. S. Strategic uncertainty and environmental scanning: The case for institutional influences on scanning behavior. Strategic management journal 18, 4 (1997), 287–302.

Elezaj, E., and Elezaj, N. The importance of ge tool in choosing and assessing business strategy. Knowledge - International Journal 26, 6 (2018), 1591–1596.

Elezaj, E., and Kuqi, B. Rational decision making based on analyzing organizational surround factors: A view of crafting differentiality and effectiveness in kosovo enterprises. Knowledge - International Journal 49, 1 (2021), 41–45.

Elezaj, E., and Kuqi, B. Systematic analyzeweight- evaluate (awe) approach into decision making: A derivation via externative organizational factors. International Journal of Sustainable Development & Planning 18, 3 (2023).

Elezaj, E., Sejdija, Q., and Kuqi, B. Applying the space model for strategic decision-making in smes: An empirical analysis from kosovo. International Journal of Sustainable Development and Planning 18, 8 (2023), 2531–2539.

Field, A., et al. Discovering statistics using SPSS: And sex and drugs and rock “n” roll. London: Sage, 2005.

Fornell, C. A national customer satisfaction barometer: The swedish experience. Journal of marketing 56, 1 (1992), 6–21.

Knott, P. A typology of strategy tool applications. Management Decision 44, 8 (2006), 1090–1105.

Kotler, P., Berger, R., and Bickhoff, N. The quintessence of strategic management.Springer.

Krasniqi, I., and Elezaj, E. Revitalizing kosovo’s manufacturing organizations: Long-term strategic planning with qspm. International Journal of Sustainable Development & Planning 18, 6 (2023).

McGinnis, M. A. The key to strategic planning: Integrating analysis and intuition. Sloan Management Review (pre-1986) 26, 1 (1984), 45.

Merigo, J. M., and Gil-Lafuente, A. M. New decision-making techniques and their application in the selection of financial products. Information Sciences 180, 11 (2010), 2085–2094.

Milliken, F. J. Three types of perceived uncertainty about the environment: State, effect, and response uncertainty. Academy of Management review 12, 1 (1987), 133–143.

Mintzberg, H. Crafting strategy. In The Aesthetic Turn in Management. Routledge, 2017, pp. 477–486.

Mintzberg, H., Raisinghani, D., and Theoret, A. The structure of” unstructured” decision processes. Administrative science quarterly (1976), 246–275.

Mintzberg, H., and Waters, J. A. Of strategies, deliberate and emergent. Strategic management journal 6, 3 (1985), 257–272.

Prescott, J. E., and Grant, J. H. A manager’s guide for evaluating competitive analysis techniques. Interfaces 18, 3 (1988), 10–22.

Radder, L., and Louw, L. The space matrix: A tool for calibrating competition. Long range planning 31, 4 (1998), 549–559.

Seo, M.-G., and Barrett, L. F. Being emotional during decision making—good or bad? an empirical investigation. Academy of Management Journal 50, 4 (2007), 923–940.

Spector, P. E. Summated rating scale construction: An introduction, vol. 82. Sage, 1992.

Thompson, A. A., Strickland III, A., Gamble, J. E., and Peteraf, M. A. Crafting & Executing Strategy: Concepts and Cases. McGraw-Hill Education, 2020.

Urli, B., and Nadeau, R. Evolution of multicriteria analysis: a scientometric analysis. Journal of Multi-Criteria Decision Analysis 8, 1 (1999), 31–43.

von Clausewitz, C. On War, new and revised edition. Kegan Paul, Trench, Truber and Co, London, 1911.

Wack, P. Scenarios: uncharted waters ahead. Harvard business review 63, 5 (1985), 72–89.

Webster, J. L., Reif, W. E., and Bracker, J. S. The manager’s guide to strategic planningtools and techniques. Planning review 17, 6 (1989), 4–48.

Weihrich, H. The tows matrix—a tool for situational analysis. Long range planning 15, 2 (1982),54–66.

Published
2023-12-20
How to Cite
[1]
Elezaj, E. and Kuqi, B. 2023. Quantitative Strategic Planning Matrix as a Superior Strategic Management Tools and Techniques in Evaluating Decision Alternatives. MENDEL. 29, 2 (Dec. 2023), 90-96. DOI:https://doi.org/10.13164/mendel.2023.2.090.
Section
Research articles