Formulation and Selection of Strategies Using Quantitative Strategic Planning Matrix: An Empirical Study
Formulation and Selection of Strategies Using Quantitative Strategic Planning Matrix: An Empirical Study
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Date
2020
Authors
Adu-Gyamfi, Mavis
Alhassan, Ibrahim
Asafo, Samuel Mawusi
Journal Title
Journal ISSN
Volume Title
Publisher
IOSR Journal of Business and Management (IOSR-JBM)
Abstract
Background: A Strategic Audit (SA) is a diagnostic tool for strategic planning. It is an aid to a critical
organisation and institutional decision-making. SA was performed on Asankranman Microfinance Limited
(AML) with the main aim of assessingitscurrentstrategies and revisingthem in relation to the demands of the
marketplace. AML is one of the highly-reputable microfinance companies in the Amenfi West District in the
Western Region of Ghana. The principal targetclientele of AML ismainlywomen in small and micro enterprises
as well as commercial drivers. The companycommands a customer base of about 8,276.
Materials and Methods: The paper employed a Strength, Weakness, Opportunity and Threat (SWOT) analysis
to find areas of alignment and misalignment based on the internal and external factors influencing success.
Quantitative Strategic Planning Matrix (QSPM) was then used to evaluate, formulate and to prioritized
strategies thereby enabling AML to adopt the best-fit strategy for its operations in the microfinance industry in
the Western Region of Ghana.
Results: The results indicated that AML stands a better chance of surviving competition in the industry despite
its financial challenges; if it expands to other neighbouring districts.
Conclusion:AML should focus most of its marketing budget on expanding to other neighbouring districts
sincethe ‘expansion’ was identified by the Consulting team as the best strategy and most important
implementable strategy among the other strategic alternatives
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Citation
Alhassan, I., Adu-Gyamfi, M., & Asafo, S. M. (2020). Formulation and Selection of Strategies Using Quantitative Strategic Planning Matrix: An Empirical Study.