chapter 6 descriptive - Chapter 6 Strategy Analysis and...

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Chapter 6: Strategy Analysis and Choice 21. Describe the eight steps involved in constructing a SWOT Matrix. What strategies are derived from the development of a SWOT  Matrix? How are they used?  Your Answer: a   There are eight steps involved in constructing a SWOT Matrix. They are identified on pages 192-194 under the section on the SWOT  Matrix. SO Strategies use a firm's internal strengths to take advantage of external opportunities. WO Strategies aim at improving  internal weaknesses by taking advantage of external opportunities. ST Strategies use a firm's strengths to avoid or reduce the  impact of external threats. WT Strategies are defensive tactics directed at reducing internal weakness and avoiding external threats. 22. What is the BCG Matrix? What is its purpose and how does it help strategic managers?  Your Answer: a   The BCG Matrix is named for the Boston Consulting Group which developed it. It is designed specifically to enhance a 
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