QSPMQuantitative Strategic Planning Matrix
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Building the QSPM will help determine the 'relative attractiveness of various strategies based on internal and external factors' (David, 1986).
For a development of the present QSPM, companies or public entities looking to apply the QSPM approach for determining the outsourcing strategies can also consult 'Using QSPM and WASPAS methods for determining outsourcing strategies' (Lashgari et al., 2014).
and David, F., 'The Quantitative Strategic Planning Matrix (QSPM) Applied to a Retail Computer Store', 2009, The Coastal Business Journal, vol.
and Kheirkhah, O., 'Using QSPM and WASPAS Methods for Determining Outsourcing Strategies', 2014, Journal of Business Economics and Management, vol.
4) Determining alternative strategies that have resulted from SWOT analysis with QSPM analysis.
The next stage of the input stage of internal and external environment analysis through EFEM and IFEM matrix and the matching stage with IE and SWOT matrix is decision stage by using QSPM. This technique objectively indicates which alternative strategy is the best.
QSPM determines the relative attractiveness of different strategies based on how far the internal and external strategic factors are utilized or improved.
The basic format of the QSPM is illustrated in Table 4.
The top row of a QSPM consists of alternative strategies derived from the SWOT Matrix.
Step 1: Make a list of the firm's key external opportunities and threats and internal strengths and weaknesses in the left column of the QSPM. This information should be taken directly from the SWOT Matrix analysis.
To objectively evaluate feasible alternative strategies identified in SWOT analysis, the QSPM uses input information derived from former stage.
After surveying the internal and external factors matrix and also analyzing the SWOT matrix, it was specified that QSPM matrix will lead to more accurate analysis than SWOT.