BAB 5 Strategy Formulation Framework

Oleh :
Dr. M Najib, STP, MM

Dr. Eko Rudi Cahyadi, S Hut, MM
Lindawati Kartika, SE, M.Si
M Syaefudin Andrianto, STP, M.Si
1
Strategy Analysis & Choice
Nature of Strategy Analysis & Choice
-- Establishing long-term objectives

-- Generating alternative strategies
-- Selecting strategies to pursue
-- Best alternative - achieve mission &
objectives
Ch 6 -2 Copyright 2007 Prentice Hall

Alternative Strategies Derive From --
 Vision
 Mission
 Objectives
 External audit
 Internal audit
 Past successful strategies
Copyright 2007 Prentice Hall Ch 6 -3

Generating Alternatives --
Participation in generating alternative

strategies should be as broad as
possible

Comprehensive Strategy-Formulation
Framework
Stage 1:
The Input Stage
Stage 2: Stage 3:
The Matching Stage The Decision Stage

The Input Stage
EFE IFE CPM
The Matching Stage

Grand Strategy
TOWS Matrix Space Matrix BCG Matrix IE Matrix
Matrix
The Decision Stage

Quantitative Strategy Planning Matrix (QSPM)
6
Strategy-Formulation Analytical
Framework
Internal Factor Evaluation
Matrix (IFE)
Stage 1: External Factor Evaluation

The Input Stage Matrix (EFE)
Competitive Profile Matrix

(CPM)

THE INPUT STAGE
 Digunakan untuk mengidentifikasi para pesaing
utama perusahaan mengenai kekuatan dan
kelemahan mereka dalam hubungannya dengan
posisi strategis perusahaan
 Bobot, rating dan skor memiliki maksud yang
sama. Rating dan skor untuk perusahaan-
perusahaan pesaing dapat dibandingkan dengan
perusahaan yang diteliti
 Critical success factor (CSF) pada CPM lebih luas
tapi akibatnya data kurang spesifik dan kurang
aktual
 CSF pada CPM tidak dikelompokkan ke dalam
kekuatan dan kelemahan
CSF Bobot Perusahaan Contoh Pesaing 1 Pesaing 2
Rating Skor Rating Skor Rating Skor
Market 0,20 3 0,6 2 0,4 2 0,4

share
Price 0,20 1 0,2 4 0,8 1 0,2
competitive
ness
Financial 0,40 2 0,8 1 0,4 4 1,6
position
Product 0,10 4 0,4 3 0,3 3 0,3
quality
Consumer 0,10 3 0,3 3 0,3 3 0,3
loyalty
Total 1,00 2,3 2,2 2,8
 Posisi keuangan perusahaan merupakan CSF
yang paling penting seperti ditunjukkan oleh
bobot sebesar 0,40
 Bagi “perusahaan contoh”, rating yang paling
tinggi untuk CSF-nya adalah product quality
dengan nilai 4. Pesaing 1 adalah price
competitiveness dan perusahaan 2
merupakan perusahaan terkuat secara
keseluruhan seperti ditunjukkan oleh total
skor sebesar 2,8
Framework
SWOT Matrix
SPACE Matrix
Stage 2: BCG Matrix

The Matching Stage
IE Matrix
Grand Strategy Matrix

SPACE Matrix
Strategic Position & Action Evaluation Matrix
Aggressive
Conservative
Defensive
Competitive

SPACE Matrix
Two Internal Dimensions
Financial Strength (FS)

Competitive Advantage (CA)

SPACE Matrix
Two External Dimensions
Environmental Stability (ES)

Industry Strength (IS)

Internal Strategic Position External Strategic Position
Financial Strength (FS) Environmental Stability (ES)
Technological changes
Return on investment
Rate of inflation
Leverage
Demand variability
Liquidity
Price range of competing products
Working capital
Barriers to entry
Cash flow
Competitive pressure
Price elasticity of demand
Ease of exit from market
Risk involved in business

Internal Strategic Position External Strategic Position
Competitive Advantage CA Industry Strength (IS)
Market share Growth potential

Product quality Profit potential
Product life cycle Financial stability
Customer loyalty Technological know-how
Competition’s capacity utilization Resource utilization
Technological know-how Ease of entry into market
Control over suppliers & distributors Productivity, capacity utilization

1. Select a set of variables to define FS, CA,
ES, & IS
2. Assign a numerical value:
1. From +1 to +6 to each FS & IS dimension
2. From -1 to -6 to each ES & CA dimension
3. Compute an average score for each FS, CA,
ES, & IS

1. Plot the average score on the appropriate
axis
2. Add the two scores on the x-axis and plot
the point. Add the two scores on the y-axis
and plot the point. Plot the intersection of
the new xy point
3. Draw a directional vector from the origin
through the new intersection point.

FS
Conservative Aggressive
+6
+5
+4
+3
+2
+1
CA IS
-6 -5 -4 -3 -2 -1 -1 +1 +2 +3 +4 +5 +6
-2
-3
-4
-5
Defensive Competitive
-6
ES
FS : Rating ES Rating
Rasio Likuiditas 6 Tekanan persaingan -4
Rasio Aktivitas 6 Ragam permintaan -2
Rasio keuntungan 5 Elastisias harga permintaan -3
Rasio Pertumbuhan 5 Perubahan teknologi -3
22 -12
IS : Rating CA Rating
Potensi pertumbuhan 5 Pangsa Pasar -5
Potensi profit 5 Mutu Produk -2
Kemudahan masuk ke dalam pasar 3 Kesetiaan konsumen -1
Produktivitas, pemanfaatan kapasitas 3 Kendali atas pemasok dan distributor -4
16 Utilisasi kapasitas pesaing -3
-15
FS
+6
Rating rata-rata : FS 22 : 4 = 5,5 Conservative Aggresive
ES -12 : 4 = -3 + 2
Vektor Arah Y = 2,5

IS
Rating rata-rata : IS 16 : 4 = 4 CA- 6 0 1 +6
CA -15 : 5 = -3 +
Vektor Arah X = +1
Defensive Competitive
-6
ES
Framework
SWOT Matrix
SPACE Matrix
Stage 2: BCG Matrix

The Matching Stage
IE Matrix
Grand Strategy Matrix

BCG Matrix
Boston Consulting Group Matrix

Enhances multi-divisional firm in formulating
strategies
Autonomous divisions = business portfolio
Divisions may compete in different industries
Focus on market-share position & industry
growth rate

BCG Matrix
Relative Market Share Position
Ratio of a division’s own market share in an

industry to the market share held by the largest
rival firm in that industry

Relative Market Share Position
High Medium Low
1.0 .50 0.0
High
+20
Stars Question Marks
Industry Sales Growth Rate
II I
Medium
0
Cash Cows Dogs

III IV
Low
-20

BCG Matrix
Question Marks
Low relative market share – compete in high-
growth industry
Cash needs are high
Case generation is low
Decision to strengthen (intensive strategies) or

divest

BCG Matrix
Stars
High relative market share and high growth
rate
Best long-run opportunities for growth &
profitability
Substantial investment to maintain or

strengthen dominant position
Integration strategies, intensive strategies, joint
ventures

BCG Matrix
Cash Cows
High relative market share, competes in low-
growth industry
Generate cash in excess of their needs
Milked for other purposes
Maintain strong position as long as possible

Product development, concentric diversification
If weakens—retrenchment or divestiture

BCG Matrix
Dogs
Low relative market share & compete in slow

or no market growth
Weak internal & external position
Liquidation, divestiture, retrenchment

Framework
SWOT Matrix
SPACE Matrix
Stage 2: BCG Matrix

The Matching Stage
IE Matrix
QSPM

Framework
Quantitative Strategic
Stage 3:
Planning Matrix
The Decision Stage
(QSPM)

QSPM
Quantitative Strategic Planning Matrix
Technique designed to determine the relative

attractiveness of feasible alternative actions

Strategic Alternatives
Key External Factors Weight Strategy 1 Strategy 2 Strategy 3

Economy
Political/Legal/Governmental
Social/Cultural/Demographic/En
vironmental
Technological
Competitive
Key Internal Factors

Management
Marketing
Finance/Accounting
Production/Operations
Research and Development
Computer Information Systems

1. Make a list of the firm’s key external
opportunities/threats and internal
strengths/weaknesses in the left column
2. Assign weights to each key external and
internal factor
3. Examine the Stage 2 (matching) matrices,
and identify alternative strategies that the
organization should consider implementing

4. Determine the Attractiveness Scores
5. Compare the Total Attractiveness Scores
6. Compute the Sum Total Attractiveness
Score

CSF Bobot Strategi Strategi Strategi
Pertumbuhan Intensif Pertumbuhan integratif Diversifikasi
AS TAS AS TAS AS TAS
Peluang
Pertumbuhan 0,15 4 0,60 4 0,60 2 0,30
pasar yang baik
Trend eskpor 0,10 4 0,40 4 0,40 2 0,20
meningkat terus
Pelanggan setia 0,15 4 0,60 3 0,45 1 0,15
di luar negeri
Apresiasi US$ 0,05 3 0,15 3 0,15 3 0,15
Kebijakan 0,05 4 0,20 3 0,15 3 0,15

Pemerintah
Ancaman
Persaingan 0,20 3 0,60 4 0,80 3 0,60
Hambatan 0,10 2 0,10 2 0,10 2 0,10

perdagangan
internasional
Kepercayaan luar 0,15 2 0,30 2 0,30 2 0,30
negeri
Pasokan bahan 0,05 3 0,15 4 0,20 2 0,10
baku dari
supplier
Pemulihan 0,05 3 0,15 3 0,15 4 0,20
ekonomi
domestik
CSF Bobot Strategi Strategi Strategi
Pertumbuhan Intensif Pertumbuhan integratif Diversifikasi
AS TAS AS TAS AS TAS
Kekuatan
Pertumbuhan 0,15 4 0,60 4 0,60 - -
Penjualan
Kinerja Keuangan 0,15 4 0,60 4 0,60 2 0,30
Pertumbuhan 0,10 4 0,40 4 0,40 - -

harga saham di
Bursa
Manajemen 0,10 3 0,30 3 0,30 4 0,40
Kualitas produk 0,05 4 0,20 3 0,10 2 0,10
Kelemahan
Ketergantungan 0,10 3 0,30 4 0,40 3 0,20
bahan baku
Jaringan distribusi 0,15 4 0,60 4 0,60 2 0,45
internasional
Pangsa pasar 0,05 3 0,15 3 0,15 2 0,10
Pemasaran 0,05 3 0,15 3 0,15 2 0,15
Kapasitas produksi 0,10 3 0,30 4 0,40 4 0,20
TOTAL 6,85 7,00 4,15

QSPM
Limitations
Requires intuitive judgments & educated

assumptions
Only as good as the prerequisite inputs

QSPM
Advantages
Sets of strategies considered simultaneously or

sequentially
Integration of pertinent external & internal
factors in the decision making process

 Writea paper of Strategy Formulation
Analysis of the Company
“Let your plans be dark and impenetrable as
night, and when you move, fall like a
thunderbolt.”
― Sun Tzu, The Art of War

BAB 5 Strategy Formulation Framework

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Oleh :

Dr. M Najib, STP, MM

Nature of Strategy Analysis & Choice

-- Establishing long-term objectives

Ch 6 -2 Copyright 2007 Prentice Hall

Copyright 2007 Prentice Hall Ch 6 -3

Participation in generating alternative

Copyright 2007 Prentice Hall Ch 6 -4

Copyright 2007 Prentice Hall Ch 6 -5

The Matching Stage

The Decision Stage

Stage 1: External Factor Evaluation

Competitive Profile Matrix

Copyright 2007 Prentice Hall Ch 6 -8

Rating Skor Rating Skor Rating Skor

Market 0,20 3 0,6 2 0,4 2 0,4

Stage 2: BCG Matrix

Grand Strategy Matrix

Copyright 2007 Prentice Hall Ch 6 -13

Copyright 2007 Prentice Hall Ch 6 -14

Two Internal Dimensions

Financial Strength (FS)

Copyright 2007 Prentice Hall Ch 6 -15

Two External Dimensions

Environmental Stability (ES)

Copyright 2007 Prentice Hall Ch 6 -16

Financial Strength (FS) Environmental Stability (ES)

Copyright 2007 Prentice Hall Ch 6 -17

Competitive Advantage CA Industry Strength (IS)

Market share Growth potential

Copyright 2007 Prentice Hall Ch 6 -18

Ch 6 -19 Copyright 2007 Prentice Hall

Ch 6 -20 Copyright 2007 Prentice Hall

Rating rata-rata : FS 22 : 4 = 5,5 Conservative Aggresive

Vektor Arah Y = 2,5

Stage 2: BCG Matrix

Grand Strategy Matrix

Copyright 2007 Prentice Hall Ch 6 -23

Boston Consulting Group Matrix

Copyright 2007 Prentice Hall Ch 6 -24

Relative Market Share Position

Ratio of a division’s own market share in an

Copyright 2007 Prentice Hall Ch 6 -25

Cash Cows Dogs

Ch 6 -26 Copyright 2007 Prentice Hall

Decision to strengthen (intensive strategies) or

Copyright 2007 Prentice Hall Ch 6 -27

Substantial investment to maintain or

Copyright 2007 Prentice Hall Ch 6 -28

Maintain strong position as long as possible

Copyright 2007 Prentice Hall Ch 6 -29

Low relative market share & compete in slow

Liquidation, divestiture, retrenchment

Copyright 2007 Prentice Hall Ch 6 -30

Stage 2: BCG Matrix

Copyright 2007 Prentice Hall Ch 6 -31

Copyright 2007 Prentice Hall Ch 6 -33

Quantitative Strategic Planning Matrix

Technique designed to determine the relative

Copyright 2007 Prentice Hall Ch 6 -34

Key External Factors Weight Strategy 1 Strategy 2 Strategy 3

Key Internal Factors

Ch 6 -35 Copyright 2007 Prentice Hall