1. Compare and contrast the IE Matrix with the BCG Matrix.
IE matrix and BCG are comparable in that both are tools utilized during plotting enterprise divisions in a schematic diagram, thus both generally are referred as portfolio matrices. In addition, each circle’s size denotes a percentage contribution of sales for every division (David, 2008). In pie chart presentation, each slice indicates percentage profit contribution of every allotment in both matrices. Also, both IE and BCG matrices are management tools which are utilized to make decisions once the required evaluations are made and satisfactorily reached (David, 2008). In devising adequate and effective strategies, the strategists develop both of them since they interrelate.
Though the matrices serve the same purpose, they bear great differences where their axes differ variedly (David, 2008). The BCG axes represent market growth as well as market share of the organization. The IE axes indicate calculated value that shows group of internal as well as external factors. Therefore, the IE matrix requires more data concerning business contrarily to BCG matrix (David, 2008). Additionally, IE matrix is broader than BCG matrix and strategic insinuation of each is diverse.
2. Describe the tactics that have been used by politicians that can also aid strategists.
Equifinality
The strategists should be are aware that it is is possible to achieve the intended results via utilizing other ways than the preferred ones by majority. They should know that attaining the set goals or targets is further indispensable than the tactics being applied, thus alternatives ways can be utilized though they must not be “dirty” as of politics. In addition, they should be able to generate new alternatives which will lead in attaining the same or equal results, though, they may require commitment and dedication to instill them (David, 2008). These traits by politicians must also be developed by strategists coupled with will power to in seeing targets are achieved by use of alternatives selected.
Focus on higher-order issues
Startegists by committing and focussing their attention to greater level, numerous short-range interests can be rescheduled in favor of long-term interests. This will facilitate them to attend the long-range interests which are vital for survival of the organization despite the short-term interests’ urgency (David, 2008). For example, by focussing on issues of continued existence , auto and steel industries were capable of convincing unions to result to offering of allowances on wage augmentations. Strategists must sacrifce well calculated risks which will not jeorpandice the organization despite the urgency of the smaller activities. These will be resolved after the major needs have been resolved which by failing, they may lead to the collapsing of the organization (David, 2008).
Satisfying
Attaining a satisfactory results by application of acceptable strategy is advantageous than failing in accomplishing any optimal outcomes with new strategy. Strategists should not boast of utilizing new strategies different from their competitors which will not give any meaningful outcome in the name being innovative.
Generalization
Strategists through shifting their concentration from specific issues to more general ones may augment their choices for gaining organizational commitment (David, 2008).
Provide political access on essential issues
Strategy as well as policy decisions bearing major negative outcomes for middle managers will prompt involvement behavior from them (David, 2008). Suppose middle managers are denied chance of intervening in decision making in appropriate political forums, there is high probability of resisting the formulated decisions. Strategists in availing adequate and open political access forums, they will be able to get additional information which when alone they might have lacked (David, 2008). Hence, enabling them make uniformed decisions which will make the set goals achievable with ease. Moreover, the formulated decisions will not encounter resistance since they have been accepted prior their implementation by the middle managers during the forum.
Reference
David, F. R. (2008). Strategic management: concepts, 12 Ed. United States of America. Prentice Hall.
