Activity 6

Direction: Explain each question, before you begin writing, read the passage
carefully and plan what you will say. Your essay should be as well organized and
as carefully written as you can make it.

Read carefully, reflect on and record your responses to the following questions.

1. What is the six steps to develop a QSPM?

Step 1: Internal Factor Evolution (IFE)
To begin the process of creating a QSPM, you will develop a list of your organization's strengths
and shortcomings. Also, filling out a few notes under strengths and weaknesses will get you
started on your matrix. So keep in mind that you are just dealing with internal factors at this
stage.
Step 2: External Factor Evolution (EFE)
Similarly, you are now searching the market for possibilities and threats outside of your
organization. Previously, the new market was spreading outside of the company, creating
possible opportunities and challenges for competitors. Threats, on the other hand, might
stimulate fierce competition, lowering the market price. Finally, on the left side of your paper,
identify these opportunities and risks that you have discovered.
Step 3: Alternative Strategies
After you've identified all of your internal and external issues, the following step is to plan out
your solutions. So, utilizing a complete matrix, these are the strategies you'll select. Specifically,
all of the strategies you've evaluated should be put at the top of the matrix. To play, you must
have at least two selections, but you can choose more. So, for each strategy option, you'll need
three columns: weight, attractiveness score, and total.
Step 4: Factors are weighted
After that, you must apply a weight to each of the factors in your matrix. Because each aspect's
weight will determine its importance, you should consider how much each factor effects
practical application. As a result, the weights of your external and internal components should
be as high as possible. After that, you should consider each of the suggested strategy
possibilities. Because different strategies place varying weights on different elements, having a
distinct weight for each option makes sense.
Step 5: Score for attractiveness
Similarly to the weight, you will now assign an attractiveness score to each component both
internally and externally. These ratings will be given on a scale of 1 to 4, with 1 being the least
appealing and 4 being the most appealing. Therefore, if the issue in question does not affect the
option you make, you can consider the attractiveness score to be 0. Go over the entire matrix
until all of your factors are equally weighted and appealing.
 Final Calculations (Step 6)
Finally, you will do the necessary computations to stabilize the final values in all of your
alternatives and complete the QSPM process. The formula is simple: double the weight by the
attractiveness score, and then add this value to each column. As a result, you can compare the
total to each possibility in the matrix. The best overall option is the one with the highest total
score.

2. What is governance issue?

"One of a group of persons entrusted," Webster's Dictionary defines a "director." A board of

directors is a group of people who are responsible for the general direction of a company."
individuals chosen by a corporation's owners to have control and authority guidance over
management and who watch out for the interests of shareholders The process of Governance is
the term for control and direction. The National Association of Manufacturer Corporate
Directors defines governance as "the ability to ensure long-term success." strategic goals and
strategies have been established, as well as a proper management structure. Is in place to meet
those goals while also ensuring that the environment is protected. Framework functions to keep
the company's integrity, reputation, and accountability to its many stakeholders."