Strategy Formulation for Performance Improvement of Indian Corrugated Industry: An Application of SWOT Analysis and QSPM Matrix

Abstract

Strategy formulation and implementation is one of the most important tasks that managers in every organization need to perform. This process has emerged with a range of approaches that enjoyed different levels of support and recognition over time. But, somehow in Indian unorganized SMEs, it has not been applied effectively. The aim of the present study is to develop an appropriate strategy for Indian corrugated firms. To reach this object, the study suggests SWOT analysis along with QSPM and SPACE matrix. Vast literature survey was done to explore different factors for SWOT Analysis and then the weight and importance of each factor was defined by using Focus Group approach. Based on the inputs given by experts during focus group session, EFE and IFE matrixes were developed. The result of SPACE matrix showed that aggressive strategies are required to pursue. The QSPM after analysis resulted in to selection of “Development of R&D Department” strategy with score of 4.06. This proposed strategy is very much beneficial for corrugated industry as the whole possibility of success is based on customization aiming more space in minimum dimensions at best quality and price.

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