A Hybrid Approach for Business Strategy Selection

The most important concern for organizations,today, is the formulation and implementation of strategies which guarantees the success and survival of the firm in turbulent and complex environmental circumstances. This research seeks to propose a framework for strategy formulation in organizations. The case we examined in this paper is Mozhd E Vasl. This research is a kind of descriptive analytical. After studying mission statement, we identified the internal and external factors affecting the performance of the firm and formed internal factor evaluation matrix and external factor evaluation matrix. With respect to the information achieved in previous steps, we used SWOT matrix and internal-external matrix for comparison and adoption. After that, we applied position evaluating and strategic act to identify possible strategies. In the next step, we used qualitative strategic planning matrix and Fuzzy TOPSIS technique and Fuzzy SAW in order to rank the proposed strategies and at last we select the best strategy combining the results gained. Finally, this research concluded that seven competitive strategies have been selected, and the results showed product development is the first priority for improvement of strategy status in this manufacturing plant.