We will also explain how to apply this model in practice to analyze the potential opportunities for your organization, find underperforming assets and identify products or business units that require additional investment. In this article, we will describe the concept of the BCG matrix in detail and consider examples of matrices for established companies. With this model, you can create a diversified and well-balanced business portfolio, develop a future-oriented growth strategy and identify the assets worth investing in. BCG matrix is a perfect tool for analyzing products and business units according to their relative market share and growth.
An effective business plan takes into account not only the products’ profitability but also the goals for the future.
Every business requires a strategy to set and implement goals and analyze outcomes.
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