To elaborate, the matrix uses graphical representations of products and services to help the top management identify which products perform the best and the ones that are underperforming. The BCG growth share matrix was proposed by the Boston Consulting Group in 1970 as a strategic planning model to visualize the success of a company’s products or services. The subsequent sections present an elaborative description of all aspects linked to the BCG Matrix.
In this thoughtful article, we delve deep into the various layers of the BCG Growth Matrix to understand the importance of the model and also effective application of it. If we look at it from the perspective of assessing the competitive positioning of a company’s products and services, the BCG Growth Matrix is an excellent analysis model applied by businesses to gauge the success of their product lines. Furthermore, organizations rely on an effective change management process to optimize their strategic plans by bringing positive changes. For that, business leaders use effective strategic planning tools and models like PESTLE Analysis, SWOT Analysis, VRIO Analysis, and other models subject to the purpose of strategic analysis.
