BCG Matrix & SWOT Analysis
BCG Matrix
This paper discusses the application of the BCG matrix and SWOT analysis.
BCG Matrix & SWOT Analysis
BCG Matrix:
The BCG growth-share matrix allows companies that are organized into strategic business units to better evaluate these units and allocate resources more effectively. Allocating resources is one of the most important strategic decisions a company has to make. The BCG matrix would help my company evaluate the appropriateness of resource allocation by looking at a business unit's market growth rate vs. their market share. Realizing which units are stars, cash cows, dogs, and question marks can help refocus our strategies and take advantage of opportunities that otherwise may be missed.
SWOT Analysis:
One instance in which SWOT analysis was used was determining whether or not our company should partner with another organization in the development of a new product. The strengths and weaknesses of this partnership were determined, as were the opportunities our company would realize and the threats we may face. Items such as the potential partner's track record for development efficiency was a definite strength. In contrast, one weakness was the sharing of profits once the product went to market, as well as the fact that our company would not have sole ownership of the product. There was the opportunity to bring the product to market ahead of any potential competitors, plus the opportunity to develop a relationship that could serve both companies well into the future. However, there was the threat that this potential partner had worked in the past with competitors and that issues may arise should the partnership not be successful and the organization work with competitors again in the future. It was determined that the strengths of this partnership outweighed the weaknesses, and most threats could be prevented, so that both of our companies could fully take advantage of the opportunities the partnership afforded.
References
None.
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