BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Long-term Strategic planning
|
|
|
Short-term Strategic Planning
|
|
|
Only Diverse Strategic planning
|
|
|
None of the above
|
Detailed explanation-1: -A BCG matrix is a model used to analyze a business’s products to aid with long-term strategic planning. The matrix helps companies identify new growth opportunities and decide how they should invest for the future. Most companies offer a wide variety of products, but some deliver greater returns than others.
Detailed explanation-2: -What is the BCG Matrix? The Boston Consulting group’s product portfolio matrix (BCG matrix) is designed to help with long-term strategic planning, to help a business consider growth opportunities by reviewing its portfolio of products to decide where to invest, to discontinue, or develop products.
Detailed explanation-3: -BCG stands for the Boston Consulting Group, a well-respected management consulting firm. The growth-share matrix aids the company in deciding which products or units to either keep, sell, or invest more in.
Detailed explanation-4: -The Boston Consulting Group Matrix (BCG Matrix), also referred to as the product portfolio matrix, is a business planning tool used to evaluate the strategic position of a firm’s brand portfolio. The BCG Matrix is one of the most popular portfolio analysis methods.
Detailed explanation-5: -There are four strategies based on BCG Matrix: Build, Hold, Harvest and Divest.