BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Current strategy of the organization
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Long-term strategic planning
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Short-term strategic planning
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Revenue generated by the organization
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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.
Detailed explanation-2: -Solution: The BCG matrix is based on Industry growth rate and relative market share. BCG matrix is a framework created by Boston Consulting Group to evaluate the strategic position of the business brand portfolio and its potential.
Detailed explanation-3: -The BCG (Boston Consulting Group matrix) is also known as the product portfolio matrix. It is a planning tool of the business which is used to estimate the strategic position of the brand portfolio of a firm.
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: -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.