Analysis: Diagrams and Matrices
Management Matrices in Strategic Management
We have learned previously that diagrammatic representations can be used for analytical purposes. And in case you know that strategic analysis is a key element in strategic management, it is no surprise that various diagrams have been used. Effective analysis is about asking the right questions. Strategic Analysis involves taking a look at the environment in which we operate. This means looking at:
the wider environment for significant influences and identifying the relevant factors (e.g., with the PEST analysis)
our organization, and explaining its strengths and weaknesses (e.g. with the SWOT analysis)
our competitors, and assessing opportunities and threats. (e.g., with Porter's Five Forces Model)
Because this module is more about Strategy Visualization than Strategic Management we will not go into detail and come back to the topic of digramming.
Next you will get an overview on commonly used mangement matrices.
Your task: Choose one of the diagramms and try to find out in the internet, who invented it, where and how it is being used, about the pros and cons and the context where it can be used. Then write a 1 page article about one of the following examples: